Utility Equipment Market

Global Market Study on Utility Equipment: Sales of Electric Equipment to Rise Rapidly Over Decade

Utility Equipment Market Segmented By Garbage Trucks, Street Sweeper, Static Compactors, Winter Maintenance Equipment, Sewer & Drainage Equipment Product with Electric Utility Equipment, Conventional Utility Equipment Type

  • September-2021
  • PMRREP32731
  • 303 Pages
  • Automotive
  • PPT, PDF, WORD, EXCEL

Market Snapshot

As per Persistence Market Research’s latest industry analysis on utility equipment, the global market is witnessing steady growth in 2021 with worldwide revenue up 4.1% year-on-year. Revenue across the world is projected to increase 1.6X reaching a valuation of US$ 17.4 Bn by 2031.

Top suppliers of utility equipment include tier-1 companies such as Bucher Industries AG, McNeilus Truck & Manufacturing, Inc., and Dongfeng Motor Group Co., Ltd., who together accounted for more than 20% share of global revenue in 2020, as per ratings on the basis of market share, market reach, clientele, etc.

Find Out More about the Report Coverage

Companies

  • Bucher Industries AG
  • Fayat Group
  • Elgin Sweeper Company (Federal Signal Corporation)
  • Global Environmental Products, Inc.
  • Hako GmbH (Hako Group)
  • Tenax International S.p.A.
  • TYMCO Inc.
  • Alfred Kärcher SE & Co. KG
  • McNeilus Truck & Manufacturing, Inc
  • Zoomlion Heavy Industry Science & Technology Co., Ltd.
  • Fujian Longma Environmental Sanitation Equipment Co., Ltd.
  • Dongfeng Motor Group Co., Ltd.
  • Heil Environmental Industries Ltd.
  • PAK-MOR Ltd.
  • FAUN Umwelttechnik GmbH & Co.KG(KIRCHHOFF Group)
  • EZ-Pack Refuse Hauling Solutions, LLC
  • Labrie Enviroquip Group Inc.
  • Bridgeport Manufacturing Inc.
  • Dennis Eagle Inc. (Dennis Eagle Limited)
  • Scranton Manufacturing Corporation, Inc. (New Way)
  • Alamo Group Inc.
  • Geesinknorba Ltd.
  • Curbtender, Inc.

Key Insights Offered in Utility Equipment Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Aftermarket Penetration and Channel Reach
  • Component Providers, Sub-contractors, and Assembly Service Providers
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Demand for Utility Equipment and How to Navigate
  • Recommendation on Key Winning Strategies

Customize this Report

Explore Intelligence Tailored to Your Business Goals.

Sales Analysis of Utility Equipment from 2016 to 2020 Vs Market Projections for 2021 to 2031

Historically, from 2016 to 2020, sales of utility equipment increased at around 1.4% CAGR, wherein, developed countries such as the U.S., Canada, and Germany contributed significant share in the global market.

On a global scale, vigorous growth in the past few years, which can be attributed to rising expenditure on R&D activities conducted by major players on the supply side. Slowing down in 2020 due to the COVID-19 pandemic led to less cash flow, meaning, less overall value contribution to the market. Yet, the market is anticipated to show a slingshot effect after a few quarters, most likely in 2022, and start a bearish behavior then after.

The municipal sector drives the market for utility equipment. China and even countries from Latin America have started showing signs of revival in the first quarter of 2021 itself.

The market is also on the verge of showing volatility in terms of end use. Since the pandemic brought about an eye-opening condition for every section and sector of industry, it led to a shift in the utility equipment space too. Moreover, technological adaption that would normally have taken years occurred in a matter of months. COVID-19’s continued effects will be felt even after the pandemic subsides.

Disruption in the supply chain was exposed throughout the past six months, causing some merchants to recognize how ill-equipped they are to anticipate and respond to consumer demand and disruptions in unprecedented times.

Considering the stats and shift in dynamics, the global market for utility equipment is forecast to expand at a healthy CAGR of more than 5% over the decade.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Get actionable insights on Ship Repair And Maintenance Services Market

What are the Key Opportunities Awaiting Utility Equipment Manufacturers?

As the number of waste generation per capita increases, there will be growth in utility equipment sales to accommodate the demand of equipment. Leading manufacturers are focused on expanding their sales and distribution networks, acquisitions, along with launching different innovative products to cater customer demand. Local manufacturers need to focus on increasing their customer base with customized products offerings.

Explore Persistence Market Research’s expertise in promulgation of the business !

Which Trends are Set to Influence Demand for Utility Equipment?

Usage of alternative powering options such as CNG, electric, and fuel cells is likely to drive sales of utility equipment across regions. Utility equipment is mostly diesel-operated vehicles. For instance, the U.S. is estimated to have a refuse collection fleet of 180,000, burning approximately 1.2 Bn gallons of diesel per year. Further, emissions from these vehicles pose health threats to residents as well as drivers.

Concerned with these problems and stringent regulations from local authorities, makers are now inclined toward producing environment-friendly utility equipment that emits low amounts of harmful gases as compared to diesel based utility equipment.

Adoption of electric, CNG, and fuel cell models for powering utility equipment is a key trend being observed in this landscape. Also, increasing preference toward automated utility equipment is expected to drive industry growth over the coming years.

Which Region is Expected to Drive Most Sales of Utility Equipment?

With an absolute dollar opportunity of over US$ 1.6 Bn, North America is expected to be the most lucrative market for utility equipment suppliers. The U.S. leads the North American market and is expected to witness 1.5X growth during 2021-2031.

The U.S., being one of the largest economies and fastest-growing markets in the world due to economic growth, attains a podium position in the utility equipment space. The region also accounts for major exports to the Middle East where manufacturers are few and opportunities are ample in the waste management sector.

utility-equipment-market

Country-wise Analysis

What Makes the U.S. a Leading Market for Utility Equipment?

The market in the U.S. expanded 0.9% from 2016 to 2020. According to the United States Environmental Protection Agency, every year, U.S. landfills are occupied with 139.6 million of waste per year. The 268 million tons of recycling and landfill waste generated each year is primarily paper and paperboard waste. This indicates the size of the U.S. waste management sector.

Among all other countries, the U.S. ranks number one in solid waste generation per metric ton. It also holds a prominent share in the winter maintenance equipment market.

Snow attachment plays a vital role in road maintenance to clear snow for vehicles. Removal of snow at U.S. airports is necessary as snowfall is heavy in the country during December through February, and sometimes unexpected snowfall arrives in November and March as well, thereby driving the need for utility equipment.

Why are Utility Equipment Suppliers Looking toward Germany?

In 2020, Germany accounted for over 16% share of the Europe market for utility equipment. Germany has a robust economy due to significant market share in the production of automotive, mechanical engineering, chemical, and electrical industries products.

Waste from all these industries is appropriately handled by utility equipment. Electric utility equipment is pegged to create substantial demand in the German market.

Recycling of municipal waste is comparatively high in Germany. According to the Federal Statistical Office of Germany, out of the 50,643 ‘000 tons of municipal waste generated in 2019, recycling of 34,227 ‘000 tons had taken place. This indicates predominant demand for static compactors in utility equipment.

Category-wise Insights

Which Product Holds a Prominent Share in Global Utility Equipment Sales?

Garbage trucks account for around 50% share of the global market. Increase in waste generation per capita is directly associated with the consumption of garbage trucks. According to estimates by the World Bank, solid waste generation is estimated to grow up to 3.4 Bn tons by 2050.

Thus, with increasing population and rising municipal solid waste generation, government bodies are investing substantial amounts to bring efficiency in the working of waste water treatment and solid waste management plants. This is a driving factor fuelling demand for garbage collection trucks.

There have also been technological up-gradations in garbage collection vehicles to enhance the operational efficiency of refuse collectors.

Which End Use of Utility Equipment Generates Most Market Revenue?

Municipal use of utility equipment is projected to embrace more than 50% market share. It accounts for as much as 65% of the market share by value.

The reason behind substantial increment in demand is due to the need for proper and efficient solid waste management, waste disposal, and recycling with the use of highly equipped refuse collection vehicles. Adoption of utility equipment in across developing countries is expected to increase over the coming years.

Along with waste removal, sewer and drainage equipment has seen a surge in demand owing to the wide range of end uses such as municipalities, mining, and other civil works. Demand from municipal end use is expected to rise at a significant growth rate over the forecast period of 2021 to 2031.

Why is Conventional Utility Equipment Still Highly Sought-after?

Conventional utility equipment holds more than nine-tenth of the market share. This is because most utility equipment is powered by diesel.

However, electric utility equipment is in an emergent phase and is likely to grow at a high rate over the decade. Countries around the world are keen to use electric utility equipment. Europe and North America are likely adopt electric utility equipment in a big way over the coming years.

On the flip side, all utility equipment is commercial, so they require more power for mobility and other functions. Electric utility equipment mostly does not fulfil this demand. As such, conventional utility equipment is anticipated to remain highly sought-after through the years ahead.

Has COVID-19 Affected the Sales of Utility Equipment?

COVID-19 has led to a significant plunge in the sales of utility equipment. Moreover, the pandemic brought many challenges that caused manufacturing and supply chain constraints causing shipments to get delayed. This created a drop in the market by -5.1% in 2020.

COVID-19 has had a significant impact on manufacturing industries ranging from oil and gas to mining as well as the capital goods industry. Global economic activity slowed, with GDP growth in 2020 expected to be as low as -4.9%.

Because of its complicated supply chains, labor-intensive procedures, and interdependencies, the manufacturing industry, which is the producer of utility equipment, was hardest hit. The manufacturing industry is the most vulnerable due to division of labor, modular production processes, and outsourcing to lower costs and improve the efficiency, uniformity, and quality of each operation.

Competitive Landscape

Majority of companies discussed in the report have focused on acquiring other players in the market as a strategy to counter the competition and expand their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, forming alliances, and strengthening of regional and global distribution networks.

Some of the key developments are:

  • In 2020, Bucher Municipal acquired Spoutvac (Spoutvac Industries Pty Ltd). Spoutvac is the largest Australian purpose-built manufacturer of industrial vacuum and water jetting technologies as well as hydro excavation units.
  • In 2019, Alfred Kärcher SE & Co. KG announced a partnership with Brain Corporation for designing high-performing, innovative cleaning machines with AI robotics platform, known as (KIRA) CV 60/1 RS Chariot, for customers in various industries.
  • In 2020, FAYAT completed the acquisition of Dulevo. Dulevo will be a part of FAYAT Environmental Solutions.

Similarly, recent developments related to companies manufacturing utility equipment have been tracked by the team at Persistence Market Research, which are available in the full report.

Utility Equipment Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • MEA
  • East Asia
  • South Asia & Pacific

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • Russia
  • South Africa
  • GCC Countries
  • Turkey
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia & New Zealand.

Key Market Segments Covered

  • Product
  • End Use
  • Type
  • Region

Key Companies Profiled

  • Dongfeng Motor Group Co., Ltd.
  • Bucher Industries AG
  • McNeilus Truck & Manufacturing, Inc.
  • Dennis Eagle LTD
  • FAUN Umwelttechnik GmbH & Co.KG
  • Zoomlion Heavy Industry Science & Technology Co. Ltd.
  • Hako Holding GmbH & Co KG
  • Heil Environmental Industries Ltd
  • Fayat Group (Dulevo International S.p.A.)
  • Alfred Kärcher SE & Co. KG
  • Elgin Sweeper Company (Federal Signal Corporation)
  • Hyva Global B.V.
  • Fujian Longma Environmental Sanitation Equipment Co., Ltd.
  • Alamo Group Inc.

Pricing

Available upon Request

Key Segments Covered in Utility Equipment Market Industry Research

By Product

  • Garbage Trucks
    • Front Loaders
    • Rear Loaders
    • Side Loaders
  • Street Sweeper
    • By Type
      • Compact
      • Truck-Mounted
        • Light
        • Medium and Heavy
    • By Technology
      • Mechanical
      • Vacuum
      • Regenerative
      • Sweepers & Washers
  • Static Compactors
  • Winter Maintenance Equipment
    • Snow Ploughs
    • Spreaders
    • Liquid Sprayers
    • Snow Blowers
  • Sewer & Drainage Equipment
    • Combination Units
    • Recycler Units
    • Jetting and Suction Units
    • Gully Emptier, Dewatering and Transport
    • Dry Suction and Hydro Excavation Equipment (Vacuum Excavators)

By End Use

  • Municipal Utility Equipment
  • Industrial Utility Equipment
  • Airport Utility Equipment
  • Others

By Type

  • Electric Utility Equipment
  • Conventional Utility Equipment

Enquiry before Buying

  • Is the market research conducted by Persistence Market Research?

    Yes, the report has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample, and it will be sent to you through an email.

  • How can I buy this report?

    Persistence Market Research provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.

Media Release

- FAQs -

The global utility equipment market is currently valued at US$ 10.7 Bn.
High rate of urbanization and waste generation is propelling market growth, rising adoption of street sweepers in smart cities.
From 2016 to 2020, demand for utility equipment was sluggish at a CAGR of 1.4%.
Sales of utility equipment are projected to increase at 5% CAGR and be valued at US$ 17.4 Bn by 2031.
Growth of rental business, usage of alternative fuel, and increasing preference toward automated utility equipment are key trends being witnessed in this space.
Dongfeng Motor Group, McNeilus Truck & Manufacturing, Bucher Industries, Dennis Eagle, and FAUN Umwelttechnik GmbH & Co.KG are the top 5 manufacturers of utility equipment, holding 34.3% market share.
The market for utility equipment in Russia is surging at around 6% CAGR.
The U.S., China, Canada, Russia, and Germany are the major demand centers for utility equipment.
The U.S. market is slated to expand at 4.2% CAGR through 2031.
Japan and South Korea are expected to hold 4.3% of global market share by 2031.
The global utility equipment market is currently valued at US$ 10.7 Bn.
High rate of urbanization and waste generation is propelling market growth, rising adoption of street sweepers in smart cities.
From 2016 to 2020, demand for utility equipment was sluggish at a CAGR of 1.4%.
Sales of utility equipment are projected to increase at 5% CAGR and be valued at US$ 17.4 Bn by 2031.
Growth of rental business, usage of alternative fuel, and increasing preference toward automated utility equipment are key trends being witnessed in this space.
Dongfeng Motor Group, McNeilus Truck & Manufacturing, Bucher Industries, Dennis Eagle, and FAUN Umwelttechnik GmbH & Co.KG are the top 5 manufacturers of utility equipment, holding 34.3% market share.
The market for utility equipment in Russia is surging at around 6% CAGR.
The U.S., China, Canada, Russia, and Germany are the major demand centers for utility equipment.
The U.S. market is slated to expand at 4.2% CAGR through 2031.
Japan and South Korea are expected to hold 4.3% of global market share by 2031.

Recommendations

Automotive Bumpers Market

Global automotive bumper market is predicted to push past a healthy revenue value of US$ 9 billion with a robust CAGR of 5.9% by the end of 2022. Detail here.

Automotive Refinish Coating Market

Global Automotive Refinish Coating Market - explore share, size, revenue, valuation, CAGR, regional outlook, key players, competitive landscape, latest trends & forecast.

Europe Compact Wheel Loader Market

By value, Persistence Market Research has estimated 2.5% CAGR for the Europe compact wheel loader market from 2022 to 2032. Top 5 manufacturers of compact wheel loaders accounted for around 60% market share in 2021..

Commercial Aircraft Market

Global commercial aircraft market expected to reach a healthy revenue of US$ 330 billion, and with a robust CAGR of 4.1% for the period from year 2017 to 2022.

Our Clients

Our Clients