The world generates approximately 2.01 Bn tonnes of municipal solid waste every year. With rising smart cities across the globe, the waste management services have also gained noteworthy implication in city planning.
The present operating standards have proven to be highly inefficient and resource-intensive, mainly because of use of manual and out-dated waste collection techniques, in addition to logistical procedures that lack operative data-driven collection solutions and waste management.
Policymakers, governments, and the waste management sector are focusing on developing and adopting smart, IoT-based solutions and techniques to address these unyielding challenges.
Majority of homeowners don’t prefer to spend more time than is required with the garbage, this generates huge opportunity for trash can manufacturers to offer modern and technologically advanced trash cans making the throwing out trash, a much bearable activity.
Market players are offering trash cans in various size, shape and design influencing consumers and directly boosting sales of trash cans. Trash cans often end up being an eye sore in one's home, which is why choosing for a more contemporary and modern design helps transform any kitchen into a trendy room. Manufacturers are also taking note of functional aspects of these modern trash cans such as proper opening mechanism, size as well as style.
Escalating demand for smart and efficient waste management is one of the notable trends stimulating the sales of trash can. Technological advancement has led manufacturers to offer smart trash can from residential as well as commercial sector.
This is projected to rise notably during the forecast period due to increase in awareness concerning convenience offered by smart trash cans.Manufacturers are focusing on touchless trash bins providing convenience and averting cross-contamination of germs.
For instance, Modernhome’s Premium Automatic Brushed Stainless Steel Trash Can features an excellent fingerprint-resistant exterior finish with matching base and appealing black lid for enhanced stability.
It can be operated utilizing C batteries in addition to plug in to several standard wall outlet and conserve battery use. Additionally, increased use of Internet of Things (IoT) and wireless connecting devices are complementing market growth.
Rising awareness concerning the needs for waste disposal and its relation with the environment’s safety remains a key contributor to the growth of the smart trash cans. This is anticipated to help market players and distributors of smart trash cans to enhance their sales and attain a sturdier position in the trash can market.
Slow and low implementation of smart solutions in emerging countries is anticipated to limit sales of trash cans. With technological advancement, market players are offering technologies and tools that can convert any trash can into a smart trash bin might restrict development of the market.
COVID-19 pandemic has put a lot of pressure on trash can manufacturers due to acute shortage of labours as well as consumers strictly following the lockdown orders amid the crisis. This along with supply chain disruption is compelling market players to rethink their business strategies.
Several small companies didn’t had a plan in place, however, the companies are quickly learning and responding on the guidance from the CDC, SBA, OSHA and Homeland Security to acclimate to the crisis.
Based on region, North America is anticipated to dominate the global market due to increasing approach for maintaining hygiene in surroundings by averting cross contamination of germs in addition to ease of operation offered in the region. Presence of leading market players in the region such as Simplehuman and iTouchless Housewares & Products, Inc. are complementing market growth.
With the rising need for efficient waste management all over nations, major market players are emphasizing on allocating their investments towards developing smart and innovative trash bins to provide convenient and effective waste management solutions.
The players are investing aggressively in research & development activities to develop innovative products and distinguish themselves from their peers to stay ahead of the competition. For instance,
Wastequip, a leading North American producer of waste handling equipment, entered into a definitive agreement with Consolidated Fabricators Corporation (ConFab), a West Coast waste container producer. The acquisition will offer the companies to gain nationwide product coverage to boost their market presence.
Brabantia launched Bo Touch Bins with an extremely functional touch-top mechanism and two removable inner buckets, creating a dual compartment setup. Joseph launched Totem trash/recycle combo bin which has two streamlined posts that holds 16 gallons of trash as well as recycling compartment.
Some of the major trash can market player include Simplehuman, Rubbermaid, iTouchless Housewares & Products, Inc., Sterilite, Hako, Richell, and Nine Stars Group (USA) Inc.
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