NAICS 5621 - Waste Collection
This industry comprises establishments primarily engaged in (1) collecting and/or hauling hazardous waste, nonhazardous waste, and/or recyclable materials within a local area and/or (2) operating hazardous or nonhazardous waste transfer stations. Hazardous waste collection establishments may be responsible for the identification, treatment, packaging, and labeling of waste for the purposes of transport.
Industry trends:
The waste collection industry (NAICS 5621) is experiencing significant transformations driven by technological advancements, regulatory changes, and evolving consumer preferences. One major trend is the increasing adoption of digital technologies and smart solutions, such as IoT-enabled sensors and GPS tracking, which are improving operational efficiencies and optimizing collection routes. Companies are leveraging data analytics for better decision-making and enhanced customer service.
Environmental sustainability is another driving force in the industry. There is a growing emphasis on waste diversion and recycling initiatives, motivated by stricter regulations and increased environmental consciousness among consumers. Businesses are investing in advanced sorting technologies and expanding partnerships with recycling facilities to boost recycling rates and lower landfill dependency.
Public-private partnerships are also becoming more common as municipalities look to enhance waste management services through collaboration with private entities. This trend is fostering investment in infrastructure and innovation, leading to better service delivery.
In the near future, the industry is anticipated to continue its shift towards more sustainable practices. Regulatory pressures are expected to increase, necessitating investments in cleaner technologies and circular economy models. Additionally, workforce challenges, such as addressing labor shortages, may prompt further automation and employee training programs. Together, these trends indicate a promising yet challenging landscape for waste collection businesses aiming for technological integration and sustainability.
This industry is comprised of:
Explore related industries:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.