Most industrial trucks are equipped with hydraulic systems designed for specific operations, for which the required power is supplied by the internal combustion engine (ICE). The largest share of the power consumption is required by the hydraulic system during idling operations, and, consequently, the current literature focuses on energy saving strategies for the hydraulic system rather than making the vehicle traction more efficient. This study presents the preliminary realization of an electric-powered hydraulic pump system (e-HPS) that drives the lifting of the dumpster and the garbage compaction in a waste compactor truck, rather than traditional ICE-driven hydraulic pump systems (ICE-HPSs). The different components of the e-HPS are described and the battery pack was modelled using the kinetic battery model. The end-of-life of the battery pack was determined to assess the economic feasibility of the proposed e-HPS for the truck lifespan, using numerical simulations. The aim was twofold: to provide an implementation method to retrofit the e-HPS to a conventional waste compactor truck and to assess its economic feasibility, investigating fuel savings during the use phase and the consequent reduction of CO2 emissions. Results show that the total lifespan cost saving achieved a value of 65,000 €. Furthermore, total CO2 emissions for the e-HPS were about 80% lower than those of the ICE-HPS, highlighting that the e-HPS can provide significant environmental benefits in an urban context.