Vacuum Waste System Market Size to exceed $1.3bn by 2026
Published Date: January 20, 2020 Authors: Kiran Pulidindi, Soumalya Chakraborty
Vacuum Waste System Market size is estimated to surpass USD 1.3 billion by 2026, according to a new research report by Global Market Insights, Inc.
Shifting trends toward sustainable and energy efficient waste collection will largely drive the vacuum waste system market over the forecast timeframe. Vacuum waste system operates through the pressure difference of air which creates vacuum for waste collection. Furthermore, these systems not only controls waste flows but also reduces the direct emission of harmful effluents to the environment, which in turn will increase their demand in the near term.
Rapid urbanization and development of smart cities will require a sustainable infrastructure to manage citizens’ needs in order to offer fundamental and more advanced services. Thus, efficient collection of waste through vacuum waste system will ensure the sustainability of smart cities in various end-use sectors such as residential, industrial, commercial, institutional, and transportation systems. However, high cost associated with setup in addition to operations & maintenance may hinder the growth of the market.
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Overground vacuum waste system will showcase a fair growth of around 7.5% over the forecast spell. The segment is largely driven by their application in the transportation sector for waste collection i.e., vacuum toilets that finds wide usage in airplanes, trains, and ships. Additionally, these systems also find wide usage as a trailer that helps in waste collection from drains and municipality sewages.
Rising mobile systems popularity in small and medium areas will drive the vacuum waste system market demand
Mobile vacuum waste system accounts a fair share of more than USD 140 million in the overall market revenue and anticipated to grow with the significant rate by 2026. These systems widely suitable for small and medium sized areas. No waste storage units or exposed bins are required which not only saves spaces for more useful purpose but also improves the recycling level at source separation. This in turn will positively drive the market revenue by 2026.
Browse key industry insights spread across 145 pages with 166 market data tables & 21 figures & charts from the report, “Vacuum Waste System Market Size by Surface Position (Underground, Overground), By Product (Stationary, Mobile), By End-use Sector (Residential, Industrial, Commercial, Institutional, Transportation Systems), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Rising popularity in commercial sectors will increase product usage
Applications of vacuum waste system in commercial sector account a considerable share of more than 15% in 2018, which is likely to grow with the substantial rate during the study timeframe. Owing to the wide usage of these systems in hospitals, nursing homes, hotels, public parking, airports, railway stations, stadiums, park, etc. For instance, in June 2019, Marimatic Oy successfully completed the installation of vacuum waste collection systems at VTB Arena Park of Moscow, Russia.
Demand in Asia Pacific and Middle East to drive growth in the market
Asia Pacific and Middle East & Africa are among the fastest growing region in the vacuum waste system market. Owing to rise in urbanizations and growing construction sector in the regions. For instance, the construction sector of Saudi Arabia nearly received an investment of USD 63.5 billion in the second quarter of 2019. Moreover, increasing product demand for waste collection from various end-use sectors such as commercial, residential, institutional, industrial, and transportation systems will impact the market positively.
Investment in technology growth is prevalent among industry players
Key manufacturers in the market include Envac AB, Logiwaste AB, Marimatic Oy, Wartsila, MEIKO International, Collins Aerospace, and Jets Vacuum AS. These companies compete on the basis of innovation, product differentiation and aftersales services. Other important players in the industry includes EVAC Oy, Aqseptence Group GmbH, EVAC GmbH, Nederman Holding AB, Stream Environment SDN. BHD, ECOSIR Group, Lundberg Tech A/S, etc.
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