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The increasing adoption of electric garbage trucks, in line with a growing focus on sustainability, is reshaping the garbage truck industry. With stricter environmental regulations and rising awareness of climate change, demand for eco-friendly solutions is surging. Electric garbage trucks offer reduced emissions and lower operating costs, appealing to municipalities, waste management companies, and consumers alike. This trend is driving innovation and investment in cleaner technologies, fostering sustainable growth in the market.
For instance, in December 2023, Propel Industries introduced indigenous EV dump trucks, including the 470 MEV and 470 HEV models, with gross vehicle weights of 45 and 60, respectively, representing a notable step in India's electric vehicle manufacturing.
Rear loader garbage truck segment size generated over USD 5 billion in 2023, due to their versatility in urban and suburban settings.
The market size of garbage truck reached USD 14.6 billion in 2023 and is set to grow at over 4.5% CAGR from 2024 to 2032, attributed to growing industrialization, in line with stringent regulatory requirements aimed at proper waste management and environmental sustainability.
Some of the leading market players include Autocar LLC, Dennis Eagle Inc., FAUN Umwelttechnik GmbH & Co. KG, FULONGMA GROUP Co., Ltd., Heil Environmental, Kirchhoff Group, Labrie Group, McNeilus Truck and Manufacturing Inc., New Way Trucks, Mack Trucks, Shandong Wuzheng Group Co., Ltd., and XCMG Group.
Demand for diesel garbage trucks is anticipated to register over 4% CAGR from 2024 to 2032, owing to their robust performance and efficiency.