The global demand for the electric garbage vans market is poised to grow at an impressive rate of 13.5% during the period covering 2023 to 2033. The total valuation of the electric garbage van market is estimated to reach USD 2,630.1 million by 2033 expanding from USD 741.3 million in 2023.
Growing general awareness and increased government promotion for electric vehicles have created a favorable market for electric garbage vehicles over these years. Environment-friendly measures and the growing adoption of emission-free vehicles in large cities have also necessitated the use of electric garbage vans widely.
Additionally, the global creation of trash has grown as a result of population growth and urbanization. As per a report released by the World Bank, it is predicted that by 2050, there will be a 70% increase in global garbage. So, as a result, the demand for electric garbage vans would increase manifold over the next two to three decades.
Proper waste management in urban areas has increased the need for constantly operating collecting vehicles that prevent any further pollution, like LEVs. Due to these characteristics also, electric garbage vehicles are highly sought after in order to comply with the continually changing emission norms.
Moreover falling battery prices, and the development of high-performance electric vans are supposed to strengthen the electric garbage van market further. Over the forecast years, such advancements on the product side are anticipated to turn out to be the main factors driving the market.
Necessary regulations and incentives in place for encouraging firms that supply EV charging infrastructure is also expected to support the market opportunities. Additionally, it is also anticipated that technology improvements in the renewable energy sector would present growth prospects for all types of EVs.
| Attributes | Details |
|---|---|
| Electric Garbage Van Market Share (2022) | USD 650.3 million |
| Electric Garbage Van Market Size Value (2023) | USD 741.3 million |
| Electric Garbage Van Market Size Value (2033) | USD 2,630.1 million |
| Electric Garbage Van Market Growth Rate (2023 to 2033) | 13.5% |
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Electric garbage vans have played a crucial part in the collection of the trash produced in city localities since their introduction in the earlier decade. As per the previous records obtained from the survey reports, the global electric garbage van market value in 2018 was USD 471 million.
Then the following years, the sales of electric garbage vans grew by a promising 8.4% before witnessing a sudden drop by the outbreak of Covid-19. Despite this drawback, the overall market continued to grow positively and reached a valuation of USD 650.3 million by the year 2022. In fact, the pandemic actually had a positive impact on the market opportunities as cleanliness activities picked up subsequently.
Any development for sustainability and the environment would be in favor of any type of assets and equipment used thereof including garbage EVs. Furthermore, several city management bodies and environmental agencies have shifted their focus to the cleanliness of the cities.
Unfortunately, a lack of sufficient infrastructure for the charging and maintenance of electric garbage vehicles is expected to restrain the market growth in many cities. Limited capacity and the short range of electric garbage vehicles are limiting the market's expansion at a higher rate.
By the end of the year 2022, the electric garbage van product category with a larger market share was battery electric vans. As these types of electric garbage vans are suitable to cover a larger distance in large cities this segment could hold its dominance in the future also. Moreover, modern battery electric garbage vans also offer a lot of storage space and are energy efficient which is poised to further drive this segment.
On the other hand, due to the growing use of electric garbage tippers, this segment is also anticipated to rise strongly during the forecast years. When comparing the costs, efficiency, and productivity of all types of electric garbage vans, ASLs have the minimum overall cost of trash collection. Furthermore, electric garbage tippers are best suited for populated neighborhoods which may support this segment's growth opportunities over the forecast years.
In the earlier years, the market was mostly controlled by the industrial electric garbage vans segment because of the higher price of EVs. Presently, the expansion of this market segment depends on the financial resources being allocated and careful planning for waste management in industries.
Interestingly, after the pandemic years, commercial electric garbage vans have witnessed an exceptional growth trajectory, particularly in emerging economies. Further according to the electric garbage vans market statistics report, this segment may record higher growth during the years through 2033.
Having reached USD 80.6 million in 2022, the United States electric garbage vans market is expected to grow at a faster rate ahead. Stringent pollution laws are getting enacted by Biden Administration, which is anticipated to enhance the market valuation up to USD 326.1 million by 2033.
More and more city administrations are emphasizing the use of electric garbage vans in their fleets, and the market in the United States is growing positively. For example, the Los Angeles sanitation service has committed to converting its garbage collection vans to battery power by 2035. Similarly to this, the New York City Sanitation Department plans to have a completely electric garbage vans fleet by 2040,
Germany comes second, after the United States, by generating a revenue of USD 76.7 million from its electric garbage vans industry. With the presence of a strong manufacturing base for all types of automotive products, it is the leading market in Europe. The introduction of new models of electric garbage vans onto the market by major market participants in Germany is accelerating the progress of the industry.
Meanwhile, the demand for electric garbage vans in the United Kingdom is swelling at a higher rate than in any other nation in Europe. Over the next ten years, the United Kingdom's electric garbage vans industry is predicted to register a CAGR of 11.5%. In addition, the United Kingdom government has vowed to make practically all cars and vans zero-emission vehicles by 2050.
The electric garbage vans market in China is expanding as a result of increasing orders from many Asia Pacific countries. Additionally, there is evidence of better-coordinated policy creation and execution in the areas of waste and material resources. Due to so many characteristics, China is expected to have a higher market growth rate of 10.8% in electric garbage van bodywork.
On the other hand, Japan and Australia are the two noteworthy regions in the Asia Pacific for the adoption of electric garbage collection vehicles. As per the FMI experts, the Japanese and Australia markets were estimated to be around USD 4.5 million and USD 3.9 million in 2022.
The government of India passed strict emission rules and regulations in response to growing environmental concerns, which have driven up the demand for all types of EVs. Maybe for this reason, the electric garbage vans production industry is growing at a higher rate than any other nation in the Asia Pacific. As per the market reports, this market in India is projected to grow at 14.9% during the years 2023 to 2033.
Modern waste management techniques are now in high demand in India due to fast-pacing industrialization, urbanization, and population increase. Consequently, all outdated solid waste collecting vans are being replaced by electric garbage vans creating a higher growth opportunity for domestic market players.
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Many developed economies have pledged to meet their self-determined GHG reduction goals according to the Kyoto Protocol's second phase by 2030. So the demand and sales of all types of EVs including electric garbage vehicles are poised to remain higher through the next ten years. To improve dependability, several city sanitation agencies and waste management companies are testing and developing modern electric garbage trucks and vans.
Since electric garbage vans are quieter, noise pollution can also be avoided making it more acceptable in busy streets and localities. To illustrate, in 2019, the California-based famous garbage management company GreenWaste added a first-generation electric garbage van from BYD to its fleet. Use of this vehicle yearly saves 78 metric tons of CO2 equivalent and approximately 6,000 gallons of fuel.
Many waste management businesses with sizable fleets are thinking about modernizing their electric garbage collection van fleets with digital connections to enable simple remote administration and tracking of their vehicles.
Additionally, electric garbage van manufacturers can utilize this information gathered through telematics to evaluate the performance of their products and improve their market position. Therefore, the overall market is posed to advance due to the rising usage of linked solutions by electric garbage vans manufacturers.
The net worth of electric garbage vans sold globally could sum up to USD 741.3 million in 2023.
The global demand for electric garbage vans is projected to grow at an average of 13.5% CAGR through 2033.
The overall market valuation worldwide is predicted to reach USD 2,630.1 million by 2033.
The sales of electric garbage vans in China were figured out to have created nearly USD 3.9 million in 2022.
Prestantia, Jessun, and Ceeon India are the leading suppliers in the present electric garbage van market.
| Expected Market Value (2023) | USD 79.2 billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 130 billion |
| Projected CAGR (2023 to 2033) | 5% |
| Market Size Value (2023) | USD 4,140.2 million |
|---|---|
| Market Size Value (2033) | USD 28,317.3 million |
| Market CAGR (2023 to 2033) | 21.2% |
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