Waste or Garbage Collection Vehicle Market: Introduction According to the report, the global waste or garbage collection vehicle is projected to reach US$ 20 Bn by 2031, expanding at a CAGR of ~4% during the forecast period. Manufacturers are focusing on the introduction of new features, such as real-time monitoring system, and several new equipment for the collection of waste from segregation and streets, as more number of consumers are preferring zero-emission waste or garbage collection vehicles and autonomous vehicles due to their clean and economical operation. The increase in investments by major players in autonomous vehicles and their applications for improving vehicle safety is likely to drive the global waste or garbage collection vehicle market. For instance, in the latest research and development on selfdriving vehicles, the Volvo Group, together with Renova, is testing an autonomous refuse truck that has the potential to be used across the urban environment. The Volvo truck is loaded with the latest technologies and innovations. It uses a surveying method called LIDAR to measure distance to a target by illuminating that target with a pulsed laser light, and measuring the reflected pulses with a sensor. The truck also has the AMCS certified vehicle data hub solution on the 2 compartment vehicle with the in-cab AMCS On board computer. Using this AMCS technology, the vehicle records relevant data for its pay-by-weight operation. Get sample copy of at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=62247 Expansion of Waste or Garbage Collection Vehicle Market Manufacturers in the waste or garbage vehicle market are continuously investing and focusing on innovations such as enhanced maneuverability, reduced noise levels, 360 degree camera systems, and eco-friendly, zero-emission power sources such as hydrogen cells, lithium ion cells, and electricity. Moreover, the waste or garbage collection vehicle over the next few years would be zeroemission vehicles, thus manufacturers are expected to focus on the development and manufacture of zero-emission waste or garbage collection vehicles. This, in turn, boosts the waste or garbage collection vehicles market across the globe. In 2018, Alke launched the ATX range of zero-emission waste or garbage collection vehicles, which include a special vehicle equipped with waste collection body, designed for use in cities and towns, sport centers, railway stations, airports, camping sites, and tourist villages. Additionally, governments across the globe are taking initiatives to educate people about waste management and recycling. India is projected to be a major market for waste or garbage collection vehicles during the forecast period, as government initiatives, such as smart city and Swachh-Bharat, to create a healthy and clean environment are estimated to offer considerable opportunity to the waste or garbage collection vehicle market across the globe. Segmentation of Waste or Garbage Collection Vehicle Market In terms of loader type, the rear loaders segment accounted for a notable share of the global waste or garbage collection vehicle market. However, the rear loaders segment is expected to gain market share by the end of the forecast period, owing to the increase in the demand for rear loaders garbage collection vehicles as compared to other types of loaders. Rear loader garbage truck are used for both organics and MSW collection. Each of these rear loader garbage trucks can be operated by a single driver, thus increasing crew efficiency. This, in turn, is estimated to propel the rear loaders segment during the forecast period.
WASTE OR GARBAGE COLLECTION VEHICLE MARKET TO REACH VALUATION OF US$ 20 BN BY 2031
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.