Underground vacuum systems to hold a nearly 50% share of vacuum waste systems market with, in terms of total revenue, and is projected to grow at a substantial rate by 2026. This growth is due to the fact that these systems not only use the underground space but also makes space on the surface, that can be utilized for restoration of green fields as well as residential areas.
North America registered a share of more than $60 million of the total vacuum waste systems market revenue in 2018 and is likely to grow further. The growth in the region is expected to come from the proliferation of both industrial and transportation sectors, which is subsequently impelling vacuum waste systems demand.
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The vacuum waste systems market size is set to exceed $1.3 billion by 2026.
The stationary vacuum waste segment in vacuum waste systems market is likely to show a growth rate of more than 8% during the projected time period, due to their wide use in several end-use areas. Apart from reducing pollution, noise and odor problems, the stationary vacuum systems are also suitable for storing waste from all streams.
The global vacuum waste systems market is expected to leverage the increasing awareness around the UN sustainable development goals, development of smart renewable infrastructure for waste management services to chalk out a highly remunerative growth graph over the forthcoming years.
Likewise, it also helps safeguard sensitive areas like historical city centers and archaeological sites. The underground system will find varied applications in both commercial and residential sector during the projected time period.
With respect to product, the stationary systems are widely used in transportation system, and mobile systems are used in both industrial and residential sector.
Additionally, it also eliminates the usage of waste collection from trucks in municipal areas while also improving the safety of collection workers. Their capability to adopt to changes will also increase the demand in the future.
In addition, the growing demand from buses and metros is likely to further increase their share in the upcoming years.
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While the vacuum waste systems market is witnessing an influx of revenue from the overground vacuum waste systems, which are most prevalent in use, the underground systems are also being accepted at a faster pace, creating favorable growth opportunities in the process.
Usage of vacuum systems in transportation sector like toilets held a share of more than 25% in 2018 and is likely to grow during the projected timeframe. The growth is due to wide usage in trains, airplanes and ship for collection of waste.
Notable manufacturers operating in the vacuum waste systems market are Wärtsilä Oyj Abp, Envac AB and Marimatic Oy among others.
The market players are also focusing on strategies such as geographical expansion, technology advancement, product differentiation, cost optimization and strategic acquisitions in the long run.
Consequently, several installations of these systems in commercial places like new Carmel City Center, Quartier des Spectacles of Montreal and Hudson Yards of Manhattan will fuel the market of vacuum waste in the region.
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