Pune, July 29, 2020 (GLOBE NEWSWIRE) — The global garbage truck bodies market size is expected to reach USD 31,828.0 million by 2027, exhibiting a CAGR of 4.4% during the forecast period. The rising government efforts to keep clean and sustainable environment in cities by implementing efficient waste removal can promote healthy growth of the market, states Fortune Business Insights in a report, titled “Garbage Truck Bodies Market Size, Share & COVID-19 Impact Analysis, By Product (Front Loaders, Rear Loader, and Side Loaders), By Application Type (Urban Garbage Treatment, Building and Mining industry, and others), and Regional Forecast, 2020-2027” the market size stood at USD 22,635.8 million in 2019.
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The report on the garbage truck bodies market includes:
- All-encompassing summary
- Illuminating insights
- Statistical Facts and figures
- Outstanding insights into all emerging trends
Increasing Green Initiatives to Influence Growth
Rapid urbanization can be a crucial factor in generating enormous amounts of garbage in developed nations, which, in turn, fuels demand for garbage truck bodies. As per the World Bank survey, the annual municipal waste generated in developing or underdeveloped countries is comparatively lower than developed economies, due to the rising urbanization and population. The necessity for garbage transportation and disposal owing to the fear of diseases and an unhealthy environment will encourage the growth of the market.
According to the World Health Organization, around 12.6 million deaths arise due to unhealthful environments Furthermore, hazardous medical waste generated by the hospitals require quick separation at garbage treatment facilities, thus generating the need for garbage trucks. The garbage truck enables the safe disposal of the waste at the waste treatment site. The massive investment by the government in waste treatment plants and garbage collection trucks will contribute positively to the growth of the market.
Slow-moving Automobile Production to Diminish Market Amid Coronavirus
The coronavirus epidemic has caused enormous damage to the automobile industry, consequently affecting the market growth. The stoppage in the production of garbage trucks, especially during the first few months of the pandemic has negatively impacted the market growth. However, new plans and strategies among major players to sync with administration advisories and increase production capacities while ensuring workers’ safe will simultaneously improve the market condition soon. The lack of footfalls in showrooms has further inhibited the industry’s growth during the coronavirus pandemic.
Rising Health and Environmental Safety to Enable Growth in North America
The market size in North America generated a revenue of USD 8,933.2 million in 2019 and is predicted to remain steady in the foreseeable future. The growth in the region is attributed to the high demand for garbage disposal. The rising awareness about environmental safety will aid the expansion of the market. The market size in Europe is predicted to witness a substantial growth rate due to the growing focus on public health and the environment. The market in Asia Pacific is predicted to rise tremendously during the forecast period owing to the growing population in India and China. The increasing emphasis on sustainability and a healthy environment will foster the healthy growth of the market in the region.
2020: Heil Company, a subsidiary of Dover Corporation and a leader in the garbage truck body introduced the automated side loader garbage truck Command-SST™.
List of the Leading Companies Operating in the Garbage Truck Bodies Market are:
- Heil (Tennessee, United States)
- Kirchhoff Group (Germany, Europe)
- McNeilus (Minnesota, US)
- New Way (Canada)
- Truck Manufacturing, Inc (US)
- BYD Motors, Inc. (Shenzhen, China)
- Haul-All Equipment (Canada)
- Fujian Longma sanitation (China)
- Other Players
Quick Buy – Garbage Truck Bodies Market Research Report:
Table of Content
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Garbage Truck Bodies Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Front Loaders
- Rear Loaders
- Side Loaders
- Market Analysis, Insights and Forecast – By Application Type
- Urban Garbage Treatment
- Building and Mining Industry
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of the World
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