PUBLISHER: The Business Research Company | PRODUCT CODE: 1513251
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513251
Solid waste management involves the systematic collection, transportation, treatment, and disposal of solid waste produced by human activities. It encompasses the implementation of strategies and practices to minimize the adverse environmental and public health impacts of solid waste. The goal of solid waste management is to reduce landfill waste through recycling, composting, and waste-to-energy processes, ensuring proper disposal of residual waste to mitigate pollution and safeguard human health and the environment.
The primary types of solid waste managed are municipal and industrial. Municipal solid waste comprises garbage and discarded materials generated by households, businesses, and institutions within urban areas. These waste materials include paper, plastic, metals, food, textiles, and others. Various services involved in solid waste management include open dumping, incineration or combustion, landfilling, recycling, composting, and anaerobic digestion. End-users of solid waste management services encompass residential, commercial, and industrial sectors.
The solid waste management market research report is one of a series of new reports from The Business Research Company that provides solid waste management market statistics, including the solid waste management industry global market size, regional shares, competitors with a solid waste management market share, detailed solid waste management market segments, market trends and opportunities, and any further data you may need to thrive in the solid waste management industry. This solid waste management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The solid waste management market size has grown steadily in recent years. It will grow from $301.31 billion in 2023 to $314.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth can be attributed to the adoption of sustainable waste management practices, the utilization of waste as a renewable energy source, increasing concerns about public health, economic growth, and urbanization.
The solid waste management market size is expected to see steady growth in the next few years. It will grow to $379.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth in the forecast period can be credited to climate change mitigation efforts, regulatory compliance requirements, rising industrialization, the proliferation of smart city constructions, and ongoing climate change mitigation efforts. Key trends expected in the forecast period include the development of bio-based alternatives, advancements in technology, the adoption of waste-to-energy technologies, the promotion of public-private partnerships, and the implementation of smart waste management systems.
The increasing concerns about the environment are expected to drive the expansion of the solid waste management market in the foreseeable future. Environmental concern entails an awareness and consideration for the health of the natural world and its ecosystems, spurred by factors such as extreme weather events, heightened awareness of climate change, and the impact of human activities on the environment. Effective solid waste management plays a crucial role in mitigating environmental pollution, conserving resources, reducing greenhouse gas emissions, safeguarding ecosystems, promoting principles of a circular economy, and enhancing public health. For instance, in May 2024, Environment and Climate Change Canada reported that Canada's total greenhouse gas emissions in 2022 were 708 megatons (Mt CO2 eq), marking a 1.3% increase from 2021. Moreover, according to the Office for National Statistics in November 2021, approximately 75% of adults in Great Britain expressed concerns about the effects of climate change. Consequently, mounting environmental concerns are spurring the growth of the solid waste management market.
Leading companies in the solid waste management market are focusing on developing technologically advanced solutions, such as waste sorting robots, to enhance the efficiency and accuracy of waste sorting processes, boost recycling rates, and encourage sustainable waste management practices. Waste sorting robots are robotic systems engineered to automate the sorting and segregation of various types of waste materials. For example, in February 2024, ZenRobotics, a Finland-based supplier of intelligent sorting robots for the waste industry, introduced ZenRobotics 4.0, the fourth generation of waste sorting robots. This latest iteration integrates new features and advanced artificial intelligence (AI) capabilities to optimize and enhance the efficiency of waste sorting operations, representing a significant advancement in waste sorting technology.
In August 2023, Cards Holdings LLC, a US-based solid waste collection company, acquired Trash Hog LLC for an undisclosed sum. Through this acquisition, Cards Holdings LLC aims to strengthen its presence and capabilities in the waste management industry by integrating Trash Hog LLC into its portfolio. This strategic move is expected to enhance service offerings, expand market share, and reinforce its competitive position. Trash Hog LLC is a US-based solid waste collection company.
Major companies operating in the solid waste management market are Veolia Environment S.A., Waste Management Inc., Republic Services Inc., Remondis AG & Co. Kg, Rethmann AG & Co KG, SUEZ Group, Waste Connections Inc., GFL Environmental Inc., Clean Harbors Inc., Hitachi Zosen Corporation, Stericycle Inc., Paprec Group, Cleanaway Waste Management Limited, Renewi plc, Covanta Holdings Corporation, Biffa Limited, Advanced Disposal Services Inc., Biffa Group PLC, Recology, Waste Pro USA, Casella Waste Systems Inc., FCC Environment Limited, Viridor Limited, Urbaser SAU, ALBA Group, Envac Group, Keppel Seghers, TANA Oy
North America was the largest region in the solid waste management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the solid waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solid waste management market includes revenues earned by entities by providing services such as waste collection, waste treatment, and waste disposal. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solid Waste Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solid waste management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solid waste management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solid waste management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.