Waste Management Market
The Global Waste Management Market size was valued to USD 367.73 billion in 2019, and is predicted to reach USD 715.05 billion by 2030, witnessing a CAGR of 6.1% from 2020-2030.
Waste management is the handling of waste from its generation point to its final disposal. It involves collection, transport, treatment, as well as disposal of waste, along with monitoring and regulation of waste management process. The waste management techniques differ for solid, liquid, and gaseous wastes. Besides, waste management practices are not uniform for domestic waste, industrial waste, and biological waste. The global waste management market is projected to garner a notable revenue by the year 2030.
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Top Companies: 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 others.
Europe is expected to dominate the global waste management market share during the forecast period, owing to adoption of advanced waste management technologies by management services as well as government initiatives leading to sustainable development. North America is anticipated to maintain its market share owing to the increased adoption of waste management system. Besides, technological advancement, presence of developed infrastructure, and stringent environmental policies are likely to support the growth of waste management market in this region. Asia Pacific is expected to show rapid growth with constantly developing market share owing to growing population and rapid urbanization. Supplementing the market growth in this region are the government initiatives and awareness campaigns by the public-private authorities for proper waste management; for instance the Swachh Bharat Abhiyan, cleanliness mission initiated by the government of India, are expected to fuel-up the growth chart in the future.
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The constantly multiplying population, leading to growing demand for commodities and the consequent generation of waste, are propelling the growth of global waste management market. Furthermore, factors such as rapid urbanization, industrialization, economic evolution, higher standards of living, rising concerns of health hazards, and the raising awareness towards sustainable development are to supplement the market growth over the forecast period. However, uncollected waste and its dumping tend to pose health hazards directly or indirectly. Also, insufficient facilities and lack of awareness in the developing countries regarding dumping, handling, transportation, and treatment, of waste are expected to hamper the growth of global waste management market during the forecast period.
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