USD 889.58 billion
Waste Management Market Size, Share, Growth Analysis, By Waste Type(Non-hazardous Industrial Waste, Construction & Demolition Waste, Municipal Solid Waste, Hazardous Waste), By Disposable Method(Open Dumping, Landfill, Recycling, Incineration/Combustion), By Source(Residential (Urban, Rural), Commercial (Offices and Retail Stores, Hospitals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2139 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
95
|Figures:
76
Waste Management Market Insights
Global Waste Management Market size was valued at USD 1.29 Trillion in 2022 and is expected to grow from USD 1.36 Trillion in 2023 to USD 2.07 Trillion by 2031 at a CAGR of 5.4% during the forecast period (2024-2031).
Rapidly increasing global population is the primary factor that has resulted in increased volume of waste thereby promoting waste management demand as well. Increasing awareness among consumers, imposition of strict waste management mandates, and emphasis on improving environmental conservation are other factors that could bolster waste management market growth over the coming years. Incentives for recycling and advancements in waste recycling technologies are also expected to alter the global waste management market development trajectory across the study period. Developing countries are lacking in waste management whereas developed countries are leading the adoption of advanced waste management solutions and services. However, lack of infrastructure in developing regions, high costs of waste management operations, and community opposition are some top restraints that could impede waste management demand in the future.
US Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hazardous Waste
Fastest Growth
Hazardous Waste
Growth Rate
5.4% CAGR
Global Waste Management Market ($ Tn)
Country Share for Asia Pacific Region (%)
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Waste Management Market Segmental Analysis
The Global Waste Management Market is segmented by Waste Type, Disposable Method, Source, and region. Based on Waste Type, the market can be segmented into Non-hazardous Industrial Waste, Construction & Demolition Waste, Municipal Solid Waste, Hazardous Waste, Medical Waste, and E-waste. Based on the Disposal Method, the market is segmented into Open Dumping, Landfill, Recycling, Incineration/Combustion, Composting & Anaerobic Digestion, and Others. Based on Source, the market is segmented into Residential (Urban, Rural), Commercial (Offices and Retail Stores, Hospitals, Restaurants, Others), and Industrial (Process Industries, Construction, Renovation, And Demolition Waste, Others). Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Disposal Method
Landfills are projected to account for a substantial chunk of the global market share. Disposing of waste in landfills reduces their impact on the environment and helps provide a sorting ground for solid waste. Landfills have been around for quite a long time and their proven record for managing waste effectively whilst minimizing public health and environmental risk is what allows them to dominate the global market.
Demand for composting and anaerobic digestion disposal of waste is projected to rise at a robust pace across the forecast period. Rising emphasis on utilizing waste to energy technologies is projected to help this segment gain traction over the coming years. Moreover, advancements in waste composting and anaerobic digestion technologies will also bolster market growth in the future.
Analysis by Source
Industrial waste is projected to spearhead the demand for waste management across the study period. Rapidly increasing industrialization worldwide and increasing risk of pollution through industrial waste are driving this segment's dominance. Moreover, the imposition of strict mandates to manage industrial waste around the world is also forecasted to create new opportunities for waste management companies in the future.
Meanwhile, rapidly increasing commercial activity and growing use of commercial facilities are making commercial waste the fastest-growing segment in the market. Rising consumer awareness regarding proper waste management and adoption of corporate social responsibility initiatives by businesses is also expected to help boost market growth via this segment in the long run.
Global Waste Management Market By Source ($ Tn)
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Waste Management Market Regional Insights
The Asia-Pacific region dominates the global waste management market share owing to the presence of a massive population base and growing urbanization. Growing awareness regarding proper waste management among people in this region and the imposition of strict mandates to manage waste disposal are also expected to contribute to the region’s high market share. India and China remain at the forefront of waste management adoption owing to growing waste volumes. Launch of government initiatives and incentives to promote waste management will also augment market development potential going forward.
The demand for waste management in the North American region is slated to rise at a rapid pace over the coming years. Imposition of proper waste disposal standards and rising focus on environment conservation are primarily promoting the demand for waste management in this region. The United States is slated to be the most opportune market in this region owing to high adoption of advanced waste and recycling management technologies. Efforts to improve recycling capabilities of this region will also create new opportunities for waste management companies through 2031.
Global Waste Management Market By Region
- Largest
- Fastest
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Waste Management Market Dynamics
Drivers
Robust Urbanization
- Rapidly increasing global population has led to robust urbanization, increasing the amount of waste produced worldwide. This increased waste and rising awareness regarding hazards of ill management of the same are driving up the demand for better waste management services and solutions going forward.
Strict Environmental Regulations
Regulations surrounding waste management are becoming more and more stringent to conserve the environment and combat increasing pollution. To comply with these mandates, organizations and individuals are turning towards waste management solutions thereby driving market growth.
Restraints
Absence of Proper Infrastructure
- Waste management is not a new concept, but it is a newly adopted concept in underdeveloped and developing countries, which is why there is no adequate infrastructure to handle waste in such countries. This absence of infrastructure is slated to be a key constraint for waste management adoption in the future.
Lack of Awareness
- Most people are not aware of proper waste management practices and stick to their traditional approach which leads to a high amount of waste either being incinerated or dumped in landfills. This lack of awareness is hindering the demand for advanced waste management solutions and services around the world.
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Waste Management Market Competitive Landscape
Creating waste management solutions that are easily scalable and flexible to adapt to changes is projected to be the prime focus of waste management companies. Collaborating with the government and non-profit organizations to boost awareness regarding waste management will also be a key strategy for new and established waste management providers. Use of advanced technologies to simplify waste management and integration of recycling services with waste management will also create new business scope going forward.
Top Player’s Company Profiles
- Waste Management Inc. (US)
- Veolia Environnement S.A. (France)
- Republic Services, Inc. (US)
- Clean Harbors, Inc. (US)
- Waste Connections, Inc. (Canada)
- Stericycle, Inc. (US)
- Biffa Group Limited (UK)
- Remondis AG & Co. Kg (Germany)
- Casella Waste Systems, Inc. (US)
- Covanta Holding Corporation (US)
- FCC Environment (Spain)
- Waste Industries (US)
- Renewi plc (Netherlands)
- Hitachi Zosen Corporation (Japan)
- China Everbright International Limited (China)
- Newater Technology, Inc. (Singapore)
- GFL Environmental Inc. (Canada)
- BINGO INDUSTRIES (Australia)
- URBASER (Spain)
- DAISEKI CO., LTD (Japan)
Recent Developments
- In May 2024, a new waste management software was launched in the North American market to simplify and automate waste management operations. ISB Global was behind the launch of Waste and Recycling One (WR1) software that helps waste management operators optimize their business model.
- A new waste management project was launched in Karnataka, India, through a collaboration between Xiaomi and Stonesoup Trust in January 2024. The program was intended to promote sustainable waste management practices and help manage waste locally.
Waste Management Key Market Trends
- Circular Economy Practices: Circular economy is emerging as a major trend around the world and almost all governments and organizations are expected to turn towards this sooner or later. Crafting waste management solutions with circular economy in mind will pay off big time for market players looking to make a mark in the long run.
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.
As per SkyQuest analysis, rapidly increasing urbanization and rising emphasis on sustainability are projected to be key factors driving up the demand for waste management around the world. However, high operational costs, lack of awareness, and absence of proper infrastructure are some restraints that trouble waste management companies. The presence of a massive population base has allowed the Asia Pacific region to become the leader in the global waste management market. Industrial waste management will be the most lucrative segment for market players going forward. Incorporation of circular economy principles in waste management will offer remunerative opportunities for waste management companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.29 Trillion |
| Market size value in 2031 | USD 2.07 Trillion |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| 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 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 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 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 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 Waste Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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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