Report ID: UCMIG20L2008 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: Figures:Municipal Solid Waste Management Market
Report ID: SQMIG20L2018 | Region: Global | Published Date: August, 2022 | Pages: 157 | Tables: 62 | Figures: 75
Solid Waste Management Market size was valued at USD 1777.34 billion in 2021 and is poised to grow from USD 1837.77 billion in 2022 to USD 2483 billion by 2030, growing at a CAGR of 3.4% in the forecast period (2023-2030).
The collection, disposal, and treatment of solid waste that has reached its useful life or is no longer necessary are referred to as solid waste management. Inadequate municipal solid waste disposal can result in unsanitary circumstances, which can cause environmental contamination and outbreaks of vector-borne disease. One of the biggest sources of solid waste is people's houses and places of residence. The rubbish collected at these locations includes food scraps, plastics, paper, glass, leather, cardboard, metals, yard wastes, ashes, and special wastes such major household items like electronics, tyres, batteries, old mattresses, and used oil. The majority of residences have garbage cans where they can dispose of their solid wastes. After being filled, the cans are taken for treatment by a garbage collection business or individual. One of the largest sources of solid waste is known to come from industries. Examples include factories producing both light and heavy goods, building sites, fabrication facilities, canning facilities, power plants, and chemical plants. These businesses generate a variety of hazardous wastes, including household garbage, food waste, packaging waste, ashes, building and demolition waste, special waste, and medical waste. Commercial structures and infrastructure are a new source of solid waste nowadays. Commercial structures and amenities include, but are not limited to, hotels, markets, restaurants, godowns, stores, and office buildings.
US Solid Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global solid waste management market is segmented based on the waste type, treatment method and region. Based on the waste type, the global solid waste management market is segmented as industrial waste and municipal waste. Based on the treatment method, the global solid waste management market is segmented as collection, processing, and disposal. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Solid Waste Management Market Analysis by Waste Type
The market is divided into two categories based on waste type: municipal trash and industrial waste. The largest and fastest-growing of them is industrial waste. The main source of solid waste is thought to be industrial trash. The key factor driving the expansion of this market is the rapid industrialization of developing economies. The appropriate disposal of industrial waste is required by producers due to government-imposed strict rules. The need for effective waste management services grows as a result. Additionally, the need for professional industrial waste management services is being fueled by the growing significance of material recycling and the circular economy in achieving sustainable goals.
Solid Waste Management Market Analysis by Treatment Method
The market is divided into three categories based on the treatment method: collection, processing, and disposal. The collection sector among these was responsible for the market's highest revenue in 2019. The majority of the costs associated with solid waste management are related to the labor-intensive operation of collecting solid garbage. It is a complicated operation that calls for the usage of collection equipment and an efficient choice of collection routes. In 2019, the disposal category had the second-largest market share. Incineration and landfilling & open dump are the other divisions of this category. Landfilling and open dumps are two of them that are frequently utilised to dispose of industrial and municipal solid waste. Both industrial and municipal solid waste are handled by modern landfill operations, which are carefully planned out and run in a safe and responsible manner. Land that is of poor quality could be improved through landfilling and then used for recreational parks or playgrounds. Recycling and composting are further divided under the processing segment. Recycling made up the greatest portion of total waste processing since it helps to achieve sustainable goals and provides economic advantages in terms of reduced need for raw materials. Additionally, recycling lessens the need for landfilling and incineration and promotes environmental safety.
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With a share of 34.2%, Europe dominated the global solid waste management market in 2021. In 2021, Europe held the biggest market share for solid waste management. The region's growth is most likely to be aided by regulatory measures that promote effective solid waste disposal, such as a carbon price, direct subsidies, or landfill levies. The development of waste management solutions is anticipated to be fueled by growing public and governmental awareness of waste-to-energy options in the area. The region's solid waste management market is anticipated to rise as a result of technological developments in waste management solutions. As the government regularly implements rigorous rules regarding emission control in order to limit the emission of greenhouse gases in the environment, the Asia Pacific region is predicted to experience the quickest growth throughout the projection period. The government's increased support for the installation of cutting-edge waste treatment facilities is anticipated to fuel the industry's expansion in this area.
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Solid Waste Management Market Driver
Rapid urbanization and industrialization are the primary drivers of the solid waste management market's expansion. In addition, the market is anticipated to grow as new technological trends, including smart waste management, emerge. In the upcoming years, this will help the market grow along with the development of Internet of Things technologies, which have the ability to improve garbage collection processes through optimization while also lowering total operational costs.
Solid Waste Management Market Restraint
The process of managing solid waste is difficult and time-consuming. As a result, waste collection vehicles, bins, and processing equipment have substantial initial and ongoing costs. Waste management necessitates a larger workforce performing a variety of tasks. It might be difficult to maintain properly motivated workers because they frequently need to work in multiple places to ensure efficient operations. Additionally, solid trash should be managed carefully and with the aid of trained employees because it can quickly harm the land and water resources. The whole operation's running costs consequently go up as a result.
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A large number of small and medium-sized manufacturers dominate the solid waste management market, which is relatively fragmented and accounts for a sizable portion of the global share. The firms are engaged in numerous R&D projects and have well-equipped manufacturing facilities. Leading participants in the market for solid waste management include:
Top Players in the Global Solid Waste Management Market
Solid Waste Management Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global solid waste management market analysis, the adoption of creative solid waste management solutions is rapidly expanding as awareness of the negative effects of improperly disposed-of and uncollected solid wastes grows. The market for solid waste management is also being revitalised by the advent of numerous beneficial government initiatives to enhance waste collection systems and create cutting-edge waste management techniques. During the projected period, technological developments and innovations to improve operational and cost effectiveness while reducing energy use in solid waste management are likely to further fuel market expansion.
|Market size value in 2021||USD 1777.34 billion|
|Market size value in 2030||USD 1837.77 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Solid Waste Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Solid Waste Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQMIG20L2018