Utility Trucks Market Size, Share & Trends Analysis Report By Product (Garbage, Fire, Dump, Sweeper Trucks), By Engine (ICE, Electric), By Region (North America, Europe, APAC), And Segment Forecasts, 2019 - 2030

Industry Insights

The global utility trucks market size was estimated at USD 47.90 billion in 2017 and is projected to expand further at a CAGR of 7.7% over the forecast years. Increasing municipal budget allocations and growing need for sustainable infrastructure is boosting the adoption of utility trucks. The market growth is also attributed to the increasing demand for dump trucks in the regions with extensive construction and mining activities. Moreover, owing to the rising cases of fire incidents, various governments have started implementing stringent regulations concerning fire safety and rescue operations, which is bolstering the demand for fire trucks.

Rising focus on waste management techniques owing to the increasing solid waste disposal rate is proliferating the demand for garbage trucks. According to the World Bank Group, the municipal solid waste is expected to reach around 2.2 billion tonnes by 2025. This has forced various governments across the globe to frame stringent regulations regarding solid waste management and disposal, which has increased the municipal budgets.

For instance, the Indian government has started a cleanliness drive campaign, “Swacchh Bharat Mission”, for the period 2014 to 2019, which is one of the long-term high budget plans. Moreover, the government of China has invested a significant amount for advancing its waste management infrastructure by considering environmental conditions. In 2018, the country banned the import of 24 kinds of solid wastes including textiles, low-grade polyethylene terephthalate used in plastic bottles, and contaminated waste among others.

The Canadian government is developing a strategy to reduce the country’s Greenhouse Gas (GHG) emission effects and increase the number of zero-emission vehicles. Similarly, in the U.S., the Corporate Average Fuel Economy (CAFÉ) standards are propagating the adoption of energy-efficient automobiles by formulating regulations for the reduction of fossil fuel consumption and enhancing utilization of alternative fuel vehicles. This, in turn, creates a highly conducive environment for market growth.

Product Insights

Based on product, the global utility trucks market can be categorized into garbage, fire, dump, and sweeper trucks. The dump truck segment led the market in the past and is projected to expand further at the highest CAGR during the forecast period. This growth can be attributed to the increasing construction and mining activities in emerging economies, such as China and India. For instance, according to the World Mining Congress, China is the world’s largest producer of mineral raw materials and accounted for around 23.62% of the global mineral production in 2016.

Garbage trucks segment is also likely to witness significant development on account of increasing municipal budgets for waste management and disposal. Rear loader garbage trucks, in particular, led this segment in 2017. Growing importance of fuel-efficient vehicles and stringent fuel emission standards will boost the demand for front and side loader vehicles.

Increasing focus on automated cleaning is expected to offer potential growth opportunities for sweeper truck manufacturers. With infrastructure maintenance becoming a focus area, large township developers and civic authorities are becoming significantly dependent on specialized road cleaning equipment. The Asia Pacific sweeper truck market is currently witnessing higher demand owing to emphasis on clean and sustainable infrastructure.

Engine Type Insights

Based on engine type, the market is segmented into ICE (Diesel, Gasoline, Hybrid, CNG) and Electric. The ICE segment dominated the market in 2017 and is expected to continue the trend over the forecast period. This is owing to the heavy-duty applications of these trucks, which require high torque ratio. Since diesel and gasoline-powered engines offer higher torque than compressed natural gas (CNG) and hybrid engines, the current fleet of utility trucks is mostly fuel-powered.

However, continuous technological advancements, stringent emission standards for heavy-duty trucks, and increasing focus on electrically-powered vehicles are expected to hinder the growth of the diesel and gasoline-powered vehicles. The market for heavy-duty electric trucks is still in nascent stage, as these trucks are used to carry heavy loads over smooth and rough terrains. Therefore, these vehicles require large capacity batteries for operation, which significantly increases the vehicle cost. However, over the coming years, developments in battery technology and growing demand for electric trucks will result in reduced prices of these vehicles.

Regional Insights

The Asia Pacific region dominated the market in 2017 and will maintain its dominance throughout the forecast years due to high product demand as a result of rising number of construction and mining projects in the region. For instance, China’s Belt and Road initiative is expected to open up new growth opportunities for the market in the construction sector. In addition, Tokyo Olympics 2020 is also one of the significant factors behind the rising demand for utility trucks in Japan.

North America is expected to be the second fastest-growing regional market. The U.S. held the largest revenue share in the North America market in 2017 owing to high demand from the companies or government agencies working for the end-use industries, such as waste management, construction services, fire safety, and infrastructure cleaning services. The U.S. also accounted for a large share of the global mining production, which will drive the regional market further.

Utility Trucks Market Share Insights

Prominent industry participants include AB Volvo; Bucher Industries; BYD Motors, Inc.; Daimler AG; Oshkosh Corp.; and Rosenbauer International AG. Companies are focusing on technological innovations and new product launches to maintain their strong foothold in the market. Since the products considered under utility trucks market serve different applications, the report includes the market ranking of players for each product segment separately to avoid overlapping. Moreover, the companies are investing in R&D owing to the rising demand for fuel-efficient vehicles.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. For the purpose of this study, Grand View Research has segmented the global utility trucks market report on the basis of product, engine type, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2030)

  • Garbage

    • Front Loader

    • Rear Loader

    • Side Loader

  • Fire

  • Dump

  • Sweeper

    • Street Sweeper

    • Compact Sweeper

• Engine Type Outlook (Revenue, USD Million, 2015 - 2030)

  • ICE (Diesel, Gasoline, Hybrid, CNG)

  • Electric

• Regional Outlook (Revenue, USD Million, 2015 - 2030)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Rest of the World