Waste Management Market to increase by USD 167.1 billion during 2022-2027 | Laws in Europe for recycling waste to drive the growth - Technavio

NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The waste management market size is expected to grow by USD 167.1 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.25% during the forecast period. The market is segmented by End-user (Residential, Commercial, and Industrial), service type (landfill, open dumping, incineration, recycling, and composting and anaerobic digestion), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). The laws in Europe for recycling waste drive the waste management market growth. This growth is due to the strict environmental rules that are implemented by governments of various countries and the Horizon 2020 project. Furthermore, the European market is considered to be the leader in composites recycling. Recent significant developments have led to a societal and technological drive to develop sustainable solutions for recycling composites. The composite material will play an important role in various sectors, such as the wind energy sector, aerospace, automotive, construction, and marine industries. Hence, such factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the waste management market: Bertin Technologies SAS, Biffa Plc, Clean Harbors Inc., Covanta Holding Corp., Daiseki Co. Ltd., FCC SA, Republic Services Inc., RETHMANN SE and Co. KG, SAAHAS WASTE MANAGEMENT Pvt. Ltd., Stericycle Inc., SUEZ SA, Veolia Environnement SA, Waste Connections Inc., Waste Management Inc., GEPIL, Hasiru Dala Innovations Pvt. Ltd., HFCL Ltd., Hitachi Zosen Corp., URBASER SA, and Valicor Inc.
• Waste Management Market is fragmented in nature.
• Market to observe 6.97% YOY growth in 2023.

Market Dynamics:

Trend

• Increasing demand for renewable cleaning is an emerging trend shaping the market.
• The main aim is to minimize the damage to the environment, thus leading to improving the quality of performance and cutting costs.
• Consequently, renewable or green cleaning has entered the cleaning industry. Water cleaning, high-flow fluid extraction, and steam vapor technology are the green cleaning processes that are used in industry.
• Furthermore, improving health and safety inside an industrial building reduces storage, purchase, and disposal costs and simplifies the use and cleaning operations are some of the various advantages of renewable cleaning.
• Hence, such trends are expected to drive the market growth during the forecast period.

Challenge

• Huge capital investment to discard biomedical waste challenges the waste management market growth. 
• This is because of the biomedical waste discharged from the healthcare industry, which includes infectious, toxic, and radioactive materials and sharp hypodermic needles, knives, and scalpels.
• Such biomedical wastes are hazardous and toxic parts of waste. Furthermore, the treatment process for this kind of waste is very difficult as it requires high capital investment, a high-quality waste treatment unit, and a management facility, along with recruiting a skilled workforce.
• Hence, factors like the huge capital investment for biomedical waste management are expected to restrict the growth of the market during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The residential segment is significant during the forecast period. It refers to the households and individuals generating waste. It is also called municipal solid waste (MSW) and includes a wide range of materials and products that are used and discarded daily. For instance, the global population is projected to reach 10 billion by 2050 as per UN statistics. This further emphasizes the importance of effective waste management strategies to ensure proper collection, transportation, and disposal or recycling of residential waste. Hence, such factors fuel the residential segment of the waste management market during the forecast period. Get a glance at the market contribution of the segments, Request a Sample

The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million. This report extensively covers market segmentation by material (metals and chemicals, plastic, and glass), source (household appliances, entertainment, consumer electronics, IT and telecom, medical equipment, and others), and geography ( Europe, APAC, North America, South America, and Middle East and Africa). An increase in industrial activities globally drives market growth.

The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion. This report extensively covers market segmentation by method (landfill, recycling, and incineration), service (processing, collection and transportation, disposal and landfill, sorting, and storage), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). Growing awareness for wet waste management and recycling drives market growth.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Service Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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