The global solid waste management market size is projected to gain traction on account of the increasing amount of waste generation, further attributed to the contributions of the residential, commercial, and industrial sectors. Solid waste majorly includes waste plastic products, organic matter, and metal and glass products. As per a recent report by Fortune Business Insights.
The solid waste management market refers to the business of collecting, transporting, processing, and disposing of solid waste, including residential, commercial, and industrial waste. The management of solid waste is becoming an increasingly important issue around the world as urbanization and industrialization continue to generate significant amounts of waste. The market for solid waste management includes a wide range of services and products, such as waste collection and transportation, waste treatment and disposal, recycling, and composting.
Growth Projections:
The global solid waste management market size was USD 285.16 billion in 2019 and is projected to reach USD 366.52 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period.
Companies Covered in the Solid Waste Management Market Report by Fortune Business Insights™:
TANA Oy (Finland)
ALBA Group (Germany)
Stericycle Inc. (USA)
Remondis AG & Co. Kg (Germany)
Covanta Holdings Corporation (USA)
Biffa PLC (U.K.)
SUEZ Group (France)
Envac Group (Sweden)
Recology (USA)
Advanced Disposal Services, Inc. (USA)
Republic Services Inc. (USA)
Hitachi Zosen Corporation (Japan)
Clean Harbors Inc. (USA)
Veolia Environment S.A. (France)
Waste Management Inc. (USA)
Other vendors
The global solid waste management market size was USD 285.16 billion in 2019 and is projected to reach USD 366.52 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period.
Drivers & Restraints-
There are several drivers and restraints that affect the solid waste management market. Some of the key drivers of the market include:
Increasing urbanization: With more people moving to cities and urban areas, the amount of solid waste generated is also increasing, leading to a greater demand for waste management services.
Government regulations and policies: Governments around the world are enacting stricter regulations and policies to reduce waste and increase recycling, which is driving the growth of the solid waste management market.
Growing awareness of environmental issues: As more people become aware of the environmental impact of waste, there is a greater demand for sustainable waste management practices.
Advancements in waste treatment technologies: New technologies are being developed that can more efficiently and effectively treat waste, leading to greater opportunities in the waste management market.
However, there are also several restraints that may impact the growth of the solid waste management market, including:
High costs: Waste management services can be expensive, particularly for small and medium-sized businesses, which may limit the demand for these services.
Limited infrastructure: In many regions, there is limited infrastructure for waste management, which can make it difficult to collect and dispose of waste.
Lack of public participation: Without the participation of the general public in waste reduction and recycling efforts, it can be difficult to achieve meaningful progress in waste management.
Health and safety concerns: Waste management can pose health and safety risks to workers and the general public if not managed properly, which can lead to increased regulations and costs.
Segment-
As well as providing an overview of successful marketing strategies, market contributions, and recent developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Solid Waste Management Market.
Regional Analysis-
Regionally, Europe generated USD 90.03 billion in 2019 and earned the highest solid waste management market share. This is attributable to the extensive collection of waste and the presence of more than 500 waste-to-energy plants all over the region. Comprehensive legislations are laid by the European Union for controlling greenhouse gas emissions and improving the waste management system in the region, thereby aiding to the dominance. However, North America may emerge dominant in the forecast period on account of the well-established collection, processing, and disposal methods, coupled with presence of large players such as Clean Harbors Inc., Waste Management, and others in this region.
On the other side, Asia Pacific is likely to showcase the fastest growth rate and report a CAGR of 4.2% during the forecast period. China is expected to emerge as the largest shareholder in the market, followed closely by India. This is owing to the rapid industrialization, urbanization and the increasing population.
Competitive Landscape-
Major companies operating in this market are engaging in adopting smart waste management services to make their mark in the competition. Besides this, they are also engaging in the construction of new energy-from-waste facilities for sustainable waste management solutions, thereby gaining a significant position in the market and gather more revenue in the coming years.
Key Industry Developments of the Market include:
Increased focus on recycling and waste reduction: Governments and companies around the world are increasing their efforts to reduce waste and increase recycling. For example, the European Union has set a target of recycling 65% of municipal waste by 2035.
Emergence of new technologies: New technologies are being developed to more efficiently and sustainably manage waste. For example, companies are developing new recycling technologies that can process difficult-to-recycle materials, such as plastic film and multi-layer packaging. There is also increasing interest in waste-to-energy technologies, which can generate electricity from waste.
Major Points from Table of Contents:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends in Global Market
Latest Technological Advancements
Insights on Regulatory Scenario
Porters Five Forces Analysis
Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
Global Solid Waste Management Market Analysis, Insights and Forecast – By Waste Type, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Waste Type
Industrial Waste
Municipal Waste
Organic Matter
Paper
Plastic
Glass & Metal
Others
Global Solid Waste Management Market Analysis, Insights and Forecast – By Treatment Method, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Treatment Method
Collection
Processing
Recycling
Composting
Disposal
Landfilling & Open Dump
Incineration
Global Solid Waste Management Market Analysis, Insights and Forecast – By Region, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Solid Waste Management Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis – By Waste Type
Industrial Waste
Municipal Waste
Organic Matter
Paper
Plastic
Glass & Metal
Others
Source: EIN NewsWire