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Opportunity Assessment of Waste Management in US Cities Growing at a CAGR 10.4% | Key Player Bigbelly, Compology, OnePlus Systems, Ecube Labs, Republic Services

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Opportunity Assessment of Waste Management in US Cities Growing at a CAGR 10.4% | Key Player Bigbelly, Compology, OnePlus Systems, Ecube Labs, Republic Services

November 04
07:06 2020
Opportunity Assessment of Waste Management in US Cities Growing at a CAGR 10.4% | Key Player Bigbelly, Compology, OnePlus Systems, Ecube Labs, Republic Services

Bigbelly, Inc. (US), Compology (US), OnePlus Systems (US), Ecube Labs (South Korea), Waste Management Inc. (US), Republic Services Inc. (US), Covanta Holding Corporation (US), Recology (US), Athens Services (US), and Bin-e (Poland)
Opportunity Assessment of Waste Management in US Cities – by Waste Management Outlook (Budget, Programs, Volume, and Disposal Statistics), Key Initiatives, and Cities (Boston, Los Angeles, Philadelphia, Seattle, and San Diego) – Forecast to 2023

The Waste Management Investments in US Cities are expected to grow from USD 1.0 billion in 2018 to USD 1.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period (2018–2023). Seattle, a major city in the US, has increased its overall recycling rate for 13 consecutive years (2003–2016). In 2016, Seattle recycled 58.8% of its municipal solid waste with an annual increase of 0.8%. Seattle aims to achieve overall 70% recycling rate by 2022. Key factors driving the waste management assessment in major US cities include a growing focus on the collection of waste materials and transportation to recycling facilities, sorting material type and then selling them to manufacturers to make new products, state governments’ increasing focus on waste recycling and energy generation, and growing adoption of smart waste management systems.

Increasing focus on waste recycling to create significant growth opportunities for vendors in the US

Population explosion and improved lifestyle result in the increased generation of solid wastes in urban as well as rural areas. In US cities, there is a marked distinction between the solid waste from urban and rural areas. However, due to increased urbanization, fast adoption of ‘use & throw concept’ and equally fast communication, the gap between urban and rural is diminishing. The solid waste from rural areas is more of a biodegradable nature and the same from urban areas contains more non-biodegradable components, such as plastics and packaging. Recycling organic materials, including food and compostable paper, is the biggest opportunity to reduce trash and focus on recycling initiatives. Organics make up about one-quarter of overall trash, and not many people are participating in organic recycling programs yet. The increasing focus on vendors toward organic waste in the region could provide growth opportunities for the market vendors.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=22015684

Los Angeles to provide opportunities for vendors of smart waste management solutions

Los Angeles has adopted Smart Waste Management (SWM) solutions and is looking forward to expanding the SWM program to other vendors apart from Bigbelly. LA Sanitation (LASAN) handles waste management activities for single-family and multi-family (less than 4 units) establishments. Franchises (haulers) handle waste management activities for multi-family (with 4 or more units) and commercial establishments. Athens Services, Republic Services, Waste Management Inc., Universal Waste Systems, NASA Services, Ware Disposal Company, and CalMet Services are responsible for waste collection, transfer, recycling, processing and disposal for multi-family and commercial establishments till 2024. However, changes in the Chinese import policy have led to increased waste processing costs and higher volumes of waste being disposed in landfills. Other waste management challenges include hygiene-related issues, due to illegal dumping, increasing complaints about waste pick-up services, and unrest around higher service fees charged by haulers.

Major vendors offering waste management systems in the US include Bigbelly, Inc. (US), Compology (US), OnePlus Systems (US), Ecube Labs (South Korea), Waste Management Inc. (US), Republic Services Inc. (US), Covanta Holding Corporation (US), Recology (US), Athens Services (US), and Bin-e (Poland). The study includes an in-depth competitive analysis of the key players in the waste management market in key US cities, along with their projects and investments, recent developments, and key market strategies. The market players have embraced different strategies to bring innovative solutions to the expand their global presence and increase their market shares. The vendors have focused on IoT-based sensors to deploy innovative waste recycling and energy generation systems.

Bigbelly is a major player in the waste management market and a global leader in providing smart city solutions specifically in smart waste & recycling solutions. The company has captured 112,119,235 gallons of waste in the last 12 months, solutions deployed across 54 countries, and has 15,623,694 IoT connections. Bigbelly implemented solar-powered trash cans for Honolulu-based real estate company Alexander & Baldwin to increase the overall efficiency and reduce cost. In 2018, Bigbelly was a part of multiple municipalities success in achieving public space recycling diversion goals, including Dubai Municipality (UAE), City of Sana Clarita and Santa Clarita Transit, CA (US), City of Burlington, VT (US), Slough Borough Council (UK), London Borough of Islington (UK), and City of San Diego, CA (US).

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Compology is one of the largest solution providers to the waste management industry. The company offers a robust portfolio of waste management and IoT products and solutions. Compology solutions bring efficiency to waste and recycling services through accurate and timely dumpster data collection. The web-based monitoring software and hardware services help haulers, generators and municipalities thrive. It provides image-based trash can sensors to monitor fullness and contents and has GPS tracking feature to help optimize driver routes and fuel efficiency. In April 2018, Environmental Solutions Group (ESG) partnered with Compology to provide customers with image-based sensors and simplified software solutions for effective waste management.

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