USD 889.58 billion
Waste Management Market Size, Share, Growth Analysis, By Waste Type(Non-hazardous Industrial, Construction, Municipal, Hazardous, Medical, E-waste), Disposable Method(Open Dumping, Landfill, Recycling, Incineration, Composting & Anaerobic Digestion), Source, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2139 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
95
|Figures:
76
Waste Management Market Insights
Global Waste Management Market size was valued at USD 1.29 Trillion in 2022 and is expected to grow from USD 1.36 Trillion in 2023 to USD 2.07 Trillion by 2031 at a CAGR of 5.4% during the forecast period (2024-2031).
Increasing social and environmental dilemmas have forced the governments of many countries to refocus on the reengineering of their waste management system through recycling, reusing, and changing waste into energy. The governments have been issuing new rules for decreasing waste generation, reuse of materials, and recycling. World-wide, 58.3% of waste is collected; 18% of waste is recycled. Multiple international organizations and the World Bank are deploying grants to developing nations in an effort aimed at strengthening their waste management systems. Urbanization and industrialization are the principal initiating factor of this market. The waste management process is made up of operations such as garbage collection, transportation and final waste management. The process of waste management implies the criteria of waste selection by minimizing, reusing, and recycling of municipal, industrial, and hazardous waste. With the increase of the disposable income among people, rapid acquisition of new electronic products and the globalization has created a high rate of buying-and-replacing new electronics among developing countries, which consequently generate e-waste. Not only does poor waste management lead to degradation but also the whole eco-system is affected. Thus, the World Bank is offering financing to waste management projects by solving problems of garbage from factories and homes such as collection, transportation, treatment, and disposal. The fund for the Middle East & Africa has been created to build or renovate waste sorting and processing facilities, construct or recondition the landfills, provide bins, dumpsters, trucks and transfer stations for the collection of the rubbish.
NRDC, the National Research and Development Corporation, through its ‘Save the Food’ campaign, is aiming to bring attention to the prevalence and effects of home food waste. The US EPA is in process of enhancing the current medical waste management practices. Furthermore, there have been several regulations drafted throughout the European community to gag waste and increase reuse by offering financial incentives, deposit-return programs, and phase-out of waste-promotion subsidies to people. A binding commitment of Member States with recycling targets and additional wastes reduction measures was achieved by the European Union.
US Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hazardous Waste
Fastest Growth
Hazardous Waste
Growth Rate
5.4% CAGR
Global Waste Management Market ($ Tn)
Country Share for Asia Pacific Region (%)
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Waste Management Market Segmental Analysis
Waste management market is segmented by Waste Type, Disposable Method, Source, and region. Based on Waste Type, the market can be segmented into Non-hazardous Industrial Waste, Construction & Demolition Waste, Municipal Solid Waste, Hazardous Waste, Medical Waste, and E-waste. Based on Disposable Method, the market is segmented into Open Dumping, Landfill, Recycling, Incineration/Combustion, Composting & Anaerobic Digestion, and Others. Based on Source, the market is segmented into Residential (Urban, Rural), Commercial (Offices and Retail Stores, Hospitals, Restaurants, Others), and Industrial (Process Industries, Construction, Renovation, And Demolition Waste, Others). Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Waste Type
Municipal solid waste is the largest section of the global waste management industry. Municipal solid waste or MSW is composed of waste from households, business operations, and public institutions that are in cities and municipalities. For instance, it may consist of the junk, which people use every day on a day-to-day basis, such as food waste, packaging materials, paper, plastic, and others, which are not categorized as hazardous wastes. The introduction of large amounts of waste from these sectors into the circulation dictates the saliency of the municipal waste component. Municipal waste management encompasses services such as waste picking, transportation, washing, recycling, and land diversion, which include landfilling or waste incineration. The growth in the population, urban area, and the consumerism of the globe have fuelled the growth in this sector to the larger extent as the municipal wastes have become the high producing market segment.
The electronic waste or e-waste segment which is the fastest growing one in the global waste market is called e-waste all over the world. This type of waste is constituted by any exhausted electronic gear, e.g., computers, phones, televisions, refrigerators, immersive games, and other household electric appliances. The electronic devices are used increasingly and with a high speed worldwide, hence among other electronic devices dangerous effects, the e-waste generation has increased significantly. The waste from electric and electronic components, known as E-waste, contains contents with high material and hazardous value that are very important in the process of resource recovery and the protection of the environment.
Analysis by Source
The industrial sector is the largest segment in the global waste management market. Industrial waste is a major source of total waste generated all over word. This is accounting for about 50% to 70% of the total waste production. The major contributor are factories, manufacturing units, and other industrial activities contribute significantly to this volume. Industrial waste surpasses municipal waste which is highlighting the need for stringent management practices in many countries. Based on our findings, industrial activities generate in the United States is around 7.6 billion tons of solid waste in year which has exceeded 250 million tons produced by households. This dominance highlights the critical importance of focusing on industrial waste management to overcome environmental impacts and promote sustainable practices.
The fastest-growing segment of the global waste management market is commercial segment. It is industrial waste disposed of by private industries, offices establishments, shops, hotels, cuisine, etc. Commercial waste (comprising of packaging materials, office supplies, food waste from restaurants and hotels and other non-hazardous waste from commercial companies) encompasses the waste generated during commercial operations. The cause of the development of the market in commercial waste management is a combination of several forces. To start with, the multitude of commercial activities along with the totality of businesses that have been involved in this worldwide operation enhance the possibility of more waste accumulation in such areas. On the other hand, regulatory mandates and environmental awareness are one of the influential factors making businesses to adopt sustainable waste management practices, which in turns, turns into the need for the specialized waste management services. Interestingly, along with the growth in the ideas of corporate social responsibility and the preference to work on lessening of the environmental impact of commercial activities, the demand among the businesses for more efficient waste management also becomes increasingly high. To this end, the waste management businesses start launching customized services and solutions meeting specifically clientele requirements.
Global Waste Management Market By Source ($ Tn)
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Waste Management Market Regional Insights
The Asia-Pacific region dominates with approximately 24.8% in 2023 of global waste management market share. Several countries in this region including India have active government policies including India's Clean India Campaign as well as similar zero waste strategies by many other Asia-Pacific countries. These programs are key in disseminating information to the public about the significance of efficient waste management processes. With increasing awareness, more stress comes on to sustainable waste management and recycling processes which results in the expansion of the market in the area. Urbanization and industrialization across Asia-Pacific witness steep growth in waste generation leading to the escalation of the waste management systems.
However, by contrast, demand for waste management services in the North American region, triggered by several major factors, is growing rapidly. Initially, the area is facing bulging production of waste along with tough governmental regulation to combat environmental pollution. Such laws require proper waste disposing standards and encourage recycling, hence, energizing the demand for advanced waste management techniques. Also, the problem of the illegal dumping is the environmental danger that underlines the need for a strong waste management system. Technological advancements also power a transformation in the waste management sector in North America. Additionally, innovation such as PET (polyethylene terephthalate) bottle recycling technologies are transforming the field of waste management. The recycling of PET is of particular importance given the widespread use of PET in packaging, the beverage industry. Through adoption of advanced recycling technologies, North America is on the cusp of improving its waste recycling capacity and minimizing its ecological footprint.
Global Waste Management Market By Region
- Largest
- Fastest
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Waste Management Market Dynamics
Waste Management Market Drivers
Rapid Urbanization is a Main Factor Driving Market Growth
- One of the most compelling factors that has fueled the increase in demand for waste management solutions globally is the growing rate of urbanization. WHO’s estimate of the current urban population stands at over 55 percent of the global population with the figure likely to reach 68 percent by mid-century. This implies a continuous trend of urbanization that results in a transfer of people from the rural areas to the urban areas hence creating crowded clusters in the urban areas and more tendencies towards urban life. Likewise, the quantity of municipal solid waste, which is arguably the quintessential form of waste resulting from life in cities, is increasing at a rate that is higher than that of urbanization.
Government Regulations and Policies in Waste Management
- The government policies and regulations are very strict when it comes to environmental protection and garbage management that is why they play a major role in the market. Such rules require some actions like proper waste disposal, recycling and reduction in the amount of trash going to landfills. To follow these directives, it is necessary not to only invest funds into modern technologies dealing with wastes but also create appropriate infrastructure thus enhancing market expansion while at the same time providing for reasonable environmental behaviour patterns in the long run.
Restraints
Lack of Infrastructure is Restraining the Market Growth
- The one of the significant market restraints which is globally affecting the waste management sector is improper infrastructural facilities mainly in developing countries. Incompetent waste collection systems might cause an inefficient or poor removal of waste originating from different places like homes, business places, and outside gathering centres. Due to this, an uncollected waste bulk builds up, which later is left in landfills, where it is not being sorted out or recycled. Therefore, the municipalities and towns lack efficient waste collection systems, which is not appropriate for the increasing volume of the waste generated by a population growth. This is a short-term horror where a pile of waste is being stacked in those unmaintained and filthy areas such as roads, plazas, and rivers. The lack of a waste management infrastructure brings challenges.
High Implementation Costs
- This market constraint is due to advanced waste management system setup as well as infrastructure is associated with high initial costs. Advanced technology, proficient staffs as well as continuous maintenance costs may not be affordable to smaller towns and firms thus impeding the common use of current waste management techniques.
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Waste Management Market Competitive Landscape
The global waste management industry offers strong competition due to the presence of multiple significant players. The companies adopt the waste management solutions wherein they offer waste collection, transportation, recycling and disposal services. The major market players concentrate on resistance strategies like mergers and acquisitions, partnerships and collaboration with others to expand their geographical territory and to improve their services. Furthermore, technical developments and innovation are key constituents when it comes to maintaining a competitive edge. The market is a mix of established and new waste management companies competing in an environment that is favourable for innovation and competition. Key market players perform on the grounds, respond to different factors like service quality, pricing, technological capabilities, and environmental sustainability enabling the growing world requirement for efficient and environmentally friendly waste management solutions.
Waste Management Market Top Player’s Company Profiles
- Waste Management Inc. (US)
- Veolia Environnement S.A. (France)
- SUEZ Environment S.A. (France)
- Republic Services, Inc. (US)
- Clean Harbors, Inc. (US)
- Waste Connections, Inc. (Canada)
- Stericycle, Inc. (US)
- Biffa Group Limited (UK)
- Remondis AG & Co. Kg (Germany)
- Advanced Disposal Services, Inc. (US)
- Casella Waste Systems, Inc. (US)
- Covanta Holding Corporation (US)
- FCC Environment (Spain)
- Waste Industries (US)
- Renewi plc (Netherlands)
- Progressive Waste Solutions Ltd. (Canada)
- Hitachi Zosen Corporation (Japan)
- China Everbright International Limited (China)
- Newater Technology, Inc. (Singapore)
- GFL Environmental Inc. (Canada)
Waste Management Market Recent Developments
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In June 2024, an Assembly session Tamil Nadu’s Minister K. N. Nehru made an announcement on behalf of the government. Some of the other long-term strategies of the government of Tamil Nadu include the enhancement of solid waste and sewage management besides developing infrastructural facilities to counter problems arising from urbanization.
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In November 2023, Biffa Ltd, which is one of leading company in waste management, finished the acquisition of Hamilton Waste and Recycling Limited, currently the biggest one in UK providing services for construction and demotion waste. The currently acquired recognition of Biffa is the solidifying step towards the broadening of the waste materials tied to the construction and demolish sector. Thus, it contributes to carbon diminishing lorry and plant without pollutions and complements the company strategy about the sustainability and the environment protection.
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In July 2023, SUEZ, an international environmental services company, purchased the stakeholder for 60% of APBB in the Czech Republic. This action results in the further expansion of the SUEZ’s business in the waste management markets in the Czech Republic. With this strategic move, the SUEZ enters the municipal and industrial waste management markets and the green energy production market. SUEZ obtains other capacities which strengthen the company’s positions in the region and allow supplying municipalities and other commercial companies and organizations with a vast range of waste management solutions.
Waste Management Key Market Trends
- Growing of Food and Beverage Industries: The food & beverage sector is strongly expected to witness steady growth during the following period, this growth attributed to the high demand for quick consumer goods (FMCG). The market shall experience rapid growth because of woody residuals and waste disposal services due to large scale involvements. Increase in the volume of food produce is changing the trends for waste management market.
- Smart Waste Management is a Recently Emerging Theme: Waste management technologies that are not only solutions, but smart solutions are becoming the new trend now. This technology allows for determination of the time fill patterns, plan the optimum route schedule, and minimize the operation cost. In addition, the systems can be deployed to supervise and record the trucks' movements and the progress of its collection. The incorporation of these technologies will fundamentally reshape the way we look at waste management companies in the future- as the aspect of such enterprises will become more demanding and profitable.
Waste Management Market SkyQuest Analysis
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 by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global waste management market analysis, currently the market is experiencing strong growth, because of growing awareness about health, stricter rules of waste management and the global demand for green technologies. In addition to the urbanization and the industrialization have escalated the need for waste management and on the other hand, they generate new collection, recycling and disposing methods. It is the application of these innovations that provides the direction for the market including waste-to-energy conversion, recycling, and landfill gas recovery which are all aimed at lessening the adverse effect as much as possible for waste disposal. As a result, a shift to a circular economy and recycling will also take place, thus creating a perfect basis for a market growth. Nonetheless, issues like missing of waste management infrastructure in developing countries and the high capital needed for sophisticated waste management technologies can be seen as restraining factors for market development. As the market environment is not gaining a monopolistic structure, Key market players are into the practices of strategic partnerships, acquisitions, and technological advancements to catch up and groove in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.29 Trillion |
| Market size value in 2031 | USD 2.07 Trillion |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Waste Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Waste Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Waste Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Waste Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Waste Management Market Report Snapshots
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