The global waste management market size is expected to reach USD 1,685.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2022 to 2030. Proactive government measures to decrease illegal dumping and the rising adoption of waste-to-energy (WTE) incineration and recycling techniques are anticipated to boost the market growth.
Waste Management Market Report Highlights
- The disposal service type segment is expected to expand at the highest CAGR of 7.1% from 2022 to 2030 as the sustainable methods of disposal reduce pollution and recycled materials can also be used in various end-use industries
- The industrial waste type segment accounted for the largest revenue share of over 50.0% in 2021 owing to the increasing generation of waste from several end-use industries such as oil & gas, chemical, construction, and electronics
- Asia Pacific held the largest revenue share of over 40.0% in 2021 on account of the rising adoption of various waste management techniques for limiting the environmental degradation in the region
- India is estimated to expand at a lucrative CAGR of 7.2% from 2022 to 2030, in terms of revenue, on account of the rising awareness regarding health hazards and diseases caused by improper waste disposal in the country
- In May 2021, SUEZ entered into a partnership with Eramet, a key manufacturer in the extraction and valorization of metals, to offer a sustainable and high-performance battery recycling solution for the European market
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Waste management is the process of segregating, collecting, treating, & disposing of or recycling of materials. It offers a range of solutions for recycling items that don’t belong to trash and some waste can provide a source of energy and resources. It deals with all types of waste, including industrial, biological, household, municipal, organic, biomedical, and radioactive wastes. Sustainable waste management systems include advanced management strategies to minimize environmental challenges and protect resources. The goal is to maximize resource value while minimizing and even eliminating environmental impact hence both our economy and our environment can thrive and achieve sustainable development. They deal with all types of waste, including industrial, biological, household, municipal, organic, biomedical, and radioactive wastes. According to the World Bank, Open dumping accounts for about 31 percent of waste, 19 percent is recycled or turned into compost, and remaining 11 percent is incinerated for final disposal.
Rapid industrialization in developing countries such as India and China generates waste and causes pollution by the end-use industries. Rising environmental awareness regarding renewable waste management among individuals and increasing CO2 emissions across the globe are expected to have a positive impact on the market growth over the forecast period.
The adoption of plastics in packaging, consumer goods, transportation, electrical/electronic, and machinery manufacturing industries is witnessing significant growth. Rising demand for consumer electronics such as mobiles, which are typically composed of 40% plastic, PCs/laptops, washing machines, and dishwashers is expected to boost the market growth.
The demand for electronic products is rising rapidly globally, resulting in the increased generation of e-waste. The electronics companies are focusing on the usage of recycled material for production to limit the environmental degradation caused by e-waste. The rising demand for recycled materials from the electronics industry is expected to foster market growth.
The governments of various countries have introduced regulations regarding the effective disposal of wastes such as the landfill directive (1999/31/EC) standards for landfills announced by the European Union. The rising adoption of these regulations is expected to enhance sustainable waste management practices including recycling and anaerobic digestion, thereby fueling the market growth.
Companies are focusing on mergers and acquisitions to increase the consumer base and expand their geographical presence. For instance, in October 2020, Waste Management acquired Advanced Disposal Services, providing waste management services to around new 3 million residential, industrial, and commercial customers in the U.S.
Waste Management Market Insights By Region
Asia Pacific led the industry. Government initiatives such as Swacch Bharat Abhiyan and the zero waste plan by several Asia Pacific countries are likely to boost awareness regarding waste management. This, in turn, is anticipated to have a positive impact on the market growth in Asia Pacific. The Middle East and Africa is estimated to expand at a healthy pace. The growth is attributed to the increasing awareness regarding sustainable advantages and benefits of reusing and recycling waste materials. Rapid technological advancements such as PET bottle recycling technology in waste management practices are expected to have a positive impact on the demand in North America. Increasing population, rising urbanization, economic growth, and unsustainable consumption and production patterns are some of the factors contributing to the rise in waste generation in Central and South America.
Competitive Analysis By Major Companies
Generic strategies adopted by the companies usually include mergers & acquisitions, distribution network expansion, and product portfolio expansion. Major players in the market are vertically integrated across the supply chain, wherein they provide waste collection, transportation, and disposal services. This results in optimizing the operational cost and increasing profit margins, thereby enabling the companies to obtain a significant share in the industry. Some prominent players in the global waste management market include:
- Waste Management
- Suez
- Valicor
- Veolia
- Waste Connections
- Republic Services
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Waste Management Market Segmentation
Grand View Research has segmented the global waste management market on the basis of based on service type, waste type, and region:
- Waste Management Service Type Outlook (Revenue, USD Million, 2017 – 2030)
- Waste Management Waste Type Outlook (Revenue, USD Million, 2017 – 2030)
- Waste Management Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players in Waste Management Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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