Municipal Solid Waste Management Market Size, Share, Growth Analysis, By Source(Residential, Commercial, Hospitals, Offices & Institutions), By Material(Paper & Paperboard, Metals, Plastics, Food), By Region - Industry Forecast 2024-2031

Europe held the largest market share in 2022 due to its status as a high-income region with well-established solid waste treatment systems. European countries boast high waste collection rates, supported by a large presence of waste-to-energy plants, numbering over 500. Moreover, the European Union has implemented comprehensive legislation to enhance waste management and reduce greenhouse gas emissions, driving the demand for waste management services in the region. North America recorded the second-largest market share, with the United States leading in 2021 and projected to grow at a rate of 2.6% during the forecast period. The U.S. is a significant producer of solid waste and boasts an impressive waste collection rate exceeding 98%. The well-established collection, processing, and disposal methods, along with the presence of major waste management companies, including Waste Management Inc., Clean Harbors Inc., and Covanta Holdings Corporation, contribute to the country's leading position in the global market.

Asia Pacific emerged as the third-largest market in 2022 and is projected to be the fastest-growing region at a CAGR of 4.2% during the forecast period. China is the largest shareholder in the region, followed by India. Rapid industrialization and population growth in these countries are driving market growth, despite their comparatively lower waste collection rates compared to developed economies. Strict government waste treatment regulations and the high penetration of waste management systems in developed countries like Japan, South Korea, and Australia are also contributing to market expansion in the region.