Waste Management Market Is Anticipated To Reach US$ 2,094.5 Billion By 2032

In 2022, the worldwide waste management market is assessed at approximately US$ 1,499.3 billion, and it is anticipated to reach a market valuation of US$ 2,094.5 billion by the year 2032, showing a steady growth at a compound annual growth rate (CAGR) of 3.4% over the next decade.

In 2021, municipal waste generation reached a total of 2 billion tonnes, and this figure is projected to surge by 70% by the year 2050, ultimately reaching 3.4 billion tonnes. This substantial increase represents a significant twofold growth opportunity for companies operating in the waste management sector.

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Growth Drivers:

  1. Environmental Awareness: Increasing awareness of environmental issues and the need for sustainable waste management practices has driven demand for efficient waste disposal and recycling solutions.
  2. Regulatory Initiatives: Government regulations and policies aimed at reducing landfill waste, promoting recycling, and controlling pollution have created opportunities for waste management companies to develop innovative solutions.
  3. Urbanization and Population Growth: Rapid urbanization and population growth in many regions have led to increased waste generation, creating a need for more sophisticated waste management services.
  4. Technological Advancements: The development of advanced technologies for waste sorting, recycling, and waste-to-energy conversion has improved the efficiency and effectiveness of waste management operations.
  5. Circular Economy: The adoption of circular economy principles, which emphasize reducing, reusing, and recycling materials, has spurred growth in the waste management sector as companies seek to minimize waste and maximize resource utilization.

Competitive landscape:

Prominent waste management service providers are Biffa Group, Biomedical Waste Solutions, Clean Harbors, Inc., Covanta Holding Corporation, Cleanaway Waste Management Limited, GFL Environmental Inc., Daiseki, Fcc Environment, Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services Inc, Renewi Plc, Stericycle, Suez Environment S.A, Urbaser, Valicor Veolia Environment S.A, Waste Connections, and Waste Management Inc.

  • In October 2020, Waste management, a leading waste management company acquired Advanced Disposal Services. The acquisition will offer unparalleled eruption to differentiated, sustainable waste management & recycling services to the company in about 3 million new commercial, residential, and industrial customers, which was fundamentally located in 16 states in the eastern half of the United States.
  • In July 2021, Stericycle, a waste management company has partnered with UPS healthcare to manage the reverse logistics of medical waste. The partnership allowed an expansion of companies towards transportation, treatment, and disposal of different types of medical waste such as bio-hazardous, pharmaceutical wastes, and sharps.
  • In February 2021, Biffa group, a leading waste management organization, acquired Shop Group, which is a leading organization in redistributing surplus food & household products. As part of the agreement, the two businesses will collaborate to offer the food manufacturing and FMCG industries a special circular economy proposition. This will enable some of the largest operators in the UK to realize sustainable value from the 141,000 tonnes of high-quality food and beverage surplus that are produced in the U.K. each year.

Fact.MR has provided detailed information about the service providers of waste management positioned across regions, revenue growth, and service offering expansion, in the recently published report.

Segmentation of Waste Management Industry Survey:

  • By Service :
    • Collection
    • Transportation
    • Recycling & Disposal
  • By Waste Type :
    • Commercial Waste
    • Industrial Waste
    • Municipal Waste
    • Others (not covered elsewhere)
  • By End-use Industry :
    • Residential
    • Commercial
    • Industrial
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

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Questionnaire answered in the Market outlook Report of Waste Management include:

  • What is the key strategy deployed by large players to maximize Waste Management Market growth?
  • What are the main challenges faced by players in the Waste Management market Demand?
  • With the advent of technological advancement, how will the Waste Management market landscape change over the forecast period?
  • What does player bring to the table which is unique as a strategy, and is easy to emulate for

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