The global sales of garbage collection trucks reached 62,155 (units) in 2018, reveals a report on the garbage collection trucks market.
According to the analysis by Persistence Market Research, the garbage collection trucks market is projected to grow at 4 percent CAGR during the forecast period. Rising demand for garbage collection trucks from municipal and industrial sectors is likely to propel the garbage collection trucks market growth during the forecast period.
Demand for refuse trucks for municipal and industrial garbage collection applications is set to directly contribute to the growth of the garbage collection trucks market during the forecast period.
Significant demand for automatic garbage collection trucks is contributing to the growth of the garbage collection trucks market throughout the forecast period. The global garbage collection trucks market value is projected to be US$7 billion by the end of 2019, and is expected to grow 1.3 times by the end of the 2029.
China to hold significant market share
Thanks to rapid industrial growth, urbanization, stable political backdrop, and governmental regulations in the country, China is expected to hold a significant market share in the garbage collection truck market during the forecast period.
Some key players in the market are McNeilus Truck & Manufacturing, Inc., Zoomlion Heavy Industry Science & Technology Co., Ltd., Fujian Longma Environmental Sanitation Equipment Co., Ltd., Dongfeng Motor Corporation, PAK-MOR LTD., Heil, FAUN Umwelttechnik GmbH & Co.KG, Bridgeport Manufacturing, Labrie Enviroquip Group, EZ-Pack Refuse Hauling Solutions, LLC, Dennis Eagle Inc., Geesinknorba Ltd., Scranton Manufacturing Corporation, Inc., CEEC TRUCKS INDUSTRY CO., LIMITED., and Curbtender, Inc.