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. Steady market revenue growth can be attributed to rising concerns regarding waste management across the world, rapid urbanization, economic development, and increasing global population. Steady and increasing generation of vast volumes of waste is driving urgent need for more effective and efficient waste management facilities and solutions. Rising volumes of hazardous chemical wastes generated by healthcare, pharmaceuticals, and manufacturing industries is expected to boost utilization of waste management facilities to minimize environmental degradation during the forecast period. Improper treatment of municipal waste is contaminating oceans, transmitting diseases, clogging drains, causing flooding, and resulting in increasing respiratory problems from burning. Untreated manufacturing wastewater introduces toxic heavy metals into the environment or leads to an explosion of oxygen-depleting algae, which eventually kills marine life and potentially harm plants and animals throughout the food chain.
Rising levels of greenhouse gases generated from solid waste is a key contributor to climate change. These factors are contributing to increasing need to adopt more effective and proper waste management solutions to achieve sustainable development goals. Limited availability of landfill sites in overpopulated countries coupled with growing initiatives to minimize the use of landfills due to negative impact on the environment and to overall human, animal, and plant health are key factors boosting the need for effective waste recycling.
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Increasing developments of waste-to-energy technologies and solutions owing to rising demand for effective energy generation is expected to drive demand for waste management solutions. The waste unfit for recycling and combusting are utilized in waste-to-energy plants. The potential for energy generation from landfill via methane extraction or thermal treatment is projected to create lucrative opportunities in the market in future.
Some Key Highlights from the Report
- In September 2020, SUEZ and PreZero, which is the environmental division of Schwarz Group, announced that they entered into a Memorandum Of Understanding (MoU) to explore possibilities in order to establish strategic partnerships, which would promote innovative solutions related to waste management. The partnership is expected to accelerate the development of the circular economy in Europe.
- Industrial waste segment accounted for largest revenue share in 2020. Rising volumes of hazardous chemical wastes generated by healthcare, pharmaceuticals, and manufacturing industries is driving the need for waste management facilities among industries to minimize environmental degradation and adverse effects on human health.
- Disposable service segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing initiatives by governments regarding safe disposal of industrial and municipal waste is driving demand for disposal services.
- Asia Pacific accounted for largest revenue share contribution to the global waste management market in 2020. Rapid urbanization, industrialization, population growth, and economic development in countries in the region have resulted in increasing volumes of waste generation, which is driving rapid need for waste management facilities in the region.
- 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.
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Emergen Research has segmented the global waste management market on the basis of type, service, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Industrial Waste
- Municipal Waste
- Hazardous Waste
- Bio-medical waste
Service Outlook (Revenue, USD Billion; 2018–2028)
- Collection Service
- Collection & transportation
- Storage & handling
- Sorting
- Disposable Service
- Landfills
- Recycling
- Composting & Anaerobic digestion
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Ireland
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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