PUBLISHER: 360iResearch | PRODUCT CODE: 1470866
PUBLISHER: 360iResearch | PRODUCT CODE: 1470866
[183 Pages Report] The Waste Management Market size was estimated at USD 1.12 trillion in 2023 and expected to reach USD 1.19 trillion in 2024, at a CAGR 6.09% to reach USD 1.70 trillion by 2030.
Waste management refers to the systematic process of handling, disposing of, and recycling waste generated by human activities. It encompasses various activities, including collection, transport, treatment, and disposal of waste, as well as monitoring and regulation of the waste management process. Effective waste management is crucial for maintaining public health, environmental sustainability, and economic growth. The global surge in urbanization has led to higher waste generation rates in cities. Urban areas produce a significant amount of waste due to high population densities and increased economic activities. This drives the demand for more sophisticated waste management solutions to maintain cleanliness and public health. Growing awareness about the environmental impacts of waste, such as pollution and greenhouse gas emissions, has motivated both governments and the public to adopt better waste management practices, subsequently, driving the market growth. The high costs associated with waste management, from collection to disposal and recycling hampers the market growth. Growing innovations in waste processing and recycling technologies that expand the capabilities of waste management are expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 1.12 trillion |
Estimated Year [2024] | USD 1.19 trillion |
Forecast Year [2030] | USD 1.70 trillion |
CAGR (%) | 6.09% |
Service Type: Growing usage of sorting & segregation services that facilitate easier recycling
The disposal process involves the final deposition of waste, typically in landfills. This step is usually the last resort after all other recycling and recovery options have been exhausted. Sorting & segregation is a crucial initial service where waste materials are separated based on type and potential for recycling. Proper sorting & segregation facilitate easier recycling and ensure that materials inappropriate for particular waste streams are removed. Transportation service is about moving waste from its point of origin, where it is collected, to locations where it can be processed, treated, or disposed of. Efficient transportation is critical for the smooth operation of waste management systems. Treatment, recycling, & recovery processes are focused on converting waste into usable forms. Recycling involves transforming waste materials into new products, reducing the need for virgin resources. Recovery includes extracting usable resources or energy from waste materials. The chemical treatment method uses chemicals to neutralize or separate hazardous components in waste, making it safer for disposal or further treatment. Composting & anaerobic digestion are biological processes that break down organic matter. Composting is an aerobic process (requires oxygen) that converts organic waste into nutrient-rich compost. Anaerobic digestion occurs without oxygen, producing biogas that can be used to generate energy. Incineration & combustion are thermal processes where waste materials are burned at high temperatures. The heat generated can be used to produce energy, and the volume of waste is significantly reduced. Mechanical biological treatment (MBT)is a combination of mechanical and biological techniques is used to process waste. Initially, mechanical sorting separates recyclables and biomass, followed by biological treatment such as composting or anaerobic digestion. Pyrolysis & gasification is an advanced thermal treatment where waste is exposed to high temperatures in the absence of oxygen (pyrolysis) or with a limited supply of oxygen (gasification). Both processes convert organic materials into synthetic gas, oils, or other chemicals for various uses. Waste collection is the first step in the waste management process, involving the accumulation of waste from residential, commercial, and industrial sources. Efficient collection is crucial to manage waste effectively and forms the foundation for further processing and treatment.
End-User: High potential of waste management services in industrial sector that includes hazardous materials requiring specialized management
Commercial waste management involves handling waste generated by businesses such as offices, stores, and service establishments. The aim is to effectively manage recyclables, general waste, and special waste types, ensuring they are disposed of or recycled in an environmentally friendly manner. The industrial category deals with waste from industrial activities, including manufacturing, chemical production, and other heavy industries. Industrial waste can vary greatly and often includes hazardous materials requiring specialized management to prevent environmental harm. Agriculture & forestry waste management focuses on organic waste such as crop residues, animal manure, and wood waste. Efficient handling aims to reduce environmental impacts and, where possible, repurpose waste into useful products including, biofuels or compost. Waste management in the construction & demolition sector deals with waste materials from building and demolition sites, including concrete, wood, metal, and glass. The goal is to maximize material recovery and recycling to minimize the amount sent to landfills. Electronics & technology sector addresses the disposal and recycling of electronic waste, or e-waste, which includes computers, mobile phones, and other electronic devices. Proper management is crucial to recover valuable materials and prevent hazardous substances from causing environmental damage. Waste management for the food & beverage industry involves handling organic waste products, packaging, and more. Strategies include composting, recycling, and converting waste into energy, aiming to reduce the environmental impact of waste. The healthcare & pharmaceutical industry deals with waste from healthcare facilities and pharmaceutical manufacturing, including hazardous and non-hazardous waste. Special procedures ensure safe disposal to prevent risks to public health and the environment. Manufacturing waste can include a wide range of materials, from scrap metal and plastics to chemical by-products. Efficient management seeks to reduce, reuse, and recycle materials, decreasing the environmental footprint of manufacturing activities. Waste from mining & energy production encompasses a variety of materials, including hazardous and non-hazardous waste. Management focuses on minimizing environmental damage through waste reduction strategies and responsible disposal methods. In the retail & hospitality sectors, waste management includes dealing with packaging, food waste, and other general waste. The aim is to incorporate sustainable practices, such as recycling and composting, to reduce the overall waste footprint. Residential waste management involves the collection, sorting, and disposal of household waste. It encourages recycling and composting to minimize the amount of waste sent to landfills, promoting a more sustainable approach to waste handling at the household level.
Regional Insights
In the Americas, the waste management market is driven by legislation focused on recycling and reducing landfill usage, coupled with a growing awareness among the population about environmental issues. The United States and Canada are frontrunners in the region, adopting innovative technologies such as Waste-to-Energy (WtE) solutions and advanced recycling methods. South America is also making strides, although at a slower pace, with its efforts being bolstered by environmental policies and investment in waste management infrastructure. The Asia-Pacific region presents a dynamic landscape for the waste management market, fueled by rapid urbanization, burgeoning populations, and strengthening waste management regulations. Countries including Japan and South Korea are implementing cutting-edge technology in waste processing and recycling. Europe stands out in the EMEA region for its robust waste management frameworks and high recycling rates, driven by stringent EU directives such as the Waste Framework Directive and the Landfill Directive. Scandinavian countries, in particular, set the benchmark with their sustainable waste management practices and high levels of waste-to-energy conversion. In the Middle East and Africa, there's a growing emphasis on improving waste collection and recycling activities, with several projects and initiatives being rolled out, especially in the Gulf Cooperation Council (GCC) countries and major African cities.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Waste Management Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Waste Management Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Waste Management Market, highlighting leading vendors and their innovative profiles. These include ALBA Europe Holding PLC& Co. KG, Biffa PLC, BioMedical Waste Solutions, LLC, Casella Waste Systems, Inc., Clean Harbors, Inc., Covanta Holding Corporation, Custom Polymers, Inc., Daiseki Co., Ltd., Envac AB, FCC Environment Limited, HAHN Plastics Ltd., Krubong-Karich Group, Luxus Limited, Plastic Energy, REMONDIS SE & Co. KG, Repeat Plastics Australia Pty Ltd., Republic Services, Inc., Stericycle, Inc., Suez SA, Tana Oy, Veolia Environnement SA, Waste Connections, Inc., and Waste Management, Inc..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Waste Management Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Waste Management Market?
3. What are the technology trends and regulatory frameworks in the Waste Management Market?
4. What is the market share of the leading vendors in the Waste Management Market?
5. Which modes and strategic moves are suitable for entering the Waste Management Market?