NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
waste management market size is estimated to grow by USD 223.8 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
8.8% during the forecast period. Laws in Europe for recycling waste is driving
market growth, with a trend towards increasing demand for
renewable cleaning. However, huge capital investment to
discard biomedical waste poses a challenge. Key market
players include Bertin Technologies SAS, Biffa Plc, Clean Harbors
Inc., Covanta Holding Corp., Daiseki Co. Ltd., FCC SA, GEPIL,
Hasiru Dala Innovations Pvt. Ltd., HFCL Ltd., Hitachi Zosen Corp.,
Republic Services Inc., RETHMANN SE and Co. KG, SAAHAS WASTE
MANAGEMENT Pvt. Ltd., Stericycle Inc., SUEZ SA, URBASER SA, Valicor
Inc., Veolia Environnement SA, Waste Connections Inc., and Waste
Management Inc..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the snapshot
of this report
Waste Management
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.8%
|
Market growth
2024-2028
|
USD 223.8
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.48
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 33%
|
Key
countries
|
China, US, Germany,
Japan, and UK
|
Key companies
profiled
|
Bertin Technologies
SAS, Biffa Plc, Clean Harbors Inc., Covanta Holding Corp., Daiseki
Co. Ltd., FCC SA, GEPIL, Hasiru Dala Innovations Pvt. Ltd., HFCL
Ltd., Hitachi Zosen Corp., Republic Services Inc., RETHMANN SE and
Co. KG, SAAHAS WASTE MANAGEMENT Pvt. Ltd., Stericycle Inc., SUEZ
SA, URBASER SA, Valicor Inc., Veolia Environnement SA, Waste
Connections Inc., and Waste Management Inc.
|
Market Driver
The waste management market is experiencing significant growth
due to the increasing adoption of renewable or green cleaning
processes in industries. These eco-friendly methods, such as
activated water cleaning, high-flow fluid extraction, and steam
vapor technology, offer numerous benefits. They enhance indoor
health and safety, decrease storage, purchase, and disposal costs,
and simplify cleaning operations. As industries prioritize cost
reduction and worker health, the demand for green cleaning is
anticipated to drive market expansion.
The waste management market is experiencing significant growth
due to increasing environmental concerns and regulations. The use
of circular economy principles is trending, with companies focusing
on reducing waste and promoting recycling. Composting and urban
waste management are key areas of focus. The use of technology,
such as smart bins and waste sorting systems, is also on the rise.
The demand for sustainable and eco-friendly solutions is driving
innovation in the industry. Additionally, the implementation of
government policies and initiatives is creating opportunities for
businesses in this sector. Overall, the waste management market is
expected to continue growing as more organizations prioritize
sustainability and compliance with regulations.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The biomedical waste market faces significant challenges due to
the high cost of managing hazardous healthcare waste. This includes
the need for specialized facilities, skilled workforce, and high
capital investment for incineration. Despite the benefits of
incineration, such as complete waste removal and microorganism
destruction, its disadvantages, like high capital requirements and
odor issues, hinder market growth. Approximately 16 billion
injections administered globally result in a large volume of
biomedical waste, requiring effective and cost-efficient management
solutions.
- The waste management market faces several challenges in
implementing effective solutions. One major challenge is the
increasing volume of waste generation, particularly in urban areas.
Another challenge is the proper segregation and disposal of
different types of waste, such as organic, inert, and hazardous.
The cost of waste management is also a significant challenge, with
many organizations looking for cost-effective solutions.
Additionally, the regulatory environment is constantly evolving,
requiring businesses to stay updated with the latest regulations
and compliance requirements. Lastly, the use of technology and
automation in waste management is becoming increasingly important
to improve efficiency and reduce labor costs.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This waste management market report extensively covers market
segmentation by
- End-user
- 1.1 Residential
- 1.2 Commercial
- 1.3 Industrial
- Service Type
- 2.1 Landfill
- 2.2 Open dumping
- 2.3 Incineration
- 2.4 Recycling
- 2.5 Composting and anaerobic digestion
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Residential- The residential sector generates a
substantial volume of waste, contributing significantly to the
global waste management market. With increasing urban populations
and consumerism, the production of municipal solid waste (MSW) is
projected to rise from 2.01 billion metric tons to 3.4 billion
metric tons by 2050. Effective waste management strategies are
essential to handle this growing waste stream, involving household
separation of recyclables, organics, and non-recyclables for
efficient sorting and treatment. This trend drives the expansion of
the global waste management market in the residential segment.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Waste Management Market encompasses various sectors,
including Environmental Sustainability and Public Health, focused
on mitigating the impacts of Rapid Industrialization and Urban
Population growth on the environment. Key areas of concern are
Transportation, Processing, Recycling, and International
Organizations' roles in implementing Extended Producer
Responsibility and Circular Economy principles. Repurposing and
Reusing materials from Municipal Solid Waste, Sewage, and
Industrial Waste streams are essential. Recycled materials, such as
Plastic and Rubber, are in high demand, reducing CO2 emissions and
minimizing the need for new resource extraction. Compositing and
the management of Hazardous Waste are also critical components of
the market. Amidst the Coronavirus pandemic, waste production has
increased, emphasizing the need for effective Waste Management
strategies.
Market Research Overview
The Waste Management Market encompasses the collection,
transportation, processing, and disposal of waste materials. This
essential industry aims to reduce the negative impact of waste on
the environment and public health. Various waste streams, including
municipal solid waste, industrial waste, hazardous waste, and
electronic waste, are managed through different methods such as
landfills, recycling, and energy recovery. Technological
advancements have led to innovations in waste management, including
the use of automation, biodegradable plastics, and waste-to-energy
technologies. Regulations and policies play a crucial role in
shaping the waste management landscape, with a focus on
sustainability, circular economy, and resource recovery. The market
is expected to grow due to increasing waste generation, stringent
regulations, and the shift towards more sustainable waste
management practices.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Residential
- Commercial
- Industrial
- Service Type
-
- Landfill
- Open Dumping
- Incineration
- Recycling
- Composting And Anaerobic Digestion
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/waste-management-market-size-is-set-to-grow-by-usd-223-8-billion-from-2024-2028--laws-in-europe-for-recycling-waste-boost-the-market-technavio-302176435.html
SOURCE Technavio