Two key decarbonization technologies will likely diverge
BOULDER, Colo., Nov. 2, 2023 /PRNewswire/ — A new report from Guidehouse Insights examines the global market for zero emissions refuse collection vehicles (RCV) chassis over the next decade.
RCVs occupy a small, but significant part of the global truck market. Improvements to sanitation and waste management have been a key part of societal development over the past few centuries and numerous economic studies have demonstrated a positive correlation between a robust waste management and sanitation policy and economic growth and well-being. According to a new report from Guidehouse Insights, the overall global RCV fleet will not likely increase much during the period of 2023-2032 and the two key decarbonization technologies used in that fleet will likely diverge.
While growth for battery electric vehicles (BEV) products in the European markets is expected to be marked, North America will likely retain a focus on renewable natural gas (RNG) powered powertrains. China, which is likely to become the largest single market for RCVs, is expected to lag both Europe and North America in percentage adoption of both technologies. The same is likely for India, Asia Pacific, and the Middle East & Africa
“The market for biofuels as a direct replacement for conventional fossil-derived diesel fuel is nascent and complex, and issues of supply render analysis beyond the scope of this report,” says Oliver Dixon, senior research analyst with Guidehouse Insights. “However, high level analysis can point to the likely addressable market for biofuel-powered RCVs over the outlook period.”
Mindful of the increasing importance of biofuels such as hydrogenated vegetable oil (HVO) in the overall decarbonization effort, the report provides analyses for continued internal combustion engine (ICE) vehicles for the report’s ten-year period of 2023-2032, according to the report.
The report, Refuse Collection Vehicles, examines the global market for zero emissions RCV chassis over the next decade. This report does not consider either refuse vehicle bodywork or ancillary equipment but, in addition to offering analyses for the overall RCV chassis market, the report looks at the likely adoption rates for battery BEVs and vehicles powered by RNG. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at guidehouse insights.
About GuidehouseGuidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
*The information contained in this press release concerning the report, Refuse Collection Vehicles, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights