Waste Management Market is poised to grow at a CAGR of over 5.1% during the forecast period of (2021-2030)
Constant growth in urbanization & industrialization linked with large population base followed by stringent environmental polices along with rising awareness among people are expected to drive the growth of waste management industry during the forecast period of 2021-2030.
The Waste Management Market is expected to grow at the CAGR of 5.1% from 2021-2030, according to a new research report by Next Move Strategy Consulting.
Waste management refers to the collection, processing & disposable of all kinds of waste on a large scale. Waste management is an important process as if it is not taken care for it can lead to severe environmental issues & it can be hazardous for human beings. Some of the items from the waste can be recycled & reused as per regulations which can reduce the burden on environment as well as also led to the reduction in waste.
According to the report, constant growth in the population led to the further growth in urbanization & industrialization are the major factors driving the market growth. There has been constant growth in the waste generation from different sources such as municipal, medical and other waste along with the hazardous effects of waste on health. In addition, rising technological advancement as well as presence of developed infrastructure is also expected to contribute the market growth. On the other hand rising environmental concerns along with stringent regulatory policies for protection of environment are also expected to anticipate the market growth. Moreover, rising government initiatives in the developing economies may tends to bring change in market trend in the near future.
However, mishandling of waste as well as poor management in the developing economies may hamper the market growth. Moreover, growth in government initiatives to promote awareness along with further development of waste disposal system is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of waste types, the waste management market share is segmented into municipal waste, industrial waste, and hazardous waste. Municipal waste segment dominates the global waste management market in terms of market share & growth rate and will be the dominant during the forecasted period.
On the basis of service, the waste management market is categorised into collection and disposable. Disposable segment holds the major market share in 2017, and likely to maintain its dominance over the forecast period owing to the landfills, recycling & others.
North America is likely to account for the highest market size & share of the waste management market in the forecast period 2021–2030 owing to the presence of technological advancement along with the presence of developed infrastructure as well as stringent regulatory policies. Europe accounts for the second leading position in the waste management market size. Asia Pacific is expected to be the fastest developing region in the waste management market which is majorly driven by presence of large population base accompanied by the growth in urbanization & industrialization in the region. In addition, rising awareness among people followed by growing in government initiatives for proper waste disposal is likely to enhance the market growth.
According to the report, some the key players in the waste management market are Biffa Group, Advanced Disposal Services, Covanta Holding Corporation, Clean Harbors, Inc., Hitachi Zosen Corporation, Daiseki Co. Ltd., Suez Environment S.A., Remondis AG & Co. Kg, Waste Management Inc. and Veolia Environment S.A.
Browse key industry insights from the report at https://www.nextmsc.com/report/waste-management-market in detail along with the table of contents:
Key Insights from the Waste Management Market Report:
- Asia Pacific is the fastest growing Waste Management market owing to the large population base followed by growing urbanization & industrialization activities in the region along with government initiatives.
- The municipal waste segment dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Biffa Group, Advanced Disposal Services, Covanta Holding Corporation, Clean Harbors, Inc., Hitachi Zosen Corporation, Daiseki Co. Ltd., Suez Environment S.A., Remondis AG & Co. Kg, Waste Management Inc. and Veolia Environment S.A.
The report Waste Management market – segmented by waste type, service and geography
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