Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Sunday, December 15, 2024 · 769,129,444 Articles · 3+ Million Readers

Global Electric Garbage Van Market Set For 13.2% Growth, Reaching $1.14 Billion By 2028

 Electric Garbage Van Market

Electric Garbage Van Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!

The electric garbage van market size is expected to see rapid growth in the next few years. It will grow to $1.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%”
— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, December 13, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!

Is the Electric Garbage Van Market Set to Exert Significant Growth?

The electric garbage van market size has seen a significant hike in recent years. It is pegged to grow from $0.62 billion in 2023 to $0.70 billion in 2024 at a compound annual growth rate CAGR of 122.9%. The spike in the historic period can be credited to growing environmental regulations, rising urbanization, escalating fuel costs, government incentives for clean energy vehicles, and heightened public awareness of sustainability.

Observe the electric garbage van market at a glance with a sample: https://www.thebusinessresearchcompany.com/sample.aspx?id=19408&type=smp

What does the future hold for the Electric Garbage Van Market?

The electric garbage van market is set to witness rapid growth in the following years. Expected to rise to $1.14 billion by 2028, at a compound annual growth rate CAGR of 13.2%. The boost in the forecast period can be attributed to the expansion of charging infrastructure, rising adoption of smart city initiatives, changes in emission regulations, developments in sustainable waste management practices, and increase in battery capacity and energy density. Key trends to watch out for in the forecast period include advancements in battery technology, growth in smart waste collection systems, expansion of public and private charging networks, demand for modular and customizable electric garbage vans, and infrastructure development.

Peruse the full insights of the electric garbage van market in greater detail: https://www.thebusinessresearchcompany.com/report/electric-garbage-van-global-market-report

What Factors are Poised to Drive the Growth of the Electric Garbage Van Market?

The growing adoption of emission-free vehicles is projected to steer the electric garbage van market forward. Emission-free vehicles are vehicles that emit no exhaust during operation, typically powered by alternative energy sources such as electricity or hydrogen. They are adopted due to their environmental benefits, government incentives, and technological advancements offering lower operating costs with improved energy efficiency. Utilization of electric garbage vans contributes to the adoption of emission-free vehicles by replacing traditional waste collection trucks with zero-emission alternatives. For instance, according to the Society of Motor Manufacturers and Traders SMMT, a UK-based trade association, the number of battery electric vehicles in use surged by nearly 47.3% in April 2024 compared to 2022, making these zero-emission vehicles account for 2.7% of all cars on the road, up from 1.9% the previous year. Hence, this growing adoption of emission-free vehicles is projected to fuel the market growth.

Which Companies Hold the Reins in the Electric Garbage Van Market?

Major companies operating in the electric garbage van market include Mercedes-Benz, Hyundai Motor Company, Tesla Inc., Daimler Trucks, Groupe Renault, Scania Group, Mitsubishi Motors, Iveco Group Company, Hino Motors, MAN Truck & Bus, Oshkosh Corporation, Terex Corporation, Heil Co., Kirchhoff Group, and Peterbilt, among others.

What are Some New Developments in the Electric Garbage Van Market?

Companies leading the electric garbage van market are focused on creating innovative solutions such as all-electric waste collection vehicles. These vehicles, powered entirely by electricity, help reduce emissions, lower operational costs, and improve efficiency in urban waste management. For instance, in July 2023, Grundon Waste Management, a UK-based waste management company, introduced the country's first all-electric waste collection vehicle, a Scania model, to provide zero-carbon waste collections in Reading and Newbury.

How is the Electric Garbage Van Market Segmented?

The electric garbage van market covered in this report is segmented as follows:
1 By Product Type: Garbage Tipper, Garbage Cycle eRikshaw, Battery Electric Van, Other Product Types
2 By Loading Capacity: Less Than 500 Kg, 500 To 800 Kg, More Than 800 Kg
3 By End User: Commercial Garbage Van, Industrial Garbage Van, Other End-Users

How is the Electric Garbage Van Market Spread Across the Globe?

Asia-Pacific held the largest share in the electric garbage van market in 2023, with regions covered in the report including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Browse more similar reports-
Electric Bikes and Scooters Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/electric-bikes-and-scooters-global-market-report
Commercial Electric Vehicles Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/commercial-electric-vehicles-global-market-report
Passenger Electric Vehicles Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/passenger-electric-vehicle-global-market-report

About The Business Research Company
Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn

Powered by EIN Presswire

Distribution channels: Business & Economy, Companies, International Organizations, Waste Management, World & Regional

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

Submit your press release