Europe Garbage Truck Market Trends 2023- Industry Share, Revenue, Growth Drivers, Business Challenges, Opportunities and Future Investment Strategy Till 2033: SPER Market Research
The bodies of garbage trucks are essential components of waste management vehicles because they collect and transport waste from different locations—such as residential, commercial, and industrial areas—to disposal sites. These bodies have loading systems, compactors, and hydraulics built into them. They are made of sturdy materials like steel or aluminium. To satisfy different garbage collection needs, they are available in a variety of configurations, including side, front, and rear loaders.
According to SPER market research, ‘Europe Garbage Truck Market Size– By Product Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Garbage Truck Market is predicted to reach USD 1.52 billion by 2033 with a CAGR of 3.82%.
Recent trends in the industry indicate that the development and integration of hydrogen fuel cell technology for garbage collecting vehicles is becoming increasingly important in Europe. The local government and industry participants share the objective of minimising the environmental impact of municipal solid waste. As a result, there is a trend in Europe towards garbage trucks incorporating more hydrogen fuel cell technology, which may lead to a rise in the market for these cars. Refuse collection trucks require a lot of gasoline and energy when collecting trash on a regular basis, which increases carbon emissions. In an effort to reduce their dependency on fossil fuels and the associated harm to the environment, the governments of Central Europe plan to use garbage trucks that run on alternative fuels.
Despite the industry’s many benefits, a number of restraints are expected to impede the growth of the garbage truck market in Europe throughout the course of the forecast period. The growing concern of the world’s democracies is rising carbon emissions. Some industries focus on developing and applying cutting-edge technology to reduce their carbon impact. These include replacing fossil fuels with renewable fuel sources and moving to electric trucks. To attain carbon neutrality in waste disposal, local governments in Europe are employing hydrogen fuel cell and compressed natural gas (CNG)-powered electric trucks. Because fewer IC engines are being used, it has hampered the growth of the garbage truck industry in this region.
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Impact of COVID-19 on Europe Garbage Truck Market
Furthermore, the garbage truck body market was greatly affected by the Covid-19 outbreak. Production and delivery were impacted by worldwide supply chain disruptions caused by limitations on manufacturing, problems with transportation, and shortages of raw materials. Garbage truck body demand was temporarily impacted by lockdowns and decreased economic activity, which resulted in a decrease in waste generation. Improved sanitation and touchless systems have garnered interest as a result of the pandemic’s emphasis on the need of safety and cleanliness in garbage collection. There was a noticeable change in favour of healthcare waste management, which forced garbage truck manufacturers to adjust and start providing specialty bodies. With an emphasis on effective and sustainable waste management techniques, the industry is anticipated to pick up steam as economies improve.
Europe Garbage Truck Market Key Players:
When it comes to adopting sustainable waste management techniques, Europe has been at the forefront. To lessen landfill waste, the area prioritises waste recycling. Due to this, there is a sizable market for garbage truck bodywork, and producers are concentrating on creating effective and environmentally beneficial products. Additionally, some of the market key players are Dennis Eagle, Mercedes-Benz, NTM-GB LTD, Renault, Volvo, Zoeller Kipper GmbH, Others.
Europe Garbage Truck Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
| By Product Type: | · Front Loaders
· Rear Loaders · Side Loaders |
| By Application: | · Building & Mining Industry
· Urban Garbage Treatment |
| By Region: | · France
· Germany · Italy · Scandinavia · Spain · U.K. · Rest of Europe |
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Europe Garbage Truck Market Growth Opportunity
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