Proactive government measures to reduce illegal waste disposal, technological advancements in waste processing and recycling, and the rising generation of e-waste globally is leading to increase in Waste Management Market.
According to a new market research report, the global Waste Management Market is projected to reach USD 1598.1 billion by 2029 from an estimated USD 1219.6 billion in 2024, at a CAGR of 5.6% during the forecast period.
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List of Key Players in Waste Management Market:
- WM Intellectual Property Holdings, L.L.C. (US),
- Suez (France),
- Veolia (France),
- Republic Services (US)
- Waste Connections (US)
Key Findings of the Study:
- By source, the Industrial segment is expected to be the largest market during the forecast period
- Disposal type, Landfilling is expected to be the largest segment during the forecast period.
- By Region, Asia-Pacific is expected to dominate the Waste Management Market during the forecast period.
Based on, the disposal method, Waste Management Market is segmented into five categories: Open Dumping, Incineration/Combustion, Landfill, Recycling, Composting & Anaerobic Digestion. The Landfill waste management segment is expected to be the largest segment during the forecast period. Landfills effectively manage non-hazardous solid waste by disposing of non-recyclable garbage. Modern landfills are well-engineered and can handle numerous waste types, making them prominent in the waste management business. Furthermore, the growing population and large solid waste generation, particularly from residential sources, boost need for waste management services, which frequently end up in landfills. Additionally, the residential segment contributes heavily to garbage generation, with families producing a variety of waste that frequently ends up in landfills, underscoring landfills’ role in the waste management business.
This report segments Waste Management Market based on source type into three categories: Residential, Commercial & Industrial source. The commercial segment is expected to be the second largest segment by source during the forecast period. It includes physical pickup and transfer of waste produced by businesses to a place where it can be treated or disposed of. Schools, offices, hotels and restaurants, stores, hospitals, prisons, and government centers fall under this category. The segment covers waste in the form of appliances, crockery products, FMCG products, stationery, consumer durables, and packaging materials. The Waste Management Market in this sector is projected to witness moderate growth due to rapid urbanization and the booming hospitality sector. The recycling of commercial waste includes collection, sorting, and recycling of waste, which can be done either by a municipality or a private recycling firm.
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North America is expected to be the largest region in the Waste Management Industry.
The dense population and rapid urban development in the area result in a notable volume of waste from residential, commercial, and industrial activities. This situation necessitates the implementation of comprehensive waste management systems and infrastructure. Moreover, the United States, being the largest contributor to waste due to its population size, generates a significant portion of the world’s municipal solid waste. In North America, the waste management sector benefits from efficient industrial waste management techniques, an increasing focus on environmental cleanliness, and the primary industrial sectors such as electricity, pharmaceuticals, and oil and gas, which are major consumers of waste management services. Stringent government regulations in the U.S. and Canada have spurred the collection and disposal of industrial waste, further stimulating the waste management industry in the region. It has headquarters of many big waste management companies such as WM Intellectual Property Holdings, L.L.C. (US), Republic Services (US) & Waste Connections (US).
