USD 16.3 Billion
Hazardous Waste Management Market Size, Share, Growth Analysis, By Waste Type(Hazardous Waste, E-waste, Municipal Waste, Plastic Waste), By Service Type(Collection, Open Dumping, Incineration/Combustion, Landfill), By End-User(Residential, Commercial, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20L2044 |
Region:
Global |
Published Date: April, 2024
Pages:
205
|Tables:
95
|Figures:
72
Hazardous Waste Management Market Insights
Global Hazardous Waste Management Market size was valued at USD 16.3 Billion in 2022 and is poised to grow from USD 17.25 Billion in 2023 to USD 27.07 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The global hazardous waste management market is characterized by a complex interaction of dynamic factors affecting its growth and development. One of the major factors driving the growth of the market is the increasingly stringent regulatory and environmental standards imposed by governments across the globe. Increasingly aware of the negative impact of improper disposal of hazardous waste on public health and the environment, authorities are imposing, and imposing, stringent compliance requirements businesses to invest in waste management solutions. This regulatory environment not only drives demand for hazardous waste services but also innovations in waste technology to meet stringent standards.
Furthermore, rapid industrialization and urbanization worldwide contribute significantly to the rise in hazardous waste generation. Industries in manufacturing, healthcare, pharmaceuticals, and electronics are booming. Environmental concerns and demand for sustainability also help shape the global hazardous waste management market dynamics. Incentives to adopt sustainable waste management systems are increasing with growing concerns of climate change, resource depletion and pollution. Companies are increasingly embracing circular economy and recovery principles, and innovative solutions are being sought to convert waste-to-energy, recycling and material recovery.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Collection
Fastest Growth
Disposal
Growth Rate
5.8% CAGR
Global Hazardous Waste Management Market ($ Bn)
Country Share for North America Region (%)
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Hazardous Waste Management Market Segmental Analysis
Global hazardous waste management market is segmented based on waste type, service type, end-user, and region. Based on waste type, the waste management market is segmented into hazardous waste, e-waste, municipal waste, plastic waste, industrial waste, and others. Based on service type, the market is segmented into collection, open dumping, incineration/combustion, landfill, recycling. based on end user, the market is segmented into residential, commercial, industrial. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Waste Type
The industrial waste segment led the market and accounted for more than 85.9% in 2022. Rapid urbanization and technological advancement are the major factors driving the rise in industrial waste which requires management of this industrial waste because this waste this improper management contaminates lakes and groundwater and can harm wildlife and plants. According to our world data, about 7 billion people will live in cities by 2050, which is expected to increase the production of municipal waste soon. As a result, people are working from home which has made cities large scale waste increases by 2020.
The e-waste segment is expected to expand at the fastest CAGR of 7.4% during the forecast period. Rapid technological advances have led to the development of new electronic products and upgrades of existing products, reducing the shelf life and in turn increasing the production of e-waste. Waste from hospitals, clinics and diagnostic centers should be handled with appropriate waste management techniques to prevent the spread of diseases, pneumonia, tuberculosis, tetanus, whooping cough and diphtheria.
Analysis by Service Type
The collection segment led the market and accounted for more than 62.0% in 2022. Collection involves waste separation, waste loading and unloading, selection of suitable site, location search storage of waste in a minimum distance landfill, and waste management. Companies involved in waste collection should consider regular cleaning and maintenance of these storage areas. Adequate measures should be taken to prevent waste spills and leaks during waste transport. Liquid waste must be covered and must be watertight during transport. Commercial and industrial hazardous waste must be transported via suitable conveyances with specific safety features, while non-hazardous waste can be sent directly to a recycling facility.
The disposal segment is estimated to expand at the highest CAGR of 5.9% during the forecast period. There are a variety of disposal methods including recycling, incineration, composting, disposal and outdoor disposal. Proper waste disposal is essential to avoid environmental degradation and various diseases such as HIV and hepatitis in society due to proper waste disposal. Incinerators generate energy from waste, which is useful for heat and electricity generation. The waste disposal method reduces waste volume by 95%-96% based on the recovery of metallic waste from ash for recycling.
Global Hazardous Waste Management Market By Service Type (%)
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Hazardous Waste Management Market Regional Insights
North America dominated the global market due to efficient government regulations mandating waste management in many industries and the Resource Conservation and Recovery Act and Waste Hauling Regulations. These regulations are designed to improve service delivery.
Asia-Pacific has the largest market share in the waste management category. Across Asia Pacific, solid waste generation is expected to increase rapidly as more people migrate from rural areas to urban areas. Rural migration to cities and urbanization led to increased industrialization in Asia Pacific. This led to consumer spending due to constant economic growth in the region, producing waste demand for services increased. The region has been heavily influenced by highly visible effects such as plastic packaging and other materials used in the manufacture of plastic products.
Global Hazardous Waste Management Market By Geography
- Largest
- Fastest
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Hazardous Waste Management Market Dynamics
Drivers
Stricter Regulatory Framework
- Governments worldwide are imposing stringent regulations on handling and disposal of hazardous waste. Compliance with these regulations requires the adoption of advanced waste management technologies and practices, leading to a demand for specialized services provided by hazardous waste management companies.
- Increasing Environmental Concern
Increasing awareness of environmental issues, as well as recognition of the negative impact of hazardous wastes on ecosystems and human health, is leading to the search for solutions to waste management and an effective remedy. Industry stakeholders have given high priority to sustainable waste management, driving market growth.
Restraints
- Increased Initial Savings
Establishing and operating hazardous waste facilities requires a significant initial capital investment. This includes building specialized treatment facilities, purchasing advanced equipment and implementing stringent safety measures. High upfront costs can deter new entrants and restrict market expansion.
- Strict Compliances
Compliance with a growing array of regulatory frameworks presents a formidable challenge for companies engaged in hazardous waste management to meet compliance requirements, monitoring is required regular, documentation and adhere to rigid standards, which can increase operational complexity and costs.
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Hazardous Waste Management Market Competitive Landscape
The hazardous waste market is dominated by intense competition, with major players competing for market share through policies such as mergers and acquisitions, new product developments, and geographic expansion. The company boasts several recycling facilities and a strong emphasis on sustainable waste management practices.
Top Player’s Company Profiles
- Waste Management
- Suez
- Valicor
- Veolia
- Waste Connections
- Republic Services
- Biffa
- Clean Harbors
- Covanta Holding
- Daiseki
- Hitachi Zosen
- Remondis Se & Co. Kg
- Urbaser
- Fcc Environment
- Biomedical Waste Solutions
- Stericycle
Recent Developments
- In January 2022, Veolia will be delivered to the Lipor energy recovery plant near Porto, becoming one of the first e-fuel refineries in Europe and revolutionizing the energy waste industry due to its technical design and for an anticipated sophisticated system, which will also help reduce emissions from the aviation industry.
- In March 2022, Company Shop Group (or "CSG"), the largest and best-known redistributor of food and household goods surplus in the UK, was acquired by the Biffa Group.
- In May 2022, Suez signed an agreement to acquire all hazardous waste assets in France as part of Veolia’s commitment to address European Commission competition concerns.
Hazardous Waste Management Key Market Trends
- Recognition of Advanced Technologies: A key market trend in hazardous waste management is the adoption of advanced technologies to increase efficiency, safety and environmental sustainability. To produce waste efficiently treat and reduce environmental impact, companies invest in alternative cleaning processes such as thermal desorption, chemical stabilization and bioremediation Complete waste management and regulatory compliance by adding solutions together This trend of enabling underscores the industry’s commitment to continuous improvement and sustainable practices in hazardous waste management.
Hazardous Waste Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global hazardous waste management market is an important entity that ensures the collection, treatment and disposal of wastes that pose a serious threat to public health and the environment. This market is primarily regulated by its strict globally, forcing companies to adhere to improved waste management practices. Furthermore, the growing environmental concerns and increased awareness of the negative effects of hazardous waste contribute to the demand for more effective waste management solutions. However, the hazardous waste market faces several constraints, including the high initial investment required to set up and operate specialized treatment facilities. Moreover, complex regulations compliance adds operational complexity and costs for companies operating in this sector. Major players in the hazardous waste market, such as Waste Management, Inc., Veolia Environment S.A., and Clean Harbors, Inc., compete aggressively for market share through various strategies the as mergers, acquisitions, technological innovations, etc. These companies provide comprehensive waste management and use advanced technologies to ensure environmental sustainability and for waste the implementation has been successful.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.3 Billion |
| Market size value in 2031 | USD 27.07 Billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hazardous Waste Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hazardous Waste Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hazardous Waste Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hazardous Waste Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hazardous Waste Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hazardous Waste Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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