Waste Management Market to be Worth $703.9 Billion by 2030
Meticulous
Research®—a leading global market
research company, published a research report titled, 'Waste Management
Market by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling,
Recycling, Incineration), and Source (Residential, Commercial, Municipal, and
Industrial) - Global Forecast to 2030.'
According to this latest publication from
Meticulous Research®, the waste
management market is projected to reach $703.9 billion by 2030, at a CAGR of
4.9% during the forecast period. The market's growth is driven by
government regulations for waste management, increased consumer awareness about
environmental protection, and the growing adoption of smart waste management
technology. Furthermore, technological advancements in waste management devices
and initiatives for E-waste management are expected to create market growth
opportunities.
However, the requirement of a huge capital
investment restrains the growth of this market. Additionally, the lack of a
proper disposable/dumping system in ASEAN markets and the high cost of
recycling E-devices pose major challenges for the players in this market.
Furthermore, advancements in waste-to-energy technology and the adoption of
intelligent waste management solutions are the key trends observed in the waste
management market.
The waste management market is segmented by
waste type, waste management method, and source. The study also evaluates
industry competitors and analyzes the market at the region/country level.
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Scope of the report:
Waste Management
Market Assessment, by Waste Type
·
Hazardous Waste
·
Industrial Waste
·
Municipal Solid Waste
·
E-waste
·
Plastic Waste
·
Biomedical Waste
·
Other Waste
Waste Management
Market Assessment, by Waste Management Method
·
Landfilling
·
Recycling
·
Incineration
·
Biological Reprocessing
·
Waste-to-energy
·
Other Waste Management Methods
Waste Management
Market Assessment, by Source
·
Residential
·
Commercial
·
Municipal
·
Industrial
o
Food & Beverage
o
Automotive
o
Semiconductor & Electronics
o
BFSI
o
Aerospace and Defense
o
Machinery & Metal
o
Pharmaceutical
o
Other Industries
Waste Management
Market Assessment, by Geography
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
o
Spain
o
Netherlands
o
Rest of Europe
·
Asia-Pacific
o
China
o
Japan
o
India
o
South Korea
o
Australia & New Zealand
o
Rest of Asia-Pacific
·
Latin America
o
Mexico
o
Brazil
o
Rest of Latin America
·
Middle East & Africa
o
UAE
o
Israel
o
Rest of Middle East & Africa
To
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Based on waste
type, the waste management
market is segmented into hazardous waste, industrial waste, municipal solid
waste, e-waste, plastic waste, biomedical waste, and other waste. In 2023, the
hazardous waste segment is expected to account for the largest share of the
global waste management market. The large market share of this segment is
mainly attributed to population growth and the associated increase in demand
for goods and services, growth in trade in chemical products, increased use of
oils and pesticides, and a rise in the number of hazardous components in
household waste.
Based on waste
management method, the waste
management market is segmented into landfilling, recycling, incineration,
biological reprocessing, waste-to-energy, and other waste management methods.
In 2023, the landfilling segment is expected to account for the largest share
of the global waste management market. The large market share of this segment
is mainly attributed to the rising awareness regarding waste disposal and the
advantages of landfilling, such as the use of well-engineered managed
facilities, ensuring environmental protection from contaminants. Additionally,
landfills are strategically placed using on-site environmental monitoring
systems, which help to maintain public health.
Based on source, the waste management market is segmented into residential,
commercial, municipal, and industrial. The industrial segment is further
sub-segmented into food & beverage, automotive, semiconductor &
electronics, BFSI, aerospace & defense, machinery & metal,
pharmaceutical, and other industries. In 2023, the residential segment is
expected to account for the largest share of the global waste management
market. The large market share of this segment is mainly attributed to
population growth, rural and urban development, lifestyle changes, and the
consequent change in household consumption patterns.
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Based on
geography, the waste management
market is segmented into North America, Europe, Asia-Pacific, Latin America,
and the Middle East & Africa. In 2023, Asia-Pacific is expected to account
for the largest share of the waste management market, followed by North
America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific's major market share is attributed to rapid technological
advancements in waste management and government initiatives towards the zero
waste plan in several Asia-Pacific countries. These initiatives are likely to
boost awareness regarding waste management and have a positive impact on the
market growth in the region.
Key
Players:
The key players operating in the waste
management market are Advanced Disposal Services, Inc. (U.S.), Biffa Group (U.K.),
Clean Harbors, Inc. (U.S.), Covanta Holding Corporation (U.S.), Hitachi Zosen
Corporation (Japan), Remondis AG & Co. Kg (Germany), Suez Environment S.A
(France), Veolia Environment S.A (France), Waste Management Inc. (U.S.),
Republic Services, Inc. (U.S.), Waste Connections, Inc. (U.S.), GFL
Environmental Inc. (U.S.), Stericycle, Inc. (U.S.), Casella Waste Systems, Inc.
(U.S.), and Bingo Industries Limited (Australia).
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Key
questions answered in the report-
· Which are the high-growth market segments based on waste type,
waste management method, source, and geography?
· What was the historical market for the waste management market?
· What are the market forecasts and estimates for the period
2023–2030?
· What are the major drivers, restraints, opportunities, challenges,
and trends in the waste management market?
· Who are the major players, and what shares do they hold in the
waste management market?
· How is the competitive landscape in the waste management market?
· What are the recent developments in the waste management market?
· What strategies are adopted by the major players in the waste
management market?
· What are the key geographic trends, and which are the high-growth
countries?
· Who are the local emerging players in the global waste management
market, and how do they compete with the other players?
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