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The global wheeled bins market is anticipated to create an absolute dollar opportunity over the assessment period by exhibiting a CAGR of 10.7% from 2022 to 2032. The market reached a valuation of US$ 5.2 Billion in 2022 to surpass a valuation of US$ 9.1 Billion in 2032. The growth of the market is attributed to the increasing awareness associated with the systematic way of garbage disposal is anticipated to bolster the demand for wheeled bins shortly.
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Wheeled bins are large containers equipped with wheels that are primarily used for holding trash. They are extensively utilized to collect garbage and process it for the recycling system. In addition to that, the rising prevalence of numerous chronic ailments occurring due to improper disposal of garbage is projected to fuel sales of wheeled bins across the globe. As per the Centers for Disease Control and Prevention (CDC), every year, approximately 11–21 million cases of typhoid fever occur across the globe. These numbers are estimated to surge at a fast pace, thereby propelling the maarket.
Governments in various developing countries across the globe are expected to take favorable sustainability initiatives in terms of garbage storage, collection, and recycling activities. A significant increase in funding by regulatory bodies has helped in developing efficient waste disposal and management systems across numerous countries are also estimated to push the market.
Report Highlights
The surging demand for mobile containers and effective waste-handling systems are aiding to prevent the occurrence of various chronic diseases over the assessment period. The increased usage of these bins in the pharmaceutical and food and beverage industries is another major factor expected to spur the wheeled bins market growth in the upcoming years.
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Recent Developments
Soil contamination, as well as air and water pollution, are outcomes of improper waste management. Animals that rely on the environment are also negatively affected because of waste materials. To prevent such conditions, governments are expected to join hands with private NGOs and invest huge sums to create innovative waste disposal systems. Spurred by the aforementioned factors, the global market for wheeled bins is set to grow at a fast pace.
The high cost of massive-sized wheeled bins is likely to hamper the growth of the global wheeled bins market over the assessment period. Since the majority of the people reside in underdeveloped countries so they can’t afford them. In addition to that, the lack of knowledge about proper waste disposal methods among people living in these countries may obstruct the demand for wheeled bins in the forthcoming years.
Competitive Landscape
The global wheeled bins market comprises a large number of key players. Some of the players include Euro Stampi S.R.L., Nieros International, Henkel GmbH, One Plastics Group, Remcon Plastics Inc., Craemer Holding GmbH, and SULO Verwaltung und Technik GmbH among others.
The global wheeled bins market is consolidated with the presence of a few dominant players comprising the lion’s chunk. They are partnering up with government agencies to develop cutting-edge waste disposal systems across the globe. A few other companies are increasingly focusing on expanding their portfolios by launching new products to cater to the high unmet needs of customers.
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Key Segments Profiled in the Wheeled Bins Industry Survey
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More Insights into the Wheeled Bins Market
The North American region is anticipated to dominate the global wheeled bins market. Increasing awareness about the availability of technologically advanced garbage bins across the U.S. and Canada is likely to boost the North American wheeled bins market share in the assessment period. The emergence of smart trash bins that contain wireless ultrasonic sensors is set to propel the North American market.
The Asia Pacific region is likely to remain the second largest revenue generator of the global wheeled bins followed by North America. This growth is attributable to the surging government initiatives to reduce the illegal dumping of garbage across emerging countries, such as India and China. The increasing demand for waste management solutions is also estimated to create new growth opportunities for companies based in the Asia Pacific.
Several dominant manufacturers located in this region are rapidly concentrating on developing a range of products for customers to conveniently handle their waste. Besides, they are providing marking and printing services on wheeled bins through embossing, stickers, and thermal-transfer imprinting techniques.
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The post Wheeled Bins Market to Generate Revenue of US$ 9.1 Billion in 2032 Owing to Developing Government Initiatives for Proper Waste Management appeared first on Future Market Insights.