Rising development of smart sustainable infrastructure for waste management services along with growing awareness about UN sustainable development goals would drive global vacuum waste systems market growth over the forthcoming years.
Lately, underground vacuum waste systems have gained increased traction and recognition. Underground systems dominate the industry, accounting for over 50% of the vacuum waste systems market revenue share, which is further likely to grow at a significant rate by 2026. These systems are not only used across underground space but also find application on the surface. This feature enables the system's utilization for recreation of residential areas and new green fields.
Underground vacuum waste systems also help in preserving sensitive areas like historical city centers as well as archaeological sites. They are anticipated to find wide range of applications in the commercial and residential sectors over the projected period.
With respect to the product spectrum, the vacuum waste systems market is segmented into stationary vacuum and mobile vacuum systems. The stationary vacuum segment is expected to showcase a growth rate of more than 8% over the estimated time period. This is due to the systems' wide usage in several end-use sectors. They not only minimize pollution and noise and odor problems, but are also appropriate for collecting waste from all streams.
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Stationary systems further eliminate the need for waste collection through trucks in urban areas and improve the safety of collection workers. The capability to adapt to changes will drive the demand for stationary vacuum waste systems in the near future.
In terms of the application landscape, the vacuum waste system market is bifurcated into industrial, residential, commercial, institutional and transportation sectors. Vacuum waste systems market size from transportation systems like toilets registered a revenue share of around 25% back in 2018.
This growth can be credited to the wide usage of these systems in ships, trains and airplanes for waste collection. The growing demand from buses and metros may further boost the demand for vacuum waste systems in the transportation sector.
On the geographical front, North America vacuum waste systems market represented over $60 million worth of revenue share in 2018. These figures are anticipated to grow at a decent rate during the projected timeframe. Rapid growth in the region's industrial and transportation sector has augmented vacuum waste systems market share.
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Installation of these systems in different commercial places like Quartier des Spectacles of Montreal, Hudson Yards of Manhattan and new city center of Carmel will boost North America market growth.
The years to come will present numerous growth opportunities for global vacuum waste systems market players. Competitive landscape of this market is driven by companies like Wartsila Oyj Abp, Envac AB and Marimatic Oy, among others.
These firms are exploring numerous business expansion opportunities in the form of strategies including acquisitions, cost optimization, geographical expansion, product differentiation as well as technological advancements.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Methodology
- 1.2. Market definition
- 1.3. Market estimation & forecast parameters
- 1.4. Data sources
- 1.4.1. Primary
- 1.4.2. Secondary
- 184.108.40.206. Paid sources
- 220.127.116.11. Public sources