Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Waste or Garbage Collection Vehicle Market size was over USD 9.79 billion in 2024 and is poised to exceed USD 17.14 billion by 2037, growing at over 4.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of waste or garbage collection vehicle is evaluated at USD 10.16 billion.
The growth of the market can be attributed to the escalating amount of waste, growing concerns associated with effective plastic waste management, increasing advancements to enhance the performance of garbage collection trucks, and rising automation in several industrial verticals around the world. According to the World Bank, the world generates around 2.01 billion tons of municipal solid waste every year, with at least 33 percent of that not managed in an eco-friendly manner. The total amount of global waste is calculated to rise up to 3.4 billion tons by 2050. Along with these, over the last few years, the world has witnessed a hike in demand for electric vehicles, which has led to the development of electric garbage collection vehicle technology, expected to offer abundant growth opportunities to the waste or garbage collection vehicle market in the upcoming years. Furthermore, rise in collaborations with university students in developed nations to improve garbage truck designs is also projected to drive market growth in the near future.
