Wilmington, Delaware, United States, April 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global underground waste containers market is estimated to flourish at a CAGR of 5.5% from 2023 to 2031. According to Transparency Market Research, sales of Underground Waste Containers are slated to total US$ 1.2 billion by the end of the aforementioned period of assessment.
The underground waste containers market is driven by the increasing demand for smart waste management solutions. With the advent of smart city initiatives, there is a growing need for efficient waste management systems that can optimize the collection and disposal of waste. This has led to the development of smart underground waste containers that can monitor the level of waste and notify the authorities when they need to be emptied.
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The market is also being driven by the increasing popularity of underground waste containers in the healthcare sector. These containers are being used in hospitals and healthcare facilities to store medical waste, which needs to be disposed of safely and efficiently. This presents a significant opportunity for vendors in the market to cater to the specific needs of this sector and offer customized solutions.
The growing population, rapid urbanization, and increasing environmental concerns in emerging markets, such as Asia Pacific and Latin America, are driving the demand for innovative waste management solutions, which presents a significant growth opportunity for vendors in the underground waste containers market.
Key Findings of the Market Report
- The commonly used material type in the underground waste containers market is metal due to its durability, strength, and resistance to weather conditions and vandalism.
- The commercial and industrial categories are expected to have a larger market share in the underground waste containers market due to the larger volume of waste generated in these sectors.
- The use of eco-friendly materials and designs in underground waste containers is gaining popularity, as end-users are increasingly concerned about sustainability and environmental impact.
- The growing emphasis on circular economy principles and the increasing demand for recyclable and reusable waste containers is expected to create opportunities for the underground waste containers market growth in the future.
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Underground Waste Containers Market Growth Drivers & Trends
- The development of innovative materials and designs is leading to the production of more durable and efficient underground waste containers, driving market growth.
- The limited availability of land for waste disposal is a significant challenge faced by many countries around the world. Underground waste containers are an effective solution to address this challenge, as they require less land than traditional waste disposal methods
- The integration of underground waste containers with smart city initiatives is driving the growth of the market, providing a more efficient waste management system for urban areas.
- The customization of underground waste containers to meet specific requirements of end-users is gaining popularity, providing a more tailored solution for waste management.
Global Underground Waste Containers Market: Regional Profile
- The North American market is expected to witness steady growth due to the increasing implementation of sustainable waste management practices and stringent government regulations. The region has a well-established waste management infrastructure, and the adoption of advanced waste management technologies is gaining popularity.
- The European market is expected to witness significant growth due to the increasing emphasis on sustainability and the adoption of circular economy principles. The region has some of the strictest waste management regulations, and the demand for underground waste containers is expected to increase due to the limited availability of land for waste disposal.
- The Asia Pacific market is expected to witness rapid growth due to the increasing urbanization and population growth in the region. The adoption of smart waste management systems and the increasing demand for sustainable waste management practices are driving market growth.
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Underground Waste Containers Market: Competitive Landscape
The global Underground Waste Containers market is fragmented, attributed to the presence of several global as well as regional manufacturers. Some prominent manufacturers are as follows:
- Ecoloxia Environmental Group Inc.
- ESE World B.V.
- Meulenbroek
- Nord Engineering s.r.l
- Oge Metal
- Oktagon GmbH
- Reflex Zin Ltd
- Sotkon
- Suters In-Ground
- Zweva Environment
Some key developments with regard to Underground Waste Containers are as follows:
- In August 2021, Ecoloxia Environmental Group Inc announced the expansion of its waste management services to include the collection and treatment of electronic waste (e-waste) in Galicia, Spain.
- In July 2021, ESE World B.V. announced the launch of a new 2-wheel bin, the ESE 250, which is designed to be more compact and maneuverable for use in urban environments.
Underground Waste Containers Market: Key Segments
By Type
- Underground Waste Containers
- Semi-underground Waste Containers
By Material Type
- Metal
- Plastic
- Others
By Capacity
- Below 1000 L
- 1000 L – 3000 L
- Above 3000 L
By Application
- Commercial
- Residential
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South Americ
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