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The global waste management market size reached USD 2,158.54 Billion in 2020, and is expected to register a CAGR of 5.2% during the forecast period. Market revenue growth is primarily driven by rising concerns regarding waste management in countries across the world, rapid urbanization, industrialization, increasing population growth, and economic development, which are key factors resulted in increasing volumes of waste being generated. According to ‘What a Waste 2.0’ report, the world generates 2.91 billion tons of municipal solid waste annually, with at least 33% of that managed in an environmentally safe manner. Rising need to reduce rapidly increasing amounts of waste generated annually is boosting demand for waste management solutions. Developing countries are facing significant environmental challenges associated with waste generation and inadequate waste collection, transport, treatment, and disposal issues. Poor management of waste is contaminating oceans, transmitting diseases, clogging drains, causing flooding, increasing prevalence of respiratory problems from burning garbage and waste that emit toxic and harmful fumes and smoke, and also harming animals which consume waste materials unknowingly. Environmental degradation caused by greenhouses gasses generated from waste increases the need for waste management solutions. In 2016, around 5% of global emissions were generated from solid waste management, excluding transportation.
Rising need to achieve sustainable development goals is resulting in the use of effective and proper waste management solutions. Rising need to develop waste-to-energy facilities owing to increasing demand for energy generation is expected to boost demand for more efficient waste management solutions. The potential for energy generation from landfills via methane extraction or thermal treatment is projected to create lucrative opportunities in the future. Increasing initiatives by governments across various countries regrading the improvement of waste management facilities, which will help cities become more resilient to extreme climate occurrences, is expected to support to growth of the waste management market.
Stringent regulations by government regarding waste disposal and illegal dumping is driving demand for waste management solutions across industrial sectors to reduce volumes of hazardous waste generated by them. In countries such as India, the Ministry of Environment, Forest and Climate Change (MoEF) issues MSW (Management and Handling) Rules 2000 to ensure proper waste management in the country. Municipalities in the country are responsible for implementing these rules and developing infrastructure collection, storage, segregation, transportation, processing, and disposal of municipal waste. Limited availability of landfill sites in overpopulated countries is boosting rapid need for more effective waste management facilities. Increasing investment by major players on technological advancements in waste collection and disposal services and utilization of innovative technologies to recycle and reuse waste generated is expected to drive growth of the waste management market to a significant extent in the near future. Ability of advanced waste management facilities to safely dispose liquid and plastic metal wastes, e-waste, and nuclear wastes from different industries is driving its demand among healthcare, pharmaceuticals, and manufacturing industries. Rising costs associated with recycling is expected to hamper demand for waste management solutions to a certain extent. Moreover, limited availability of infrastructure related to proper waste collection and rising landfill prices are other key factors hindering growth of the waste management market.
Waste management includes all types of waste such as industrial, biological, household, organic, biomedical, radioactive, and municipal wastes. Waste management has been linked with the evolution of communities, population growth, and economic growth. Types of waste management include recycling, incineration, landfill, and biological reprocessing. Reuse and recycling are crucial aspects of improved resource management by enabling prevention of waste and reuse, recycling, and recovery of wastes that occur to meet sustainable development goals by minimizing dependence on natural resources. Waste management is one of the most crucial responsibilities of governments and local jurisdictions to reduce health risks and pollution and rapid adoption of these strategies is expected to fuel market growth.
Waste management enables protection of public health by reducing exposure to chemical and microbial agents, reduce adverse effects of waste on environment, and accelerate development of sustainable and livable cities and these key factors are expected to boost adoption of waste management strategies across the globe and drive market revenue growth over the forecast period. Over the recent past, various waste management initiatives have been undertaken for improving well-being of humans and livability of cities. Advancements in waste management technologies and development of new policies such as integrated waste management that optimize many existing waste management practices and open up new avenues for waste management are some key factors expected to drive market revenue growth over the forecast period. Integrated waste management is an emerging field of waste management and has numerous benefits such as it reduces waste at the source, lowers costs for businesses and residents, and reduces pollution generated during transportation of waste. Integrated plastic waste management is a strategic approach to sustainable management of solid wastes and is significantly beneficial as compared to traditional approaches. In addition, growing need for robust waste management framework to improve quality of air and water, reduce greenhouse gas emissions, and reduce energy consumption associated with manufacturing of new materials are some other factors expected to boost adoption of waste management strategies and drive market growth going ahead.
Sustainable waste management practices have become challenges due to rapidly changing socioeconomic conditions and consumption behavior. Lack of recycling infrastructure, shortage of trained workforce, mismanagement of solid wastes, and improper functioning of waste management agencies are some factors that can hamper revenue growth of the market going ahead. Rising environmental challenges due to inadequate collection, transport, treatment, and disposal, particularly in developing and underdeveloped countries are some other factor s that can create barriers and challenges for waste management and potentially restrain market growth to a significant extent going ahead.
On the basis of type, the waste management market is segmented into industrial waste, municipal waste, hazardous waste, and bio-medical waste. Industrial waste segment accounted for largest revenue share in the waste management market in 2020. Industrial waste segment revenue growth rate is projected to incline rapidly during the forecast period. Rapid industrialization in developing countries has resulted in an increasing amount of waste generated from oil & gas, chemicals, medical, and automobile industries. Rising volumes of hazardous chemical wastes generated by healthcare, pharmaceuticals, and manufacturing industries is driving urgent need for rapid deployment of advanced waste management facilities among industries to minimize environmental degradation and adverse effects on human health. Ability of waste management systems in safely disposing e-wastes, solid, nuclear wastes, and liquid and plastic metal wastes generated by various industries is boosting its demand. Industries are increasingly adopting waste management facilities to minimize costs and increase profitability. Moreover, stringent government regulations regarding industrial waste disposal is a key factor driving demand for waste management solutions among industries. At the Federal level, the Environmental Protection Agency (EPA), regulates all manner of hazardous and non-hazardous waste, providing guidelines for compliance and enforcing heavy fines for violations. Food industries are increasingly investing on biological treatment of food waste and waste generated from food industries.
On the basis of service, the waste management market is segmented into collection service and disposable service. Disposable service segment revenue growth rate is projected to incline rapidly during the forecast period. Disposable service segment accounted for largest revenue share in the waste management market in 2020. Disposable service includes landfills, recycling, and composting & anaerobic digestion. Increasing initiatives by governments related to safe disposal of industrial and municipal waste is driving demand for disposal services. Developing countries dispose almost 80%–90% of municipal waste in landfills without proper management practices, and open burning is leading to water, air, and soil pollution, as well as having adverse effects on human health. Limited availability of landfill sites in overpopulated countries and rising initiatives to reduce landfilling is resulting in increasing landfill prices, which is boosting the need for effective waste recycling. Moreover, governments of various countries are introducing landfill taxes to promote reuse and recycling of waste materials. Rising need to reduce the volume of waste and prevent over exploitation of natural resources are driving rapid need for recycling waste. In addition, utilization of anaerobic digestion in waste management solutions for generation of biogas which can be used as a source of energy has been increasing significantly in the recent past. In developing countries such as India, most waste produced is organic, which increases the need for composting and biological decomposition of such waste.
Among the regional markets, Asia Pacific accounted for largest revenue share contribution to the global waste management market in 2020. Revenue from the waste management market in Asia Pacific is expected to expand at a rapid rate during the forecast period. Rapid urbanization, industrialization, population growth, and economic development have resulted in an increasing amount of waste generation, which is driving the need for deployment of an increasing number of waste management facilities in countries in the region. Increasing initiatives by governments regarding development of more effective and proper waste management solutions is boosting growth of the waste management market in the region.
North America is expected to account for a significantly large revenue share during the forecast period. Presence of developed infrastructure with regard to proper waste collection in countries in the region is expected to continue to drive growth of the North America waste management market over the forecast period. Stringent regulations by governments regarding waste disposal and illegal and anti-dumping policies is another key factor boosting utilization of waste management solutions among industries in the region. Governments in countries in the region are undertaking initiatives to promote different recycling activities in order to minimize environmental degradation.
The global waste management market is consolidated with a limited number of players accounting for majority market revenue. Companies are focusing on strategic expansions into untapped markets and on research and development initiatives to develop new and enhanced waste management systems in order to secure and maintain a robust position in the rapidly growing market. Some prominent players operating in the waste management market are:
In June 2020, The Massachusetts Biotechnology Council (MassBio) announced an expanded partnership with Veolia North America for its rewards and savings program, MassBio Edge. Veolia would serve as the preferred partner for all streams of waste management.
|The market size value in 2020||USD 2158.54 Billion|
|The Revenue forecast in 2028||USD 3225.72 Billion|
|Base year for estimation||2020|
|Quantitative units||Revenue in Billion, revenue share (%) and CAGR (%)|
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, service, Region
North America; Europe; Asia Pacific; Central & South America; MEA
U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey
|Key companies profiled||
Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, REMONDIS SE & Co. KG, Suez Environment S.A., Veolia Environnement S.A., Waste Management, Inc., and Republic Services, Inc
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This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each segment from 2018 to 2028.
For the purpose of this report, Emergen Research has segmented the global waste management market on the basis of type, service, and region:
The global waste management market revenue is projected to expand at a CAGR of 5.2% during the forecast period.
The global waste management market was valued at USD 2158.54 Billion in 2020.
The rising concerns regarding waste management across the world and stringent regulations of government regarding waste disposal and illegal dumping are factors driving adoption of waste management.
Asia pacific accounted for largest revenue share in the waste management market in 2020.
Limited availability of infrastructure related to proper waste collection and rising landfill prices are some restraints to waste management market growth.
Disposable Service segment was the leading segment in the waste management market in terms of service in 2020.
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