Refuse Truck (Garbage Handling Trucks) Market Size to Exceed $5.07 Billion by 2029 | Growth and Industry Trends
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How Has the Refuse Truck (Garbage Handling Trucks) Market Grown from 2024 to 2025?
The market size of refuse trucks, also known as garbage handling trucks, has seen a tremendous surge in its growth in the recent past. From a value of $1.62 billion in 2024, it is projected to escalate to $2.05 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 26.6%. The noticeable growth during the historic period can likely be attributed to the rapid rate of urbanization, increasing consciousness regarding waste management, a rise in automation in commercial vehicles, growing concerns about the environment, an increasing population, and stricter environmental policies.
What Growth Rate Is Anticipated for the Refuse Truck (Garbage Handling Trucks) Market in the Coming Years?
Expectations are high for the refuse vehicle market (garbage handling trucks) to experience substantial expansion in the near future. Its size is predicted to reach $5.07 billion by the time 2029 rolls around, with a compound annual growth rate (CAGR) sitting at 25.4%. Contributing factors to this growth range from increased utilization of electric garbage trucks, heightened demand for eco-friendly waste management solutions, interest in compact and easily navigable vehicles, to growing conversations around worker safety, and the rise of public-private collaborations (PPPs). Key trends to watch in this forecast period involve breakthrough technologies, cutting-edge engineering solutions, progressive improvements in diesel technology, clean technology innovations, enhanced charging systems, and progress in automation and telematics.
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Who Are the Leading Companies in the Refuse Truck (Garbage Handling Trucks) Market?
Major companies operating in the refuse truck (garbage handling trucks) market are Daimler Truck Holding AG, Dongfeng Motor Corporation, Oshkosh Corporation, Zoomlion Heavy Industry Science & Technology Co. Ltd., Crane Carrier Company, Volvo Trucks North America Inc, Autocar LLC, Takuma Co. Ltd., Mack Trucks Inc., Peterbilt Motors Company, Isuzu Commercial Truck of America Inc., McNeilus Truck & Manufacturing Inc., Stellar Industries Inc., Hino Motors Manufacturing U.S.A. Inc., Labrie Enviroquip Group, New Way Ltd., Loadmaster Industries Inc, The Curbtender Inc., Scranton Manufacturing Company Inc., Spartan Motors Inc., Workhorse Group
What Are the Key Drivers of the Refuse Truck (Garbage Handling Trucks) Market?
The increase in consciousness regarding waste management is projected to spur the refuse truck market’s expansion in the future. Waste management encompasses the entire process of dealing with waste, from origination to ultimate disposal, which includes collection, transportation, treatment, and recycling. This heightened awareness of waste management is due to environmental health issues, educational initiatives, social responsibility, and corporate involvement. Refuse trucks simplify the waste management process by effectively gathering and hauling large quantities of waste to recycling or disposal facilities, thereby minimizing the effort and time needed for waste disposal. For instance, a February 2024 report from the United Nations Environment Programme, a US organization, suggested that the generation of municipality solid waste would increase from 2.1 billion tons in 2023 to 3.8 billion tons by 2050. Consequently, the escalating consciousness about waste management is invigorating the growth of the refuse truck market.
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What Are the Key Market Segments in the Refuse Truck (Garbage Handling Trucks) Industry?
The refuse truck (garbage handling trucks) market covered in this report is segmented –
1) By Type: Front Loaders; Rear Loaders; Side Loaders
2) By Fuel: Electric; Gasoline; Diesel
3) By Technology: Manual; Automatic; Semi-Automatic
4) By End-User: Municipal Garbage; Industrial Garbage; Other End Users
Subsegments:
1) By Front Loaders: Standard Front Loaders; Automated Front Loaders; Compaction Front Loaders
2) By Rear Loaders: Standard Rear Loaders; Automated Rear Loaders; Low-Profile Rear Loaders
3) By Side Loaders: Automated Side Loaders; Manual Side Loaders; Dual-Stream Side Loaders
Which Industry Trends Are Shaping the Future of the Refuse Truck (Garbage Handling Trucks) Market?
Leading corporations in the refuse truck industry are concentrating on innovating fully electric rubbish vehicles with the intent to lessen carbon pollution, reduce overhead expenditure, and boost sustainability in waste management practices. The term electric garbage vehicles is given to waste-collection conveyances that run on electric batteries, providing a solution to decrease air and sound pollution while enhancing fuel efficiency. In the case of WIN Waste Innovations Holdings Inc., an American waste management firm, in December 2023, introduced Mack LR Electric vehicles along with completely electric garbage trucks to Boston. These remarkable vehicles are solely powered by energy derived from the collected waste, demonstrating a novel method to waste collection and the production of renewable energy. The shift towards electric vehicles is anticipated to stop the consumption of nearly 12,000 gallons of diesel fuel annually and will slash carbon dioxide equivalent emissions by 122 metric tons yearly. This initiative is in line with wider environmental targets aiming at reducing greenhouse gas output and dependency on fossil fuels.
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What Are the Key Regional Markets in the Refuse Truck (Garbage Handling Trucks) Industry?
Asia-Pacific was the largest region in the refuse truck (garbage handling trucks) market in 2024. The regions covered in the refuse truck (garbage handling trucks) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the refuse truck (garbage handling trucks) market, and how is it changing globally?
2. Who are the major companies in the refuse truck (garbage handling trucks) market, and how are they performing?
3. What are the key opportunities and risks in the refuse truck (garbage handling trucks) market right now?
4. Which products or customer segments are growing the most in the refuse truck (garbage handling trucks) market?
5. What factors are helping or slowing down the growth of the refuse truck (garbage handling trucks) market?
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