Vehicle manufacturers engage municipalities for growth
The Indian Solid Waste Management Vehicles Market is projected to grow at a CAGR of 12.59% through FY2026 to reach US$141.42 million, driven by the government initiatives such as Swachh Bharat Mission which are elevating the consumer awareness for clean environment.
The market was US$88.49 million in FY2020, according to ResearchAndMarkets report on 12 April 2021.
India is the second most populous country and over 152,076 tons of waste is generated in a day. The majority share of solid waste generated across cities is through households.
Manufacturers are engaging in partnership with municipalities, thereby, fuelling the growth of the market.
Local municipalities manage the waste collection process.
The Indian Solid Waste Management Vehicles Market can be segregated based on vehicle type and region. In terms of vehicle type, the market can be segregated based on auto tipper or hopper tipper, garbage compactor truck, dumper placer, earth moving equipment.
Among these, auto tipper or hopper tipper led the market in FY2020 with share of 62.14% and auto tipper are expected to continue witnessing growth in the market until FY2026. The growth in the market can attributed to use auto tipper for door to door collection of waste, contributing to its leading share among its counterparts.
Leading companies involved in the manufacturing of solid waste management vehicle 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. #manufacturing #investment #waste /fiinews.com
