June 02, 2020
As per the report titled ‘Vacuum Waste Systems Market Size By Surface Position, By End-use Sector, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2026’, available with Market Study Report LLC, global vacuum waste systems market is expected to grow considerably during 2019-2026.
Ongoing development of smart & sustainable infrastructure for waste management and rising awareness regarding Sustainable Development Goals put forward by the UN are fueling the growth of global vacuum waste systems market.
Based on the surface position, underground segment has been experiencing a strong demand, accounting for over 50% revenue share for the past years, and is likely to exhibit a strong growth rate throughout the forecast duration. The growth can be credited to the system’s utilization for underground space as well as on the surface, making it suitable for recreation of new green fields and residential areas. Underground vacuum waste systems enable preservation of sensitive areas like archaeological sites and historical city centers.
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Elaborating on the product spectrum, stationary vacuum waste systems segment is predicted to expand with a CAGR of 8% through 2026. Extensive product usage across various end-use industries, along with benefits such as reduced pollution, minimal noise and odor issues, and ability of collecting waste from different streams are driving the demand for stationary vacuum systems. These systems eliminate the need for waste collection through trucks in urban areas and improve safety of collection workers, further encouraging the product adoption.
Speaking of the end-use spectrum, transportation sector amassed a revenue share of about 25% in 2018 and is expected to gain decent traction in the upcoming years. Widespread use of vacuum waste systems in ships, trains, and airplanes for waste collection, coupled with rising demand from buses and metros are stimulating the segment size.
From a regional perspective, North America vacuum waste systems market accrued USD 60 million in 2018 and is expected to see significant gains over the projected timeframe. Rapid expansion of the industrial and transportation sectors is fueling the regional market growth. Moreover, deployment of vacuum waste systems in several commercial places like Hudson Yards of Manhattan, Quartier des Spectacles of Montreal, and new City Center of Carmel is expected to boost the industry growth in North America.
The competitive landscape of global vacuum waste systems market is defined by companies like MariMatic Oy, Logiwaste AB, Wärtsilä Oyj Abp, Stream Environment SDN. BHD., Envac AB, MEIKO International, Collins Aerospace, EVAC Oy, Aqseptence Group GmbH, and Jets Vacuum AS among others.