PUBLISHER: Meticulous Research | PRODUCT CODE: 1518417
PUBLISHER: Meticulous Research | PRODUCT CODE: 1518417
Waste Management Market by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling, Recycling, Incineration), and Source (Residential, Commercial, Municipal, and Industrial), and Geography-Global Forecast to 2031.
The research report titled 'Waste Management Market by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling, Recycling, Incineration), and Source (Residential, Commercial, Municipal, and Industrial), and Geography-Global Forecast to 2031' provides an in-depth analysis of global waste management market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.
The global waste management market is projected to reach $749.7 billion by 2031, at a CAGR of 5.4% from 2024 to 2031.
The growth of the waste management market is driven by stringent government regulations for waste management, increased consumer awareness about environmental protection, and the growing adoption of smart waste management technology. However, high capital investment requirements may restrain the growth of this market.
Furthermore, the technological advancements in waste management devices and initiatives for e-waste management are expected to generate growth opportunities for the stakeholders in this market. However, the lack of a proper disposable/dumping system in ASEAN markets and the high cost of recycling e-devices are major challenges impacting the growth of the waste management market. Furthermore, advancements in waste-to-energy technology and the adoption of intelligent waste management solutions are prominent trends in the waste management market.
The waste management market is segmented by waste type (hazardous waste, industrial waste, municipal solid waste, e-waste, plastic waste, biomedical waste, other waste), waste management method (landfilling, recycling, incineration, biological reprocessing, waste-to-energy, other waste management methods), source (residential, commercial, municipal, industrial (food & beverage, automotive, semiconductor & electronics, BFSI, aerospace & defense, machinery & metal, pharmaceutical, other industries). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on waste type, the waste management market is segmented into hazardous waste, industrial waste, municipal solid waste, e-waste, plastic waste, biomedical waste, and other waste. In 2024, the hazardous waste segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth and the subsequent increase in the demand for goods and services, increased international trade in chemical products, and a rise in hazardous components within household waste.
However, the e-waste segment is projected to register the highest CAGR during the forecast period. Rapid technological advancements have resulted in new electronic products and upgraded versions of existing products, reducing their shelf life and increasing e-waste generation. These factors are expected to drive the growth of this segment.
Based on waste management method, the waste management market is segmented into landfilling, recycling, incineration, biological reprocessing, waste-to-energy, and other waste management methods. In 2024, the landfilling segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to the rising awareness of proper waste disposal practices and the utilization of well-engineered landfill facilities. These facilities are designed to manage waste effectively, ensuring environmental protection by preventing contamination. Moreover, modern landfills are strategically located and equipped with on-site environmental monitoring systems to safeguard public health.
However, the recycling segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing focus on environmental protection and the numerous benefits of recycling waste. Recycling reduces the need to grow, harvest, or extract new raw materials, leading to the conservation of natural resources. Additionally, it plays a crucial role in reducing carbon dioxide and other greenhouse gases emitted into the atmosphere.
Based on source, the waste management market is segmented into residential, commercial, municipal, and industrial. The industrial segment is further sub-segmented into food & beverage, automotive, semiconductor & electronics, BFSI, aerospace & defense, machinery & metal, pharmaceutical, and other industries. In 2024, the residential segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth, rural and urban development, lifestyle changes, and the consequent change in household consumption patterns.
However, the residential segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by population growth, rural and urban development, evolving lifestyles, and changes in household consumption patterns.
Based on geography, the waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the waste management market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's major market share is attributed to rapid technological advancements in waste management and government initiatives towards the zero waste plan in several Asia-Pacific countries. These initiatives are likely to boost awareness regarding waste management and have a positive impact on the market growth in the region.
The key players operating in the waste management market are Advanced Disposal Services, Inc. (U.S.), Biffa Group (U.K.), Clean Harbors, Inc. (U.S.), Covanta Holding Corporation (U.S.), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Suez Environment S.A (France), Veolia Environment S.A (France), Waste Management Inc. (U.S.), Republic Services, Inc. (U.S.), Waste Connections, Inc. (U.S.), GFL Environmental Inc. (U.S.), Stericycle, Inc. (U.S.), Casella Waste Systems, Inc. (U.S.), and Bingo Industries Limited (Australia).
Waste Management Market Assessment-by Waste Type
Waste Management Market Assessment-by Waste Management Method
Waste Management Market Assessment-by Source
Waste Management Market Assessment-by Geography
(Note: SWOT Analysis of the Top 5 Companies will be provided)