Worldwide Underground Waste Containers Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

The "Global Underground Waste Containers Market by Product Type, by Capacity and by End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global underground waste containers market capacity was $1,050.1 million in 2019, and is projected to reach $796.7 million in 2027, growing at a CAGR of 5.9%. An underground waste container is used for collecting the waste in the residential, commercial, and industrial areas. They can be made up of various materials such as metal, plastic, and others.

As per the World Urbanization Prospect reports, approximately 54% population belonged to urban & municipal places in 2014, which is expected to reach 66% by 2050. The global underground waste containers industry experiences development due to several factors that include growth in the industrialization, urbanization, and technology innovations. In addition, rise in environment related concerns and increase in population are expected to boost the growth of the market. Further, features such as odorless, hygiene control, eco-friendly, flexible, huge storage capacity, and others offered by these containers are estimated to lead to the growth of the underground waste containers market.

Prominent vendors are manufacturing waste container with huge volume capacity. For instance, Ecoloxia Environmental Group Inc based in Canada deals with eco-friendly underground waste containers for shopping centers, roadside entryways, play parks, gym stations, public sector buildings, and many other business premises. The underground waste containers offered by Ecoloxia Environmental Group Inc are available with capacity of 3000 liters, 5000 liters, and 6100 liters, respectively.

However, lack of awareness among developing countries is one of the major challenges faced by the global underground waste containers industry. On the contrary, technological improvements such as the use of Internet of Things (IoT) in the waste containers is expected to create lucrative opportunities for companies in the global underground waste containers market.

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 divided into metal type, plastic type, and others. In 2019, 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 underground waste containers 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).

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 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.

Market Dynamics

Drivers

• Increasing Population and Urbanization
• Growing Environment Related Concerns
• Stringent Government Regulations

Restraints

• Lack of Awareness in Developing Countries

Opportunities

• Technological Advancements

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

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201015005610/en/