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The Global Waste Management Market Size is valued at 751.3 billion in 2023 and is predicted to reach 1165.1 billion by the year 2031 at a 5.78% CAGR during the forecast period for 2024-2031
Advancements in waste management technologies, such as waste-to-energy, recycling, and innovative waste management systems, are driving the waste management market growth. These technologies are making waste management more efficient, cost-effective, and sustainable. Adopting waste management practices can result in economic benefits, such as reduced waste disposal costs, increased recycling and resource recovery revenue, and reduced environmental impact. These economic benefits drive businesses and governments worldwide to adopt waste management practices. Overall, these drivers are boosting the growth of the waste management market demand. The waste management market progress is expected to raise as the demand for sustainable waste management practices increases worldwide.
Key Industry Insights & Findings from the Report:
- The integration of advanced technologies, such as Internet of Things (IoT) sensors, artificial intelligence, and data analytics, offers opportunities to optimize waste collection routes, monitor fill levels in bins, and improve overall operational efficiency.
- The increasing demand for innovations in waste management technologies enhances efficiency, recycling rates, and overall sustainability.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is the resistance to adopting new waste management practices, both at the individual and organizational levels, can be a significant constraint.
Implementing proper waste management practices and infrastructure requires significant investment, which can challenge developing countries and small businesses. The lack of funding can hinder the adoption of waste management practices and technologies.
Competitive Landscape:
Some of the waste management market players are:
- Augean Plc
- Biffa Plc
- Biomedical Waste Solutions
- Clean Harbors
- Cleanaway Waste Management Limited
- Covanta Holding Corporation
- Daiseki Co. Ltd
- Enviro-Hub Group
- Eri
- Fcc Environment
- Hitachi Zosen
- Reclay Group
- Remondis Se & Co. Kg
- Republic Services
- Stericycle
- Suez
- Umicore
- Urbaser
- Valicor
- Veolia Environnement
- Waste Connections Inc.
- Wm Intellectual Property Holdings L.L.C
Market Segmentation:
The waste management market is segmented based on waste type, service and type. Based on waste type, the market is segmented into Municipal, Industrial, E-Waste. Based on Service, the market is further bifurcated into Collection, Recycling, Landfill and Incineration. Based on type, the market is categorized into hazardous and non-hazardous.
Based On Waste Type, The Collection Segment Is A Major Contributor To The Waste Management Market
The collection category is expected to hold a major global waste management market share. The collection segment is an essential part of the waste management industry, as it involves the collection of waste from various sources, such as households, commercial establishments, and industrial sites. The collection segment is an important component of waste management; other segments, such as transportation, processing, and disposal, are also critical. For instance, transportation is necessary to transport the collected waste to processing or disposal sites. Processing involves sorting, separating, and treating waste before disposal, and recycling involves recovering valuable materials from waste.
The Non-Hazardous Segment Witnessed Growth At A Rapid Rate
The non-hazardous segment is projected to grow rapidly in the global waste management market. The waste management market for non-hazardous waste is driven by factors such as the increasing amount of waste generated due to population growth and urbanization, the implementation of government regulations promoting sustainable waste management practices, and the adoption of new waste management technologies.
The North American Waste Management Market Holds A Significant Regional Revenue Share
The North American waste management market position is expected to register the highest market share in revenue shortly. The North American waste management market is driven by factors such as the high rate of waste generation, strict government regulations promoting sustainable waste management practices, and the adoption of new waste management technologies. The region has a well-developed waste management infrastructure, including landfills, recycling facilities, waste-to-energy plants, and composting sites. However, the waste management market in other areas, such as Asia Pacific, is also growing rapidly due to increasing population, urbanization, and industrialization. The Asia Pacific region is projected to be the fastest-growing market for waste management due to the rising demand for sustainable waste management practices and the implementation of government regulations to promote waste reduction, recycling, and resource recovery.
Waste Management Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 751.3 Bn |
|
Revenue forecast in 2031 |
USD 1165.1 Bn |
|
Growth rate CAGR |
CAGR of 5.78% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Material, Product, Application, End-Use |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Veolia, Cleanway Waste Management Limited, Daiseki Co. Ltd, Waste Connections Inc., Clean Harbors, Seuz, Umicore, E.R.I., Stericycle, Enviro-Hub group, W.M. Intellectual Property Holdings L.L.C., Augean Plc and Reclay Group. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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