Waste Management Market

Waste Management Market Size

Waste Management Market to surpass USD 686.1 billion by the end of 2031 from USD 413.2 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031. 

Environmental protection requires effective waste management. Its objective is to provide sanitary, cost-effective solid waste storage, efficient, collection, treatment, transportation, and disposal without harming the environment, land, or water system. To live a healthy life in today's world, waste management is critical. It not only improves health by cleaning the environment, but it also maintains the environment, improves the living conditions for sea and land creatures, lowers production costs, and helps businesses make more money.

Market Highlights

Waste Management Market is expected to project a notable CAGR of 5.2% in 2031

Rapidly developing economies, urbanization growth has resulted in massive volumes of trash being released into the environment. Globally, present waste and resource management lack a holistic approach that encompasses the entire product design, raw material extraction, manufacture, consumption, recycling, and waste management cycle. The market is emerging owing to a lack of land for active waste disposal and a key focus on resource and energy recovery.

Global Waste Management Market: Segments

E-Waste segment is expected to show a higher CAGR during the forecasted period 2021-31

Based on Waste Type, the Waste Management Market is divided into Hazardous Waste, E-Waste, Plastic Waste, Bio-medical Waste, and Others. During the projected period, the e-waste category is expected to lead the waste management market. Electrically-enabled component garbage is comprised in e-waste. Computers, consumer electronics, and refrigerators are examples of these appliances. E-waste is a combination of harmful and useful elements that should be carefully handled and recycled. Hence, e-waste treatment is today more important worldwide to safeguard the environment from the unsafe impacts of risky elements like plastics and lead.

Residential segment is projected to record maximum market share during the period 2021-31

Based on End User, the Waste Management Market is divided into Residential, Commercial, Industrial. In 2020, the residential sector accounted for the greatest proportion of the waste management market by the end-user. The residential segment is expected to generate demand for waste management services due to the rising population and large solid waste generation. Waste created by home end users can be utilized to generate energy in garbage-to-energy plants, which burn solid waste to produce steam in a boiler, as well as to generate electricity.

Market Dynamics

Drivers

Focus on destruction and building of proper waste management is driving the market

Debris and construction waste is quickly expanding around the world, necessitating a variety of management operations such as collection, transportation, disposal, monitoring, and recycling of trash generated by the demolition, construction, or repair of buildings or any other infrastructure. The market is expected to develop due to a focus on demolition and construction waste management solutions.

Growing e-waste due to several factors is driving the market

The market is growing due to an increase in e-waste, which is mostly due to life expiration, technical improvements, or requirement changes. During building activities, waste management entails reducing and reusing materials such as metal, concrete, soil, wood, glass, cardboard, and plastic. This saves garbage from entering landfills and causing contamination, which in turn increases market demand.

Restraint

Low awareness and importance are given to Waste Disposal

Less sustainability in waste management organizations and limited importance given to waste management are the factors that are expected to hinder the market growth.

Global Waste Management Market:

Key Players

• Biffa Plc

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Clean Harbors, Inc.
• Covanta Holding Corporation
• Daiseki Co., Ltd.
• Hitachi Zosen Corporation
• Remondis Se & Co. Kg
• Republic Services, Inc.
• Suez
• Veolia Environnement
• Waste Management Inc.
• Other Prominent Players

Global Waste Management Market: Regions

By geography, the Waste Management Market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In 2020, Asia Pacific held the highest proportion of the global waste management market. The region's rise in population, growing demand for packaged foods, and high disposable income are only a few of the primary drivers driving waste management growth in the region. Plastic bottles, single-use plastic products, plastic bags, and plastic packaging, among other materials, are a major source of marine plastic pollution in the Asia Pacific.

Impact of COVID-19 on Waste Management Market

COVID-19 influenced the waste management industry because of the focus shift; during the lockdown, the residential segment generated more garbage than the industrial and commercial segments, as industries and offices were partially shut down. Reviving economies and resuming manufacturing activities, as well as the launch of vaccination campaigns in several nations, will boost garbage creation and lead to the re-starting of waste recycling and waste management businesses at full capacity.

Global Waste Management Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States, Mexico, and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Russia, Spain, Denmark, Norway, Ireland, Portugal, Greece, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Australia, and Rest of APAC
• The Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – South Africa and Rest of Middle East and Africa

The Global Waste Management Market report also contains an analysis on:

Waste Management Market Segments:

• By Waste Type
  • Hazardous Waste
  • E-waste
  • Plastic Waste
  • Bio-medical Waste
  • Others 
• By Service Type
  • Open Dumping
  • Incineration/Combustion
  • Landfill
  • Recycling
  • Composting & Anaerobic Digestion
• By End-User
  • Residential
  • Commercial
  • Industrial
• Waste Management Market Dynamics
• Waste Management Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Waste Management Market Report Scope and Segmentation

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