Analysis of the Waste Management Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global Waste Management Market by Type (Municipal Solid Waste, E-Waste, Industrial Waste, Biomedical, and Other Waste), by Service (Collection, Processing, and Disposal), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - Energy & Power
Report Code - OMR-EP-269
Format: PDF, PPT, and Excel
Waste Management Market Overview
Garbage, sewage, and other forms of trash must be managed to be removed from public areas and disposed of properly. It entails getting rid of trash and waste items securely and effectively. Waste management encompasses all forms of solid, liquid, or gas waste. Municipal, industrial, and hazardous garbage are all managed under the umbrella of waste management. The term "municipal waste" is commonly used to describe both household trash and non-hazardous trash produced in urban areas. Industrial waste is commonly used to describe the garbage left behind by factories and other commercial establishments. The pharmaceutical, medical, chemical, and paint production sectors produce hazardous waste. The Resource Conservation and Recovery Act and the Waste Shipment Regulation are two examples of strict government regulations anticipated to push the market. During the COVID-19 epidemic, commercial and industrial waste output fell because of the lockdown as industries and offices closed permanently or temporarily. However, household garbage in the city grew. Starting in early 2021, due to increased vaccination rates, businesses will again be able to operate at their full capacity in the waste recycling industry. Various trash disposal methods and procedures have emerged due to a growing worldwide awareness of the need for effective waste disposal in protecting animal and human health. Garbage management firms must promptly dispose of or recycle garbage because of potentially harmful chemicals, such as metals and salts.
Waste Management Market Growth Factors
Smart Waste Management to Dispose of Market of Residual Factors that Can Harm Growth
A new technical trend has emerged, initiated by introducing smart waste management services. The resources needed for routine trash collection are substantial, and the routes are set in stone. The result is often the wasteful use of scarce resources. To better manage the trash collection process, determine garbage filling trends, optimize the driver schedule, and lower operating costs, new technologies based on the Internet of Things (IoT) are being developed. IoT-based garbage collection bins are also anticipated to be a smart, practical solution for waste management as the price of sensors continues to drop. Rapid economic growth, widespread urbanization, and a growing human population have all contributed to materially intense increases in resource use and the resulting pollution of natural ecosystems. From a global perspective, the existing system for managing waste and resources is missing a comprehensive strategy that considers every step of the manufacturing process, from initial concept to final disposal. The market is expanding due to a lack of suitable land for garbage disposal and an emphasis on energy and resource recovery.
Rising Awareness Regarding Waste Management Among General Population to Augment Growth
The world's population in cities was 34% in 1960, suggesting room for expansion. According to the World Health Organization's projections, the world's urban population will increase by 1.84 percent per year until 2020, 1.63 percent from 2020 to 2025, and 1.44 percent from 2025 to 2030. The World Bank reports that municipal solid waste (MSW), an essential byproduct of urban lifestyle, is increasing faster than urbanization. The World Bank said in 2018 that worldwide municipal solid waste production in 2016 amounted to 2.1 billion tons, projected to rise to almost 3.40 billion tons by 2050. Islands have the greatest disposal rates per capita, most likely because of the large amounts of trash they collect from visitors. In addition, the rise in CO2 emissions worldwide and the rising environmental consciousness of the general public are predicted to create development prospects for the waste management systems market. The management industry has made strides to minimize pollution and alleviate environmental concerns by recycling municipal solid waste and non-hazardous industrial garbage. The expansion of disease-carrying vectors due to improper waste management and dumping also increases the demand for management services.
Waste Management Industry Segmentation
Type
• Municipal Waste
• E-Waste
• Industrial Waste
• Biomedical
• Other Waste
Service
• Collection
• Processing
• Disposal
Waste Management Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
Type Insights
Municipal Waste to Dominate Global Segmentation Owing to Rapid Urbanization and Industrialization
Based on type, the market can be differentiated between municipal waste, e-waste, industrial waste, biomedical, and other waste.
Municipal waste will occupy the dominant share during the forecast period. Increasing amounts of industrial waste can be attributed to rapid urbanization and industrialization. Because improper disposal of industrial trash can pollute lakes and groundwater and harm animals and plants, this garbage must be managed. Manufacturers are responsible for correctly disposing of industrial waste due to government-imposed strict rules. The necessity for effective waste management services rises as a result of this. Furthermore, the need for efficient industrial waste management services is fueled by the increasing significance of material recycling and circular economy in achieving sustainable goals.
Organic materials, paper, plastic, glass and metal, and miscellaneous garbage comprise municipal garbage. Opportunities for this market to expand are expected to arise as urbanization increases worldwide. Over 55% of the world's population lived in urban areas in 2018. This figure is predicted to climb up to 68% by the end of 2050, according to a study of the United Nations 2018 Revision of the World Urbanization Prospects.
Regional Insights
North America to Produce Largest Market Hold Owing to Supportive Infrastructure
The market can be split across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa based on regional split.
In 2022, the European market was the largest. Most European countries have developed solid waste treatment infrastructure because they have high per capita incomes. As a result, Europe has a very high rate of garbage collection on average. The proliferation of waste-to-energy facilities is another factor propelling expansion in this industry. In Europe, more than 500 facilities convert the garbage into electricity. In addition, the European Union has, over time, enacted extensive rules to enhance waste management and cut down on emissions of greenhouse gases. The need for waste management services in Europe has increased due to this.
The North American region accounted for the world's second-largest market share. The United States is expected to maintain its dominant position in North America and expand its lead throughout the projection period. The U.S. is one of the world's leading generators of solid garbage. The percentage of garbage pickup is above 98%. The United States is expected to dominate the worldwide market throughout the forecast period due to its advanced trash collection, processing, and disposal infrastructure and the prevalence of significant waste management businesses like Trash Management Inc., Clean Harbors Inc., and Covanta Holdings Corporation.
The Asia-Pacific region accounted for the third-largest global market share that year. China is the region's major investor, followed by India. China and India's fast industrialization and population expansion drive the market's growth there, despite their garbage collection rate being lower than that of industrialized nations. As stated by the United Nations, China, and India comprise more than 37% of the global population. China and India are home to over 1.4 and 1.3 billion people, respectively.
Waste Management Industry Analysis
Providers in developed economies analyze cash flows and estimate the cash requirements for various automated teller machines. Businesses use mergers and acquisitions to increase their product offerings and worldwide footprints to exploit economies of scale.
The worldwide secure logistics market is very competitive because of the abundance of international, national, and regional players. A handful of large international companies dominate the market. Global players concentrate on inorganic development methods, creating distinctive offerings by investing heavily in cutting-edge technology to preserve their competitive edge.
Waste Management Market Recent Developments
• In May 2021, Eramet announced cooperation with SUEZ to enhance cooperative efforts in recycling end-of-life electric car batteries in the market. This agreement will present a high-implementation, cheap and practical battery recycling solution for the European market. Furthermore, Veolia cooperated with Groupe Renault in March 2021 to strengthen the European economy with EV battery metals through closed-loop recycling.
• In February 2021, the Biffa business has acquired the Company Shop business ('CSG'), the largest and most prominent redistributor of excess food and home goods in the United Kingdom.
Global Waste Management Market Prominent Players
• Waste Management Inc. (U.S.)
• Clean Harbors Inc. (U.S.)
• Veolia Environment S.A. (France)
• Hitachi Zosen Corporation (Japan)
• Remondis AG & Co. Kg (Germany)
• SUEZ Group (France)
• Biffa PLC (U.K.)
• Advanced Disposal Services Inc. (U.S.)
• TANA Oy (Finland)
• Envac Group (Sweden)
• Recology (U.S.)
• Stericycle Inc. (U.S.)
• Republic Services Inc. (U.S.)
Frequently Asked Questions (FAQs)
At what rate will the Waste Management Market Expand?
According to Objective Market Research, throughout the forecast period, the waste management industry would expand at a CAGR of 3.7%.
What are the factors driving the global Waste Management Market?
The global waste management market is estimated to be extremely popular. It will grow at an expanding rate owing to the increasing production of e-waste and the growing adoption of construction and demolition materials within urban areas.
Which segment accounted for the largest Waste Management Market share by service?
The collection segment will account for the largest market share during the forecast period. The collection subsector dominated the market. The waste collection entails sorting refuse, loading and unloading garbage trucks, locating a location to store garbage as near as feasible to where garbage is generated, and administering garbage storage facilities.
What region holds the major share in the global market scape?
The region of Europe is expected to dominate the global market during the forecast period. Because of their high per capita revenues, most European nations have developed solid waste treatment infrastructure. As a consequence, the typical rate of garbage collection in Europe is exceptionally high.
Which are the dominating players in the market during the forecast period?
Some market leaders in the global waste management market are Waste Management Inc. (U.S.), Clean Harbors Inc. (U.S.), Veolia Environment S.A. (France), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), and SUEZ Group (France), among others.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1. Drivers
4.1.1.1. Rising Amount of Municipal Waste
4.1.1.2. Increased Awareness Regarding Waste
4.1.2. Restrain
4.1.2.1. Intricate and Time-Consuming Process
4.1.3. Opportunities
4.1.3.1. Strong Government Focus on Clean Initiatives
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global Waste Management Market Analysis & Forecast, by Type from 2019-2030 (in USD million)
5.1. Municipal Waste
5.2. E-Waste
5.3. Industrial Waste
5.4. Biomedical
5.5. Other Waste
6. Global Waste Management Market Analysis & Forecast, by Service from 2019-2030 (in USD million)
6.1. Collection
6.2. Processing
6.3. Recycling
6.4. Composting
6.5. Disposal
6.6. Landfill
6.7. Incineration
7. Global Waste Management Market Analysis & Forecast, by Region from 2019-2030 (in USD million)
7.1. North America
7.1.1. North America Waste Management Market Analysis & Forecast, By Country
7.1.1.1. U.S.
7.1.1.2. Canada
7.1.1.3. Mexico
7.1.2. North America Waste Management Market Analysis & Forecast, By Type
7.1.3. North America Waste Management Market Analysis & Forecast, By Service
7.2. Europe
7.2.1. Europe Waste Management Market Analysis & Forecast, By Country
7.2.1.1. Germany
7.2.1.2. UK
7.2.1.3. France
7.2.1.4. Spain
7.2.1.5. Italy
7.2.1.6. Rest of Europe (RoE)
7.2.2. Europe Waste Management Market Analysis & Forecast, By Type
7.2.3. Europe Waste Management Market Analysis & Forecast, By Service
7.3. Asia-Pacific (APAC)
7.3.1. Asia-Pacific Waste Management Market Analysis & Forecast, By Country
7.3.1.1. Japan
7.3.1.2. China
7.3.1.3. India
7.3.1.4. South Korea
7.3.1.5. Rest of the APAC
7.3.2. Asia-Pacific Waste Management Market Analysis & Forecast, By Type
7.3.3. Asia-Pacific Waste Management Market Analysis & Forecast, By Service
7.4. Latin America
7.4.1. Latin America Waste Management Market Analysis & Forecast, By Country/Region
7.4.1.1. Argentina
7.4.1.2. Brazil
7.4.1.3. Rest of Latin America
7.4.2. Latin America Waste Management Market Analysis & Forecast, By Type
7.4.3. Latin America Waste Management Market Analysis & Forecast, By Service
7.5. Middle East & Africa
7.5.1. Middle East & Africa Waste Management Market Analysis & Forecast, By Country/Region
7.5.1.1. South Africa
7.5.1.2. UAE
7.5.1.3. Saudi Arabia
7.5.1.4. Rest of Middle East & Africa
7.5.2. Middle East & Africa Waste Management Market Analysis & Forecast, By Type
7.5.3. Middle East & Africa Waste Management Market Analysis & Forecast, By Service
8. Competitive Landscape
8.1. Market Share Analysis (2022)
8.2. Market Positioning of Top Players (2022)
8.3. Key Developments & Growth Strategies (2020-2022)
8.3.1. Product Launches
8.3.2. Merges, Collaborations & Agreements
8.3.3. Expansion
8.4. SWOT Analysis
9. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
9.1. Waste Management Inc. (USA)
9.1.1. Company Snapshot
9.1.2. Business Overview
9.1.3. Financial Data
9.1.4. Key Products Offered
9.1.5. Recent Developments
9.2. Clean Harbors Inc. (USA)
9.3. Veolia Environment S.A. (France)
9.4. Hitachi Zosen Corporation (Japan)
9.5. Remondis AG & Co. Kg (Germany)
9.6. SUEZ Group (France)
9.7. Biffa PLC (U.K.)
9.8. Advanced Disposal Services Inc. (USA)
9.9. TANA Oy (Finland)
9.10. Envac Group (Sweden)
9.11. Recology (USA)
9.12. Stericycle Inc. (USA)
9.13. Republic Services Inc. (USA)
9.14. Others
10. Appendix
10.1. Currency Exchange Rate to USD
10.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain