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According to a recent report published by Astute Analytica, titled, “Global Waste Management Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027,” the global waste management market registering a growth at a CAGR of 5.5% from 2020 to 2027. In 2019, Asia-Pacific region dominated the global market, in terms of revenue, the region accounted for more than 55% of the global market share followed by Europe and South America.
Rising challenges to efficiently manage waste disposal are increasing the demand of waste management services and boosting the market growth over the forecast period. Increasing purchasing power of consumers coupled with growth in urbanisation which increases the frequency of disposing usable products and in turn increasing the amount of wastage at individual level. Increasing amount of waste generation majorly contribute in pollution and increasing awareness related to clean environment at individual and regional levels are playing a role of macro factor in growth of the global waste management market.
At industrial level, increasing amount of hazardous wastes from different sectors such as healthcare, pharmaceutical and manufacturing is anticipated to boost the overall market growth over the forecast period.
Unplanned waste dumping is highly responsible for increasing air, water and soil pollution over the last few years. Environmental awareness has significantly fuelled the demand for waste management in developed countries and is incorporating rapidly in developing countries. Waste management systems offer treatment solutions in different manner for category of organic and non-organic wastes. Under efficient waste management, nuclear wastes, liquid and plastic metal wastes, e-wastes and dispose solid along with other hazardous wastes are specially treated to decompose with various safety procedures. For example, electronic goods are segregated for reuse purposes, which include various electric and electronic equipment such as mercury, cobalt, chromium, cadmium, selenium, arsenic and lead; and medical waste are treated through thermal processes to kill pathogens by using high temperature.
COVID-19 impacted the waste management industry from the focus of segment shift; as during lockdown, the residential segment generated more amount of waste as compared to industrial and commercial centres, as industries and offices were partially or completely shut. However, reviving economies and resuming production activities along with start of vaccination drives in numerous countries will increase the amount of waste generation and lead to re-initiation of waste recycle industry and waste management companies at their full-scale capacity.
The global waste management market is segmented on the basis of waste type, waste handling method, material and region. On the basis of waste type, the market is divided into hazardous waste, industrial waste and municipal waste. On the basis of services, the market is classified into collection services and disposable services. The collection services segment is sub segmented into sorting, collection & transportation and storage & handling. The disposable services segment is further segregated into compositing & anaerobic digestion, incineration, landfills. recycling and others. The material category is segmented into paper & paperboard, plastics, metals, glass, food and others.
Region wise, the waste management market analysis is conducted across North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Key Findings of the Study
Key Players Insights
The major players profiled in the report include Waste Management Inc., Veolia Environnement, Suez, Republic Services, Inc., Remondis Se & Co. Kg, Hitachi Zosen Corporation, Daiseki Co., Ltd., Covanta Holding Corporation, Clean Harbors, Inc. and Biffa Plc. Companies are adopting various competitive strategies to acquire majority of the market share in the global marketplace.
The global waste management market is segmented on the basis of Waste type, Waste Handling Method, and Material. These major market segments are further categorized to study the market in detail.
By Waste Type:
By Waste Handling Method:
Research Report on the Global Waste Management Market Include: