The waste management market is expanding as governments and companies implement sustainable waste management solutions. Discover how the market is evolving and what opportunities lie ahead
—
The global waste management market size is expected to reach USD 3,225.72 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.
Due to growing environmental sustainability concerns and the requirement for effective waste management, the waste management market has seen tremendous expansion in recent years. The goal of waste management is to reduce, collect, transport, recycle, and dispose of trash through a variety of operations. The market is anticipated to keep expanding as the world’s population rises, urbanisation quickens, and regulatory standards tighten.
The increased understanding of the harmful effects of trash on the environment is one of the major factors driving the waste management market. Pollution, microbial contamination of soil and water resources, and greenhouse gas emissions can all result from improper trash disposal. Investment in waste management systems has increased as a result of the need to reduce these environmental effects. The demand for trash management services has increased as a result of legislation that governments all over the world have put in place to encourage sustainable waste management practises.
The market for waste management is also being driven by the growing application of circular economy principles. By ensuring that resources are used effectively and that goods are made to be reused, recycled, or repurposed, the circular economy model seeks to eliminate waste. As corporations and governments try to lessen their environmental impact, this concept has acquired a lot of support recently, especially in developed economies.
Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/691
The waste management sector has room for expansion, but it also faces a number of obstacles. The absence of adequate infrastructure and resources in emerging nations is one of the major problems. Effective garbage collection and disposal become challenging as a result, posing risks to the environment and human health. The high upfront costs of waste management solutions, particularly for small and medium-sized businesses, provide another difficulty. This may discourage companies from making sustainable waste management practises a priority.
In the upcoming years, the waste management market is anticipated to expand further due to a number of variables. The growing use of waste-to-energy solutions is one of the major growth causes. Waste-to-energy systems turn waste materials into energy, such as heat or electricity, through procedures like gasification or incineration. These approaches are gaining popularity since they offer a renewable energy source while lowering waste production.
Waste Management Market Segmentation:
The waste management market is categorized based on type and service outlooks. The type outlook includes industrial waste, municipal waste, hazardous waste, and biomedical waste. Among these, the industrial waste segment accounted for the largest revenue share in 2020 due to increasing industrialization and manufacturing activities across the world. The stringent government regulations regarding the disposal of industrial waste have further driven the demand for waste management solutions to effectively manage and dispose of this waste.
The service outlook includes collection service, collection & transportation, storage & handling, sorting, disposable service, landfills, recycling, composting, and anaerobic digestion. The disposable service segment is expected to expand at a rapid CAGR during the forecast period due to the growing demand for convenient and hygienic disposable products, particularly in the food and beverage industry. The food and beverage industry is a major consumer of disposable services, including single-use utensils, plates, cups, and packaging materials. The increasing demand for takeout and delivery services, as well as the growing trend of convenience foods, has further fueled the demand for disposable products.
In terms of geography, Asia Pacific accounted for the largest revenue share contribution to the global waste management market in 2020 due to several factors. The region has a large and rapidly growing population, which has led to a significant increase in the generation of waste. This has created a huge demand for waste management solutions to effectively manage and dispose of this waste. The rapid urbanization and industrialization across the region have further driven the demand for waste management solutions.
The waste management market is expected to experience significant growth in the coming years due to the increasing focus on environmental sustainability and the implementation of stringent government regulations regarding waste management. The growing demand for waste management solutions to effectively manage and dispose of various types of waste, particularly industrial waste, is expected to drive the market growth. Additionally, the increasing adoption of sustainable and eco-friendly materials and the growing trend of digitalization and automation in waste management processes are expected to provide new growth opportunities for the market players.
The Environmental Protection Agency (EPA) estimates that 292.4 million tonnes of municipal solid garbage were produced in the United States in 2018. Among them, 146 million tonnes were dumped in landfills and 68 million tonnes were recycled. Additionally, according to the EPA’s estimation, the United States produced 2.7 million tonnes of electronic garbage in 2018. These figures demonstrate the necessity for efficient waste management techniques to lessen the negative effects of trash on the environment.
Find More Competitor in TOC with Profile Overview Share Growth Analysis @ https://www.emergenresearch.com/industry-report/waste-management-market
Some Key Highlights from the Report
In September 2020, SUEZ and PreZero, the environmental division of Schwarz Group, announced that they had entered into exclusive negotiations for PreZero to acquire SUEZ’s Recycling & Recovery operations in Germany, Luxembourg, Netherlands and Poland. The acquisition was aimed at creating a leading waste management company in these regions, with a focus on promoting the circular economy and reducing the environmental impact of waste.
Industrial waste segment accounted for largest revenue share in 2020 due to The industrial waste segment accounted for the largest revenue share in 2020 due to several factors. First, the increasing industrialization and manufacturing activities across the world have led to a significant increase in the generation of industrial waste. This has created a growing demand for waste management solutions to effectively manage and dispose of this waste.
The disposable service segment revenue is expected to expand at a rapid compound annual growth rate (CAGR) during the forecast period due to several factors. One of the key drivers is the growing demand for convenient and hygienic disposable products, particularly in the food and beverage industry.
Asia Pacific accounted for the largest revenue share contribution to the global waste management market in 2020 due to several factors. First, the region has a large and rapidly growing population, which has led to a significant increase in the generation of waste. This has created a huge demand for waste management solutions to effectively manage and dispose of this waste.
Key players in the market include Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, REMONDIS SE & Co. KG, Suez Environment S.A., Veolia Environnement S.A., Waste Management, Inc., and Republic Services, Inc.
About Us: Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Info:
Name: Eric Lee
Email: Send Email
Organization: Emergen Research
Address: 14671 110 Avenue, Surrey, British Columbia, V3R2A9
Phone: 604757975
Website: https://www.emergenresearch.com/
Release ID: 89095555
