2024-2030 Market Estimate: Waste Management to Reach $703.9 Billion
Meticulous Research®, a renowned global market research organization, has released a new report entitled, “Waste Management Market by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling, Recycling, Incineration), and Source (Residential, Commercial, Municipal, and Industrial) - Global Forecast to 2030.”
According to the report, the waste management market is projected to achieve a value of $703.9 billion by 2030, with a CAGR of 4.9% over the forecast period. Key drivers of this growth include stringent government regulations, increased environmental awareness, and the rise of smart waste management technologies. Technological advancements in waste management equipment and E-waste management initiatives are also expected to contribute significantly to market growth.
Despite these drivers, the market faces obstacles such as the need for large capital investments and inefficiencies in waste disposal systems in ASEAN markets, along with high recycling costs for electronic devices. Trends such as advancements in waste-to-energy technology and the implementation of intelligent waste management solutions are emerging as key influences in the market.
The report segments the market by waste type, management method, and source, with detailed competitor and regional analyses.
The waste types include hazardous waste, industrial waste, municipal solid waste, E-waste, plastic waste, biomedical waste, and other categories. The hazardous waste segment is forecasted to be the largest in 2024, driven by population growth, increased industrial activity, and rising hazardous components in household waste.
For waste management methods, the market is categorized into landfilling, recycling, incineration, biological reprocessing, waste-to-energy, and other methods. The landfilling segment is expected to have the largest market share in 2024 due to its effective waste disposal and environmental protection benefits.
By source, the market is divided into residential, commercial, municipal, and industrial sectors, with the industrial segment further divided into industries such as food & beverage, automotive, electronics, and more. The residential segment is expected to be the largest market contributor in 2024 due to demographic and consumption pattern changes.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to dominate the market in 2024, with North America, Europe, Latin America, and the Middle East & Africa following. Asia-Pacific's dominance is attributed to rapid technological advancements and government zero waste initiatives.
Key Players:
The key players operating in the waste management market are Advanced Disposal Services, Inc. (U.S.), Biffa Group (U.K.), Clean Harbors, Inc. (U.S.), Covanta Holding Corporation (U.S.), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Suez Environment S.A (France), Veolia Environment S.A (France), Waste Management Inc. (U.S.), Republic Services, Inc. (U.S.), Waste Connections, Inc. (U.S.), GFL Environmental Inc. (U.S.), Stericycle, Inc. (U.S.), Casella Waste Systems, Inc. (U.S.), and Bingo Industries Limited (Australia).
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Key questions answered in the report-
- Which are the high-growth market segments based on waste type, waste management method, source, and geography?
- What was the historical market for the waste management market?
- What are the market forecasts and estimates for the period 2024–2030?
- What are the major drivers, restraints, opportunities, challenges, and trends in the waste management market?
- Who are the major players, and what shares do they hold in the waste management market?
- How is the competitive landscape in the waste management market?
- What are the recent developments in the waste management market?
- What strategies are adopted by the major players in the waste management market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global waste management market, and how do they compete with the other players?
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