Garbage Truck Bodies Market Trends

Growth Drivers

• Increasing Amount of E-Waste – with changing nature of garbage, such as e-waste, the demand for various kind of garbage truck bodies is also increasing.  Rising amount of e-waste, such as TVs, computers and phones and others is expected to boost the garbage truck bodies in the projected period. E-waste is estimated to rise to more than 70 million tons by 2030.

• Rising Solid Waste–Related Emissions – for instance, it is anticipated that the if no improvements are made in this sector, the solid waste-related emissions is estimated to rise to ~2.30 billion tons of CO2-equivalent per year by 2050.

• Growing Global Population – which was found to be surged by ~2.5 billion people in the last 30 years, up till 2020.

• Increasing Urbanization – for instance, in 2020, more than 75% population of the developed economies lived in cities which is expected to keep increasing.

Challenges

• Stringent Regulatory Framework
• Changing Characteristics of Waste Generated
• High Cost of Maintenance

The global garbage truck bodies market is segmented and analyzed for demand and supply by product type into residential Waste and industrial waste. Amongst these segments, the commercial Waste segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing amount of waste generated from industries along with the surge in the paper & paperboard waste generated worldwide. For instance, out of ~290 million tons of waste generated in 2018, approximately 23% was contributed by paper & paperboard waste.