The size of the worldwide waste management market was worth $ 2,080.2 billion in 2020 and is predicted to reach $ 2,339.3 billion by 2025, recording a CAGR of 5.2% from 2020 to 2025. Management Waste is collection, transportation and disposal of garbage, sewage and other debris. It is about treating solid waste and removing unwanted products and substances safely and efficiently. The worldwide waste management market is predicted to grow rapidly due to growing waste management concerns around the world. The growing challenges related to waste that is not disposed of can further fuel market expansion during the foreseen period. The increase in purchasing power of consumers, which translates into a growing preference for newer products, has led to the scrapping of usable products early, leading to further waste. In addition, the increase in pollution due to the increase in the amount of waste not disposed of is predicted to drive expansion in the market. The increasing amount of hazardous waste emitted by industries from different sectors, such as pharmaceuticals and healthcare, is predicted to fuel the expansion of the market during the foreseen period. Waste management systems provide solutions for the treatment of organic and inorganic waste.
Market drivers and restraints:
The increasing population have led to an increase in the worldwide volume of waste, worldwide. The urban population produced around 1.8 billion tons of municipal solid waste (MSW) in 2020, which is predicted to reach 2.5 billion tons in 2025. These factors are predicted to contribute significantly to the expansion of the worldwide market. However, the high cost of purchasing and operating waste management solutions is predicted to hamper the expansion of the worldwide waste management market. Rather, the increased awareness of public and government agencies about these solutions and the growing need to develop waste-to-energy solutions are predicted to provide lucrative expansion opportunities for market players during the foreseen period. Due to these opportunities, various waste management companies have adopted strategies such as business expansion, acquisitions, agreements and partnerships to offer better services to the market. Growing energy needs and growing production activities have led to solid expansion in this sector. So many firms are highly funding the advancement of waste management systems worldwide.
To know more, click on the link below:
Report segmented as:
- municipal waste
- industrial waste
- hazardous waste
- collection services
- disposable services
Europe and North America are predicted to represent a significant market share due to infrastructure development and the increasing number of government regulations requiring waste management in various industries. Asia Pacific can also help in market expansion due to the growing government awareness and ambitions for efficient waste disposal. Countries like India, China, and Brazil are offered financial advantages to accept waste from developed countries like the United States and the United Kingdom.
Important market players:
The significant players operating in the waste management industry are Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environnment, and Waste Management Inc.
View a sample and decide:
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
For more information:
Sales Manager at Market Data Forecast