The global underground waste containers market capacity is expected to reach $1,050.1 million in 2027, from $796.7 million in 2019, growing at a CAGR of 5.9% from 2020 to 2027. Underground waste containers are used to store waste temporarily. These containers have modern & aesthetic look, and are environment-friendly. In addition, they help in controlling odor, offers hygiene, have high waste storing capacity, and are durable in nature.
Factors such as space efficiency, tidiness, and long emptying intervals offered by underground waste containers are expected to fuel the growth of the market. In addition, increase in residential and commercial construction activities globally is expected to boost the growth of the global underground waste containers market. Furthermore, increase in environment-related concern and growth in various industrial sectors such as mining, chemical, and others are expected to enhance the growth of the market. Further, stringent norms related to garbage disposal in the European and North American regions is expected to boost the growth of the market. Involvement of government and local authorities toward sustainable waste disposal is further expected to bolster the growth of the market.
Rise in global population and urbanization increases the demand for more garbage disposal systems; thereby, stimulating the growth of the market. In addition, underground waste containers are being installed in several public places such as shopping centers, airports, malls, metro stations, and other projects. Further, technological advancement such as use of Internet of Things (IoT) to collect garbage provides remunerative opportunities for the key players. By using IoT & dataintegration, garbage is collected and optimum routes are selected for collection of waste. It also reduces the cost of manpower as well as fuel.
Further, many countries such as India, Japan, the U.S., and others are focusing on installing smart underground waste containers to aid the development of the market. For instance, in 2018, the Surat Municipal Corporation (SMC) installed 43 special sensor-fitted underground garbage bins in the public areas. The bins are armed with two compartments – one for the municipal workers to collect waste and the other one for general public to throw away the garbage. To confirm effective waste separation, the bins are further split into dry waste and wet waste. The capacity of the bin is 3 cubic meters and each section has a capacity to store 1.5 tonnes of garbage. These smart underground bins send signals to the representatives once 70% of the bin is occupied, which in turn, avoids garbage overflow. Furthermore, an increase in spending of individuals and government bodies toward waste collection systems is expected to garner to the growth of the market. However, high installation and maintenance costs of the containers is expected to hamper the growth of the market.
By Product Type
plastic segment is projected to grow at a significant CAGR
The novel coronavirus is rapidly spreading across various countries and regions, causing an enormous impact on the lives of people and the overall community. Starting as an emergency to human health, it now poses noteworthy intimidations to the global economy. Besides, manufacturing, packaging, and raw material supply chains are struggling on a global scale to keep pace with rapid transmission of the virus. In addition, the COVID-19 pandemic has shut-down the production of various types of underground waste containers, owing to the prolonged lockdown in major countries such as the U.S., China, Japan, India, and Germany. This has hampered the growth of the underground waste containers market significantly from past 6-7 months, which is likely to continue throughout 2020.
Further, this pandemic has already negatively influenced the sales of underground waste containers in the first half of 2020 and is expected to create a negative impact on the growth of the market throughout the year. Also, owing to lack of availability of raw materials, key players have halted the process of manufacturing underground waste containers for short term. To quicken the process, manufacturers would need to use their individual strengths to get back on track at the earliest.
By Capacity
1000-3000 lts segment holds dominant position in 2019
The global underground waste containers market is segmented on the basis of product type, capacity, application, and region. Based on product type, the market is bifurcated into metal type, plastic type and others. In 2019, the metal segment held the majority share of the market. Based on capacity, the market is divided into below 1000 lts, 1000-3000 lts, and above 3000 lts. The 1000-3000 lts segment is anticipated to exhibit the highest growth during the forecast period. Based on application, the market is divided into residential, commercial and industrial. In 2019, the commercial segment dominated the global market.
The global underground waste containers market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Application
Commercial segment holds dominant position in 2019
Competition Analysis
The key players profiled in the global underground waste containers industry report include ESE World B.V., Ecoloxia Environmental Group Inc, Meulenbroek Machinebouw B.V., Nord Engineering S.r.l., Oktagon Engineering GmbH, OGE METAL YEARLTI YERUSTU COP KONTEYNER SISTEMLERI, Reflex Zlin spol. s.r.o., SOTKON GROUP, Sutera USA, LLC, and Zweva Environment bvba.
Many competitors in the underground waste containers market adopted product launch as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in October 2019, SOTKON GROUP based in Portugal, launched Stand E2 waste container system at Waste Expo in Brazil. It has a storage capacity of 840 liter of waste. It can store liquid as well as solid waste.
By Region
Europe holds a dominant position in 2019 and Asia-Pacific is expected to grow at a highest rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global underground waste containers market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
- Extensive analysis of the market is conducted by the following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive underground waste containers market opportunity analysis of all the countries is also provided in the report.
- The global underground waste containers market forecast analysis from 2020 to 2027 is included in the report.
- The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
Global Underground Waste Containers Market Segments
By Product Type
- Metal Type
- Plastic Type
- Others
By Capacity
- Below 1000 Lts
- 1000-3000 Lts
- Above 3000 Lts
By End-user
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- ESE World B.V.,
- Ecoloxia Environmental Group Inc
- Meulenbroek Machinebouw B.V.
- Nord Engineering S.r.l.
- Oktagon Engineering GmbH
- OGE METAL YEARLTI YERUSTU COP KONTEYNER SISTEMLERI
- Reflex Zlin spol. s.r.o.
- SOTKON GROUP
- Sutera USA, LLC
- Zweva Environment bvba.
Global Underground Waste Containers Market Report Highlights
| Aspects | Details |
 By PRODUCT TYPE |
|
 By CAPACITY |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | SOTKON GROUP, REFLEX ZLIN SPOL. S.R.O., ECOLOXIA ENVIRONMENTAL GROUP INC., OKTAGON ENGINEERING GMBH., ESE WORLD B.V., NORD ENGINEERING S.R.L., MEULENBROEK MACHINEBOUW B.V., OGE METAL YEARLTI YERUSTU COP KONTEYNER SISTEMLERI., SUTERA USA, LLC, ZWEVA ENVIRONMENT BVBA. |
Analyst Review
The underground waste containers market has witnessed substantial growth over the past few years, due to rise in urban population and surge in industrialization. In 2019, the metal segment dominated the market and is expected to continue this trend in the future. Underground waste containers are manufactured using various materials such as metal, plastic, and others. Plastic is projected to witness a higher growth rate as compared to other materials, owing to its lesser cost and numerous benefits.
An increase in demand for underground waste containers from commercial construction sectors, namely, roadside entryway, shopping centers and other commercial sectors globally is expected to provide the necessary supplements for global underground waste containers market growth. Furthermore, a rise in environment related concerns further supplements the market growth. However, lack of awareness toward underground waste collection is expected to hamper the growth of the underground waste containers market. On the other hand, rise in adoption of smart underground containers globally offers lucrative opportunities to the market players. Key players operating in the underground waste containers market have adopted strategies such as product launch and product development to sustain the intense competition. For instance, in September 2018, Sutera USA, LLC offers fully in-ground FS-6, FS-4, and FS-2 underground waste containers. These containers have capacity of 4,450 liters, 2,847 liters, and 1,438 liters, respectively.
The global underground waste containers market size was $796.7 million in 2019 and is projected to reach $1,050.1 million in 2027, growing at a CAGR of 5.9% from 2020 to 2027.
The forecast period considered for the underground waste containers market is 2020 to 2027, wherein, 2019 is the base year, 2020 is the estimated year, and 2027 is the forecast year.
To get latest version of underground waste containers market report can be obtained on demand from the website.
The base year considered in the global underground waste containers market is 2019.
The report for global underground waste containers market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
On the basis of product type, the metal segment is expected to be the most influencing segment growing in the global underground waste containers market report.
Based on the application, in 2019, the commercial segment generated the highest revenue, accounting for nearly half the market share, and is projected to grow at a CAGR of 6.1% from 2020 to 2027.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
The market value of global underground waste containers market is expected to be $705.1 million in 2020.
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