Global Waste Management Market Size, Share, Growth Analysis, By Waste Type(Hazardous Waste, E-waste), By Service Type(Collection, Open Dumping), By End-User(Residential, Commercial) - Industry Forecast 2024-2031

Global Waste Management Market size was valued at USD 889.58 billion in 2019 and is poised to grow from USD 938.25 billion in 2023 to USD 1329.61 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

Government regulations that have been expected to have a significant effect on the market are the Resource Conservation and Recovery Act and the Waste Shipment Regulation. The regulations are intended to improve this experience better. Due to the lockdown during the COVID-19 pandemic, generated waste from the commercial and industrial sectors decreased as factories and offices were closed completely or in part. All the same, waste in urban areas from population centers grew. Beginning in 2019, production facilities reopen, and rising vaccination rates cause businesses in the trash recycling sector to resume operations at maximum capacity.

Several disposal techniques and procedures have developed as a result of increasing awareness of proper waste disposal and its significance for maintaining animal and human health on a global scale. Waste management companies must promptly dispose of or recycle the waste because of the presence of massive quantities of hazardous compounds, such as metals and salts, in the waste.

The market is dominated by a few wastes’ major players, such Veolia, Covanta, Valrico, and Waste Management Inc., that have substantial customer bases and good reputation and thus limit new entrants. Due to the sophisticated nature of processing technologies, large capital costs are also anticipated for new market entrants. This is anticipated to reduce the threat of new entrants, hence decreasing market competition.

The high cost of buying and using waste management solutions is anticipated to have an influence on market growth. Also, the industry necessitates a lot of effort and can pay the high rates. Transportation costs for garbage are also high as these include both collection and delivery to landfills or recycling facilities.

US Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.