Fact.MR has provided detailed information about the price points of key manufacturers of Refuse Compactor Vehicle positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
According to Fact.MR, market research and competitive intelligence provider, Europe refuse compactor vehicle market is estimated at US$ 98.5 million in 2023 and is expected to expand at an impressive CAGR of 4.1% during the forecast years of 2023-2033.
Europe is known for its sustainability goals and waste management efficiency. Advancements in waste collection trucks is one of the key factor driving this popularity. Refuse compactor vehicles (RCVs) are the most common garbage trucks on Europe roads. The ease of loading and the increase in loading capacity are the prime reasons for their wide acceptance.
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With increasing population and urbanisation, Europe is producing more waste than ever in the urban localities. The need to collect and dispose of this increasing waste while favouring the circular economy targets is the key challenge. Notable research has ignited in the region on how waste can be collected, segregated and reused. This is expected to shape the future of RCVs in the region.
In the present scenario, hydrogen and electric hybrid fuelled RCVs are in vogue to address the need for zero carbon emission and shift the dependence towards sustainable fuel source. However, the associated cost with these advancements is expected to be the key challenge for the market expansion in the region.
Key Takeaways from Market Study
Market Development
RCV market is fragmented among the local leaders and a healthy competition sustains among them. However, global automotive leaders, like Volvo, showing interest in the field has challenged their persistence. Prominent RCV Manufacturers are coming together in partnerships and agreements to pace up the development and technological advancements. The utmost focus in the industry is the reduction of human effort and increase operating convenience with zero carbon emissions.
Manufacturers in the field are also focusing on adding functionalities to varied loader types, for instance curotto can to front loaders, to diversify the applications of RCV to different industrial sectors.
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Some of the leading players include:
Segmentation of Refuse Compactor Vehicle Industry Research
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe refuse compactor vehicle market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of loader type (rear loader, side loader, satellite), body capacity (up to 6 cubic meter, up to 12 cubic meter, up to 18 cubic meter, more than 18 cubic meter), across major countries of Europe (Germany, France, UK, BENELUX, Nordics, Italy, Spain, rest of Europe).
Table of Content (Includes Figures: 85 & Tables: 95)
2.1. Market Definition and Introduction
2.2. Market Taxonomy/ Research Scope
3.1. Europe Churn Rate, by Country
3.2. Sustainable Developments in Europe Garbage Truck Industry and its Adoption rate, By Country
3.3. Opportunity Assessment
3.3.1. Total Available Market (US$ Million)
3.3.2. Serviceable Addressable Market (US$ Million)
3.3.3. Serviceable Obtainable Market (US$ Million)
3.4. Market White Space Assessment
3.5. Market Dynamics
3.5.1. Market Growth Drivers
3.5.2. Market Restraints
3.5.3. Market Opportunity
3.5.4. Market Trends
TOC Contd…..
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