Long-term sustenance through digitized mobility to drive the Utility Equipment Market

New York, United States, 2022-Apr-15 — /EPR Network/ —

Global utility equipment sales are set to be valued at over US$ 10.7 Bn in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at around 5% CAGR from 2021 to 2031. Obligatory use of garbage trucks, sewer drainage vehicles, and winter maintenance equipment is boosting demand for utility equipment across regions. Key factors driving demand for utility equipment are advent of smart technologies, rising infrastructure development, increasing focus on rental business, and surging requirement for high speed utility equipment.

To remain ‘ahead’ of your competitors, request for a Sample@ https://www.persistencemarketresearch.com/samples/32731

Product launches, partnerships, and acquisitions are being witnessed on a large scale in this landscape.

• Global Environmental partnered with U.S. Hybrid to provide fuel cell sweepers to Caltrans. Global is manufacturing fuel cell street sweepers at its facility in San Bernardino, CA.
• Two new products were launched in the Scrubmaster B400-R series. The Scrubmaster B400 RH is equipped with a 150-litre dirt hopper and automated high dump, whereas, the Scrubmaster B400 RM collects coarse dirt in two 44-litre dirt hoppers for manual emptying.
• Fujian Longma Environmental Sanitation Equipment Co., Ltd. announced the product layout and development of energy products such as e-compression garbage trucks, e-garbage bin carriers, e-detachable container garbage trucks, electrical self-loading and discharging garbage trucks, and electrical road washing and sweeping trucks.

Key Takeaways from Market Study

• Persistence Market Research predicts healthy growth in demand for street sweepers owing to the need for aesthetic appearance of streets and reduction of PM emissions, dirt, and debris.
• Advancements in technology are anticipated to have a positive impact on the market owing to increased efficiency and reliability of products.
• Demand for electric utility equipment is expected to surge significantly compared with conventional ones, owing to increasing environmental regulations on emission standards.
• Airport sector to hold 1/3 share in the global utility equipment industry.
• Government initiatives toward developing perfect waste management infrastructure could bolster consumption of utility equipment.
• Acquisitions and product launching are the two dominant key development activities observed in the market.
• The global utility equipment market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -5.1%.
• Market in Russia is projected to expand at a CAGR around 6%, while that in the U.S. at 4.2% through 2031.
• Market in GCC countries and India is set to rise at 4.5% CAGR over the next ten years

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/32731

Industry Competition

The market is fragmented with key players accounting for more than one-fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.

Some of the key players in this industry are Bucher Industries AG, Dongfeng Motor Group Co., Ltd., McNeilus Truck & Manufacturing, Inc., Dennis Eagle Ltd., FAUN Umwelttechnik GmbH & Co.KG, Aebi Schmidt Holding AG, Zoomlion Heavy Industry Science & Technology Co. Ltd., etc.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/32731

Related Reports:

• Automotive Bumpers Market

  Global automotive bumper market is predicted to push past a healthy revenue value of US$ 9 billion with a robust CAGR of 5.9% by the end of 2022. Detail here.

• Automotive Cockpit Electronics Market

  Global Automotive Cockpit Electronics Market – check share, size, revenue, valuation, CAGR, regional outlook, key players, competitive landscape, top manufacturers & forecast.

About us: Persistence Market Research

Contact Us:

Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com