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
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.
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- 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
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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.
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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.
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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.
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.
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.
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
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Utility Equipment Market Industry Research
- Garbage Trucks
- Front Loaders
- Rear Loaders
- Side Loaders
- Street Sweeper
- By Type
- Medium and Heavy
- By Technology
- Sweepers & Washers
- By Type
- Static Compactors
- Winter Maintenance Equipment
- Snow Ploughs
- 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
- Electric Utility Equipment
- Conventional Utility Equipment
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