The global waste management market size is expected to reach USD 1,413.1 billion by 2030, according to a new study by Polaris Market Research. The report “Waste Management Market Share, Size, Trends, Industry Analysis Report, By Type (Municipal Waste, Industrial Waste); By Services (Collection, Disposal); By End-User (Commercial, Industrial, Residential; By Region Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
An increase in environmental awareness, rapid industrialization, population surge, and urbanization foster industry growth. In addition, implementing stringent government norms toward open dumping is expected to fuel industry growth. The other key factors that boost the industry growth include adopting recycling techniques and developing innovative technologies and advanced garbage collection solutions to enhance collection processes.
With diverse product offerings, leading industry players such as Clean Harbors, Inc., Waste Management Inc., Suez Environment S.A., and Advanced Disposal Services seek industry growth opportunities to consolidate their position. The market is projected to exhibit notable growth by 2030. In addition, uncollected garbage and dumping are impacting health directly or directly, which is expected to increase demand for the services.
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An increase in urbanization coupled with the deterioration of the environment to support industrial development augment the demand for the services, thereby driving the market’s growth. In addition, a robust increase in municipal garbage, owing to the rapid rise in population, boosts the development of the industry.
The industrial segment is expected to witness the fastest growth, owing to the rapid industrialization and shift of industrial production from developed to developing geographical regions have resulted in enormous volumes of industrial garbage. In emerging economies, such as China, India, and other African countries, the industry’s growth is driven by massive industrialization and urbanization activities.
Waste Management Market Report Highlights
- The disposal segment is expected to grow at the highest CAGR during the forecast period. The revenue growth is driven by factors such as advancements by industry players, a rise in residential & nonresidential construction activities, a surge in urbanization rate, and an increase in environmental awareness.
- Asia Pacific is expected to grow significantly over the projected period on account of the rising adoption of various management techniques for limiting the environmental degradation in the region
- The industry is highly competitive owing to prominent players with a worldwide presence, including SUEZ, Veolia Environment, Hitachi Zosen Corporation, and BIFFA Group, among others
Polaris Market Research has segmented the waste management market report based on type, services, end-user, and region:
Waste Management, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Waste Management, Services Outlook (Revenue – USD Billion, 2018 – 2030)
Waste Management, End-User Outlook (Revenue – USD Billion, 2018 – 2030)
Waste Management, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa