Waste Management Market

Waste Management Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Waste Management Market was worth US$ 7,03,542.0 Mn and is expected to grow at a CAGR of 5.6% over the forecast period. While the historical CAGR is 5.4%, the market is expected to hit US$ 12,13,191.1 Mn by 2032 end.

The waste management process comprises collecting, transporting, and handling waste materials or rubbish. Municipal, industrial, and hazardous trash are reduced, reused, and recycled as part of waste management to address waste segregation.

Market Dynamic

STRINGENT GOVERNMENTAL REGULATIONS DRIVE THE MARKET

The creation, introduction, maturation, growth, and eventual disposal or recycling of an electronic device are all parts of its usual life cycle. Electronic products reach the recycling stage for three reasons: they have reached the end of their useful lives, technology has advanced, or consumer demands have changed.

New electronic devices and improved versions of the current products, including laptops, mobile phones, and televisions, are produced due to rapid technological breakthroughs. Similarly, as people’s purchasing power increases, electronic devices’ shelf lives shorten. New iterations of mobile phones and other electronic items are released; the previous iterations are either discarded or sold online for recycling.

Therefore, as the lifespan of electronic items gets shorter, more and more e-waste is produced. The necessity for recycling electronic items is prompted by the buildup of electronic trash, which fuels the demand for electronic waste management.

THE HIGH OPERATION COSTS HAMPER THE MARKET

It is projected that high operation and acquisition costs of waste management systems would influence the market expansion. The sector is also labor-intensive and can demand high salaries from its workers. Garbage transportation expenses are also substantial since they cover the collection and transportation of waste to landfills or recycling facilities.

COVID-19 Impact

Due to the lockdown during the COVID-19 pandemic, waste generation from the commercial and industrial sectors was reduced as companies and offices were closed entirely or partially. However, garbage in urban regions from populated areas grew. Beginning in 2021, production facilities reopen, and increasing immunization rates cause businesses in the trash recycling sector to resume operations at full capacity.

Market Segments Covered in Report

By Waste Type:

• Municipal
• Industrial
• E-waste

By Service:

• Collection
• Recycling
• Landfill
• Incineration

By Type:

• Hazardous
• Non-hazardous

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

What are the reasons for raising industrial and electronic waste?

In 2021, the industrial waste sector dominated the market by over 50.0%. The principal causes of the rising industrial waste are rapid urbanization and industrialization. Industrial waste management is necessary since improper handling of this garbage can cause damage to animals and plants as well as groundwater and lake contamination.

Over the projection period, the e-waste category is anticipated to grow at the quickest CAGR of 7.3%. Rapid technological development has led to the creation of new electronic devices and improved versions of current products, which has decreased their shelf life and increased the production of e-waste.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, Asia Pacific held the largest market share, over 48.1%. Government programs like the Swacch Bharat Abhiyan and the zero waste plans adopted by several Asia Pacific nations are anticipated to increase public awareness of trash management. The Asia Pacific market expansion is predicted to benefit from this.
• The need for trash management in North America is expected to be fueled by rising garbage creation, stringent government laws for waste management, and unlawful dumping. Furthermore, the demand in North America is anticipated to benefit from rapid technical developments, including waste management methods that recycle PET bottles.

Competition Analysis

A limited number of large-scale suppliers have most of the market share in the condensed global waste management industry. Numerous businesses invest a lot of money in thorough research and development.

Some of the key developments that have taken place in the Waste Management Market include:

• In Jul 2021, To handle the reverse logistics of medical waste, Stericycle and UPS Healthcare partnered. As a result of the agreement, numerous forms of medical waste, including biohazardous, sharps, and pharmaceutical wastes, are anticipated to be transported, treated, and disposed of.
• In June 2021, Vertex Energy sold its used motor oil collecting and re-refining assets to Clean Harbors. The agreement included a fleet of collection vans, 200 personnel, and 17 Waste Type branches strategically positioned throughout the Midwest and Gulf Coast.

A list of some of the key suppliers present in the market are:

• Veolia
• Cleanaway Waste Management Limited
• Kaiseki Co. Ltd
• Waste Connections Inc.
• Clean Harbors
• Suez
• Umicore
• ERI
• Stericycle
• Enviro-Hub group
• WM Intellectual Property Holdings L.L.C
• Augean Plc
• Reclay Group
• Others

 Global Waste Management Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies