According to a report available on Radiant Insights, Inc.; the underground waste containers market is expected to expand steadily by 2025.
Factors such as rapid urbanization, growing population, and increasing environmental concerns due to rapid industrialization can propel the market over the forecast period (2014 to 2025). Rise in waste material due to raid industrialization is expected to boost the product demand in industries across the world.
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The most important benefit of these containers includes aesthetic appearance, space efficiency, tidiness, odorless, and long emptying intervals. They used to collect temporary waste material. People can see a chimney at ground level, which is intended to throw garbage. These aforementioned advantages are likely to increase the preference for the product over traditional waste containers. Also, these containers require less pickups due to their increased capacity. This is considered as the major driving factor for the market. Increasing need to control the municipal waste is also expected to drive the market in the coming years. Municipal waste can be generated from private households and alike sources such as clinics, offices, schools, local administration buildings, and, small businesses and industry. The municipal waste may include bulky waste items, road sweepings, market waste, sewage sludge, organic waste, and separately collected recyclable materials such as glass or paper.
Moreover, strict government rules regarding convenient and safe disposal of medical waste across the world is expected to increase the demand for medical waste generators. Rise in number of patients suffering from chronic diseases is a key factor driving demand for collection of medical waste from large and small medical waste containers across the world. Growing awareness regarding the safe disposable of medical waste, improving healthcare facility around the world, and rise in medical waste is expected to increase demand for these containers over the forecast period.
Worldwide underground waste containers market can be segmented on the basis of product, application, and region.
Based on product, the market can be classified into metal type, plastic type, and other. As per application, the market can be bifurcated into resident community, municipal, and other.
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Geographically, the underground waste containers market can be divided into North America, China, Europe, Southeast Asia, Japan, and India.
Southeast Asia and other Asian countries such as India and China are expected to show high growth due to rapid industrialization and shifting of industries from developed regions towards these countries, which is expected to lead high amounts of generated industrial waste. These countries are expected to established better waste management and recycling approaches as these significant amount of waste needs effective disposal and processing due to rising concerns regarding environmental hazards.
North America and Europe are considered as the most attractive markets. Europe is expected to show significant growth on account of presence of strict regulatory policies regarding waste in several municipalities in this region.
Prominent companies operating in the underground waste containers market include Total Waste Systems (TWS), Deep Waste Collection, Coastal Waste Services, Advanced Fluid Containment, and EMS Makina Sistemleri. For instance, Eco Signal d.o.o., a provider of underground and over ground waste management systems has recently developed an Eco Hydraulic underground container. It is suitable for high populated areas. This plastic container can be moved manually from its platform to truck with truck’s existing hydraulic pump. The system locks and unlocks automatically from the truck’s hydraulic pump. This avoids unauthorized users to open and collect material in the container.
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