Increasing government expenditure coupled with large-scale projects such as Swachh Bharat Mission and Smart City program to drive India solid waste management vehicles market through FY2026
According to TechSci Research report, “India Solid Waste Management Vehicles By Vehicle Type (Auto Tipper or Hopper Tipper, Garbage Compactor Truck, Dumper Placer, Earth Moving Equipment), By Region, Competition Forecast & Opportunities, FY2016 – FY2026”, India solid waste management vehicles market stood at USD 88.49 Million in FY2020 and is projected to grow at a CAGR of 12.59% through FY2026 to reach USD 141.42 Million during the forecast period. Continuous rise in waste generation due to population expansion across cities and increased public-private partnership between garbage truck manufacturer & municipal corporation are the drivers for the increased demand of solid waste management vehicles in the developing economy through FY2026.
In order to increase consumer awareness, government of India has launched programme including Swachh Bharat Mission and Clean India. Besides, government has mandated regulations as part of the guidelines, municipal corporations need to use solid waste management vehicles for waste collection, driving the growth of the market until FY2026.
Multiple government and non-profit organizations have come forward over the concerns generated by increasing pollution due to non-availability of proper solid waste management in the country. However, with the increasing environmental awareness, people have started to dispose solid waste in a proper and segregated manner which has resulted in increase in collection of solid waste, thereby driving the market.
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Auto tipper or hopper tipper dominated the India solid waste management vehicles market in FY2020 with share of 88.49% as these auto tippers are preferred for the collection of waste over their counterparts. Major companies operating in the market include Antony Motors Pvt. Ltd., Hyva India Pvt. Ltd., TPS Infrastructure Limited, Kam-Avida Enviro Engineers Pvt. Ltd., Commercial Engineers & Body Builders Company Ltd., IPWT Engineering Pvt. Ltd., Kailash Vahan Udyog Limited, Mahabull Infra Engineers Pvt. Ltd., Narmada Offshore & Technical Services Pvt. Ltd., Durga Tractors Private Limited, Maniar & Company and others.
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“In the present scenario, majority of solid waste management vehicle suppliers carry out most of their business from nearby municipal corporations. Only few suppliers such as Antony Motors and TPS have a pan India presence. Solid waste management (SWM) vehicle suppliers should focus on establishing joint ventures with regional vehicle body builders and fabrication units in order to address the requirements of municipal corporations located at distant locations, with no direct access to SWM vehicle suppliers. Solid waste management vehicle suppliers can transfer their technology to these vehicle body builders, while the body builders can supply solid waste management vehicles to municipal corporations on demand.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Solid Waste Management Vehicles By Vehicle Type (Auto Tipper or Hopper Tipper, Garbage Compactor Truck, Dumper Placer, Earth Moving Equipment), By Region, Competition Forecast & Opportunities, FY2016 – FY2026” has analyzed the potential of solid waste management vehicles market, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.
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