Signi
½cant
Growth Foreseen by Street Sweeper
Market during 2030 March 25, 2022
The global street sweeper market is anticipated to cross US$ 6.6 Bn by 2030. The street sweeper market is projected to expand at a CAGR of 3.5% from 2022 to 2030, in terms of revenue. The growth of the street sweeper market can be attributed to rising adoption of street sweepers in smart cities projects, and growing governmental regulations across developed and developing economies related to environmental cleanliness. Europe is anticipated to emerge as the leading street sweeper market, followed by North America and Asia Pacific, during the forecast period.
Key Growth Drivers of Street Sweeper Market
•
High rate of urbanization and rapid industrialization: Over the past decade, urbanization across developing nations of the world has grown at a robust rate. The trend is especially evident in developing regions that have witnessed rapid development and expansion of Tier 2 cities. Hence, rising urbanization in South America, Asia Pacific, and Middle East & Africa has also raised the overall industrialization in the world. All these factors are anticipated to boost the sale of street sweepers across the globe.
•
According to the World Bank, around 55% of the world’s population resides in urban areas, which is projected to increase to 68% by 2050. This, in turn, is expected to fuel growth of the street sweeper market.
Get sample copy at: https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=74805
Supportive government regulations promoting rapid industrialization in different countries is anticipated to propel the street sweeper market during the forecast period. Influence of this driver is expected to remain high during the forecast period, as urbanization rate is projected to increase worldwide.
•
Rising adoption of street sweepers in smart cities: Cities are in the process of