The global waste management market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the concerns about waste management across the globe.
Waste management refers to the procedures and actions that are essential to manage trash from its conception to its final disposal. Organic and non-organic wastes may both be treated with waste management systems. Furthermore, these systems can properly dispose of liquid and plastic metal wastes, solid trash, e-waste, as well as radioactive waste, released from a variety of sources. Waste management systems allow the specific treatment that targets particular type of waste particles or stream from various sectors. For instance, thermal techniques are used to remediate pharmaceutical waste. Garbage management focuses on either removing waste or repurposing it in the most effective way possible. Furthermore, electronic items are efficiently recycled for reuse using waste management systems. Increasing consumer purchasing power is a key factor that push the demand for newer things from consumers, which has resulted in the rising need for effective waste management system to ensure maximum use of resources.
The COVID-19 pandemic had affected the waste management market due to the shutdown of factories and offices during the emergency lockdown. As a result, the volume of garbage from residential areas were far higher than the industrial and commercial sectors. With the gradual recovery of the global economy, resuming manufacturing activities, as well as the launch of vaccination campaigns across nations, the demand for re-starting of waste recycling and waste management businesses is likely to increase rapidly.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing issues associated with non-discarded wastes from various industries are expected to fuel the market during the forecast period.
- Rising population has resulted in increasing number of households and these households subsequently produce a lot of garbage in the residential areas. This is a key factor that drives the market.
- Increasing number of hazardous wastes released by industries from various sectors such as pharmaceutical, healthcare, as well as manufacturing, is likely to boost the market.
- Rising recycling costs, landfill fees, and rising fuel prices are major hurdles that can hamper the market growth during the forecast period.
- For building and construction activities; waste management system is widely implemented to reduce and allow reuse of materials such as metal, concrete, soil, wood, glass, cardboard, and plastic. This presents a key factor creating lucrative opportunities for the market growth.
Scope of the Report
The report on the global waste management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Waste Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Hazardous Waste, E-waste, Plastic Waste, Bio-medical Waste, Industrial Waste, and Municipal Solid Waste) and Disposal Methods (Incineration, Recycling, and Landfills)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Desco Electronic Recyclers; Mine Restoration Investments Ltd.; Republic Services Inc.; Casella Waste Systems Inc.; Waste Connections Inc.; Suez SA; Veolia Environnement SA; Electronic recyclers international Inc.; Sims Recycling Solutions Inc.; E-waste Harvesters Inc.; and E-waste Systems Inc.
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Market Segment Insights
Industrial waste segment to expand at a considerable CAGR
On the basis of type, the waste management market is segmented into hazardous waste, e-waste, plastic waste, bio-medical waste, industrial waste, and municipal solid waste. The industrial waste segment is projected to expand at a considerable CAGR during the forecast period due to the rise in the quantity of garbage and waste substances produced by various industries. On the other hand, the e-waste segment is anticipated to account for a major market share during the forecast period as these waste contain environmental hazards such as arsenic, lead, selenium, chromium, cadmium, cobalt, and mercury.
Recycling segment to hold significant share of the market
In terms of disposal methods, the market is divided into incineration, recycling, and landfills. The recycling segment is expected to hold significant share of the market ascribed to rising demand for converting garbage into useable materials. However, the incineration segment accounts for a large market share in the coming years owing to lowering the toxicity and amount of hazardous chemical and biological waste.
North America is anticipated to constitute a key market share
In terms of regions, the waste management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to improved retreatment of waste infrastructure in the region. Moreover, increasing number of government initiatives and legislation requiring waste treatment in numerous industries present another key factor for the regional market expansion. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to rising public awareness and government goals for more effective garbage disposal.
Segments
The global waste management market has been segmented on the basis of
Type
- Hazardous Waste
- E-waste
- Plastic Waste
- Bio-medical Waste
- Industrial Waste
- Municipal Solid Waste
Disposal Methods
- Incineration
- Recycling
- Landfills
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Desco Electronic Recyclers
- Mine Restoration Investments Ltd.
- Republic Services Inc.
- Casella Waste Systems Inc.
- Waste Connections Inc.
- Suez SA
- Veolia Environnement SA
- Electronic recyclers international Inc.
- Sims Recycling Solutions Inc.
- E-waste Harvesters Inc.
- E-waste Systems Inc.
Competitive Landscape
Key players competing in the global waste management market are Desco Electronic Recyclers; Mine Restoration Investments Ltd.; Republic Services Inc.; Casella Waste Systems Inc.; Waste Connections Inc.; Suez SA; Veolia Environnement SA; Electronic recyclers international Inc.; Sims Recycling Solutions Inc.; E-waste Harvesters Inc.; and E-waste Systems Inc.
Several of these players had been recognized and awarded for their effective efforts in waste management services across the globe. Veolia Environnement SA was awarded a USD 505 million contract to manage a wood chip power plant in Ireland in June 2015 while Sims Solutions' US operations were awarded the R2:2013 certification in March 2015. In May 2015, Casella Waste Systems Inc. formed a recycling relationship with Hypertherm Inc., a Hanover-based industrial cutting equipment manufacturer. The former company could access to involve in management of activities such as gather, store, bundle, and recycle goods in one of Hypertherm's underutilized warehouses on Etna Road in Lebanon. Cassella Solutions has also employed a crew at Hypertherm to collect pre-sorted materials from containers located around the company's 11 facilities.
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