The global electric garbage van market is worth US$ 741.3 Million as of now and is expected to reach US$ 2.63 Billion by the year 2033 at a robust CAGR of 13.5% between 2023 and 2033.
Key Takeaways from Electric Garbage Van Market
- North America holds the largest market share with the US being subject to strict anti-pollution laws getting enacted. As such, more number of city administrations are focusing on the usage of electric garbage vans in fleets. For instance – Los Angeles sanitation service has shown commitment toward conversion of garbage collection vans to the battery power by the year 2035. On the similar grounds, the New York City Sanitation Department does plan having a fleet of 100% electric garbage vans by the year 2040.
- Europe holds the second-largest market share with the UK and Germany leading from the front. Also, there is a strong production base available for every kind of automotive product. New models are also being floored herein. The government of the UK has actually pledged to turn all vans and cars into zero-emission vehicles by the year 2050.
- The Asia-Pacific is expected to grow at the fastest rate in the electric garbage van market going forward with India and China dominating. Plus, it has been reported that in China there is a well-co-ordinated policy creation as well as execution with regards to material and waste resources. Australia and Japan are expected to pick up pace herein. India is also expected to handsomely contribute to the growth of electric garbage van market with the government passing stern emission rules in this regard.
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The present-day scenario is such that the end-consumers are turning out to be extra-conscious regarding environment-friendly measures. As such, the governments are also propagating promotion of the electric vehicles. Emission-free vehicles are being tabled. This factor is expected to keep the cash registers ringing for electric garbage market going forward.
Plus, the fact that global garbage would witness 70% increase in the global garbage by the year 2050 is prompting manufacturers to increase production of electric garbage vans. Also, prices of batteries are decreasing coupled with high-performance electric vans being developed.
It has been observed that electric garbage tippers are in greater demand as compared to battery operated electric garbage vans. Commercial electric garbage vans are preferred over industrial electric garbage vans, especially in the post-pandemic era.
At the same time, there is a dearth of sufficient infrastructure to charge and maintain electric garbage vehicles. This factor is expected to restrain the electric garbage van market. Besides, electric garbage vehicles’ short range and limited capacity are there to add to the hindrances.
Future Market Insights has walked through these facets with future perspectives in its latest market study entitled ‘Electric Garbage Van market’. It has its team of analysts and consultants to look through an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With meeting self-determined GHG reduction goals on the anvil, the global electric garbage van market is likely to grow splendidly in the forecast period” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Electric Garbage Vans
- The key participants in electric garbage van market include Prestantia, Ceeon India, Jessun Techno Pvt. Ltd., Heil Co., Kirchhoff Group, McNeilus, Bridge Truck Manufacturing, Hauli-All Equipment, Curbtender, and likewise.
- The players mentioned above are engaging into various modes of expansion inclusive of new product launch, mergers, acquisitions, partnerships, joint ventures, and likewise to strengthen their position in the electric garbage van market going forward.
- GreenWaste, in the year 2019, did add first-generation electric garbage van (from BYD) to the fleet. It has been found that usage of this vehicle every year does save 78 metric tons of carbon dioxide close to 6K gallons of fuel.
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What does the Report say?
- The research study is based on product type (garbage tipper, garbage cycle e-rickshaw, battery electric van, and likewise), loading capacity (less than 500 Kg, 500-800 Kg, and more than 800 Kg), and end-user (commercial garbage van, industrial garbage van, and others).
- With electric vehicles being increasingly used, the idea of using electric garbage van is bound to go great guns in the near future.
Key Segments of the Electric Garbage Van Industry
By Product Type:
- Garbage Tipper
- Garbage Cycle eRickshaw
- Battery Electric Van
- Others
By Loading Capacity:
- Less than 500 Kg
- 500 to 800 Kg
- More than 800 Kg
By End User:
- Commercial Garbage Van
- Industrial Garbage Van
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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