Who are the key vendors in the Waste Management Market?

The major competitors in the market offer services for waste collection, transportation, and disposal by integration throughout the supply chain. As a result, operational costs are optimized, profit margins are raised, and the companies are capable of capturing a large share of the market. 'Waste Management Inc.', 'Veolia Environnement S.A.', 'SUEZ Environment S.A.', 'Republic Services, Inc.', 'Clean Harbors, Inc.', 'Waste Connections, Inc.', 'Stericycle, Inc.', 'Biffa Group Limited', 'Remondis AG & Co. Kg', 'Advanced Disposal Services, Inc.', 'Casella Waste Systems, Inc.', 'Covanta Holding Corporation', 'FCC Environment', 'Waste Industries', 'Renewi plc', 'Progressive Waste Solutions Ltd.', 'Hitachi Zosen Corporation', 'China Everbright International Limited', 'Newater Technology, Inc.', 'GFL Environmental Inc.'

What is the key driver of Waste Management Market?

Governments all over the world are taking positive steps to collect, transport, and recycle waste, so demand for waste management solutions is expected to increase.

What is the key market trend for Waste Management Market?

The management of construction and demolition waste involves a variety of tasks, including monitoring, collecting, transporting, recycling, and disposing of the waste produced during the construction, refurbishment, or demolition of structures or other infrastructure. During construction activities, it aids in the reduction and reuse waste materials including concrete, dirt, wood, glass, plastic, cardboard, and metal. Construction and demolition waste are inert, heavy, and non-biodegradable waste, in contrast to residential waste. So, before these materials can be reused or decomposed, regulatory authorities want commercial facilities for sorting, processing, and filtering these. Global demand for construction and demolition waste management has been driven by an increase in construction and demolition activity.

Which region accounted for the largest share in Waste Management Market?

North America dominated the global market as a result of government regulations mandating waste management in a number of industries and infrastructure improvements. The Resource Conservation and Recovery Act and the Waste Shipment Regulation are anticipated to have a big impact on the market. These rules are intended to enhance the service.

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 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.

Waste Management Market Report Snapshots

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FAQs

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).

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. '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)'

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.

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.

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.

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