A comprehensive outlook of the global garbage collection trucks market with reference to the automotive industry has been presented in the report description
The global industry is currently witnessing a period of stabilization as steady sales continue to sustain growth for suppliers and OEMs. However, an industry that is undergoing one of the biggest transformation, the future truly looks uncertain. The auto industry has always remained fiercely competitive, with US, German, and Japanese OEMs relying on incremental upgrades to consolidate their position. However, as electric vehicles and driverless cars become a reality, traditional players are staring at a future they aren’t entirely familiar with. The next five years in this industry paint a picture of collaboration and competition with the Silicon Valley.
In 2017, the industry has witnessed growth in North America being offset by slowdown in Europe and China. The fortunes of the global automotive industry are stacked in favor of emerging markets, as limited opportunity continues to plague matured markets.
List of factors tracked in the Automotive Industry Market Report
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
PMR collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, PMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
The global garbage collection trucks market has been segmented into:
By Product Type
By End Use
With growing automation in various industrial verticals and advancements in technology, garbage trucks no longer lag behind in terms of technology. Considering that garbage collection vehicles are a noteworthy investment, the need for inculcation of high-end features among end-users is surging. Attributed to this, manufacturers are increasingly discovering new ways for extending the life as well as imbibe additional features such as real time monitoring, addition of various novel equipment for collection of waste from streets, and segregation of waste. Moreover, dynamics such as growing awareness for proper waste disposal facilities are expected to propel the demand, especially in emerging economies such as India, ASEAN countries, and those in other parts of Asia.
Increasing adoption of garbage collection trucks to be witnessed in North America in the coming years
Burgeoning industrialization in urban regions ominously contributes to substantial amounts of waste generated by various sectors. For instance, large industrial base in North America is leading to increasing rate of waste generation in the country. Several manufacturing industries such as automotive, chemical, food and beverage, construction, and others generate huge amounts of liquid and solid waste. According to a recent estimate, approximately 7.6 billion tons of industrial solid waste is generated and disposed of in American industrial facilities.
After evaluating the sternness of the problems arising due to untreated disposal of solid waste and effluents, state governments and EPA (The United States Environmental Protection Agency) have issued a voluntary instruction for industrial waste management. Garbage trucks constitute an important part of industrial waste management systems. Furthermore, technological advancements in the development of garbage collection bodies so as to advance their operating efficiency is a core factor responsible for their increasing adoption for industrial purposes, which is a core facet fueling the demand for garbage collection trucks during the forecast period.
Europe is expected to catch up with North America in terms of utilization of garbage collection trucks
Environmental regulations have become quite stringent owing to the increasing pollution levels globally. Automobile manufacturers have a tough time meeting these regulations. Diesel based garbage collection trucks are also known to be fuel inefficient, which is why the adoption of alternatives such as CNG-based and electric vehicles is quite high in the region. This factor is expected to support the future growth of garbage collection trucks in Europe. Apart from having a large industrial base, the residential segment has also been witnessing stable growth. Waste generation per capita is also expected to surge, which is anticipated to augment the growth of garbage collection trucks in Europe over the forecast period.
Europe has also been a prominent manufacturer of refuse collection vehicles (RCVs) owing to high customer base and stringent government regulations, which limit the import of trucks from other regions. Manufacturers based in Germany and the U.K. are focusing on the development of CNG-based vehicles as well as electric and hybrid electric vehicles. In accordance with the above, the market in Europe is flourishing with the sales for garbage collection trucks increasing at an exponential rate.