Waste Management Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Waste Management Market size was estimated at USD 745.7 billion in 2023 and is projected to reach USD 1635.2 billion in 2030 at a CAGR of 5.2% during the forecast period 2024-2030.

The waste management market is a critical component of environmental sustainability and public health, encompassing the collection, transportation, processing, recycling, and disposal of various types of waste generated by households, businesses, industries, and institutions. The market is increasingly influenced by stringent government policies and international regulations aimed at reducing waste and promoting recycling. Policies such as extended producer responsibility and aggressive plastic waste reduction objectives are pivotal in driving market dynamics. The shift towards a circular economy, which emphasizes the continuous cycle of repurposing, reusing, and recycling resources, is revolutionizing waste management by reducing waste generation and enhancing resource optimization.

Rapid economic growth, urbanization, and a rising global population have significantly increased resource consumption, leading to substantial waste production. However, current waste and resource management practices often lack a holistic approach that encompasses the entire lifecycle of products—from design and raw material extraction to production, consumption, recycling, and final disposal. The scarcity of land for effective waste disposal and the focus on energy and resource recovery are key drivers of market growth. Conversely, lower sustainability practices and insufficient emphasis on waste management in some regions are hindering market expansion.

The COVID-19 pandemic had a profound impact on the waste management industry. Lockdowns resulted in reduced waste generation from industrial and commercial sectors as businesses were partially or completely shut down. However, residential waste increased significantly during this period. As economies recover and production activities resume, the waste generation is expected to rise, boosting the demand for waste recycling and management services. Proactive government measures to curb illegal dumping and promote recycling are also anticipated to drive market growth.

The U.S., severely affected by COVID-19, witnessed a temporary decline in industrial waste generation due to lockdowns. However, the reopening of production facilities and rising vaccination rates in 2021 led to a resurgence in waste generation, positively impacting the market. There is a growing global awareness regarding proper waste disposal to protect human and animal health, leading to the development of advanced disposal methods and techniques.

The waste management market is dominated by a few major players such as Veolia, Covanta, Valicor, and Waste Management Inc., which hold substantial market share and have established customer bases, creating barriers for new entrants. High capital costs associated with advanced waste processing technologies and labor-intensive operations further limit market competition. Additionally, the significant costs of waste transportation, including collection and transfer to recycling facilities or landfills, pose challenges to market growth.

In summary, the waste management market is poised for growth driven by stringent regulations, technological advancements, and increased awareness of environmental sustainability. However, challenges such as high operational costs and market entry barriers remain. The transition towards a circular economy and the development of innovative waste decomposition technologies offer promising opportunities for future market expansion.

Delvens Industry Expert's Standpoint

The current waste management market is undergoing significant transformation driven by the adoption of recycling and circular economy principles, emphasizing sustainable practices and minimizing waste. Prominent companies with established expertise and cutting-edge technologies dominate the market, offering reliable waste management solutions. The construction and demolition (C&D) waste segment is experiencing substantial growth due to increased construction activities and the need for proper disposal of inert, heavy, and non-biodegradable materials. Regulatory requirements for sorting, treating, and recycling C&D waste are further propelling market demand. The COVID-19 pandemic temporarily shifted waste generation patterns, with a surge in residential waste and a decline in industrial waste. However, as economies recover, industrial waste generation is expected to rise, boosting the waste management market. Future predictions indicate continued market growth, driven by stringent government regulations, technological advancements, and increasing global awareness of environmental sustainability. The transition towards a circular economy, coupled with innovative waste decomposition technologies, presents promising opportunities for market expansion, positioning waste management as a crucial component of sustainable development.

Market Portfolio

Key Findings

• On the basis of Source, the waste management market is segmented by source into three categories: residential, commercial, and industrial. The industrial segment is projected to be the largest market during the forecast period. Industrial activities produce substantial amounts of both hazardous and non-hazardous waste, necessitating specialized waste management services to handle these diverse waste streams. Increasing environmental awareness and the focus on sustainable practices have driven businesses to adopt recycling methods for effective waste management, positioning recycling as the leading approach in the global industrial waste management market. The emphasis on circular economy principles and government regulations promoting sustainability further bolster the industrial waste management segment's dominant role in the overall waste management industry.

• On the basis of Disposal Type, the waste management market, based on disposal methods, is segmented into six categories: open dumping, incineration/combustion, landfill, recycling, composting, and anaerobic digestion. Landfilling is anticipated to be the largest segment during the forecast period. Landfills are a widely used waste disposal strategy due to their effectiveness in managing solid waste, limiting environmental contamination, preventing disease transmission, and maintaining clean neighborhoods. They adhere to environmental regulations and standards to ensure proper waste disposal and are carefully monitored and managed to minimize risks to public health and the environment.

• On the basis of Waste Type, The Waste Management Market is segmented by waste type into Hazardous, E-waste, Plastic, Biomedical Waste, and Others. The E-waste segment dominated the market due to the presence of hazardous materials such as mercury, brominated flame retardants (BFRs), hydrochlorofluorocarbons (HCFCs), and chlorofluorocarbons (CFCs) in e-waste. Rising e-waste levels, inadequate collection systems, improper dumping, and poor treatment pose serious threats to the environment and human health. Additionally, improper e-waste management contributes to global warming.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific held the largest Waste Management Market share driven by government initiatives like Swachh Bharat Abhiyan and zero waste plans, boosting awareness and positively impacting market growth.

Regional Analysis

Asia pacific to Dominate the Market

• Asia Pacific is expected to dominate the waste management market from 2023 to 2030. As the world's fastest-growing economic region, Asia Pacific is lifting millions out of poverty and accelerating urbanization, which leads to increased trash output and demands efficient waste management techniques. Rapid industrialization in countries such as China, India, Indonesia, Russia, and Japan has resulted in higher industrial waste production, necessitating advanced waste treatment infrastructure. Additionally, the rise in plastic waste in the Asia Pacific region has heightened the demand for improved waste management and recycling activities.

Competitive Landscape

• Suez
• Valicor
• Veolia
• Waste Connections
• Republic Services
• Biffa
• Clean Harbors
• Covanta Holding
• Daiseki
• Hitachi Zosen
• Remondis Se & Co. Kg
• Urbaser
• Fcc Environment
• Biomedical Waste Solutions
• Stericycle

Recent Developments

• In November 2023, Biffa has completed the acquisition of Hamilton Waste and Recycling Limited (HWR), Scotland's foremost provider of construction and demolition (C&D) waste collection and processing services. This acquisition marks a significant advancement for Biffa, enhancing its capabilities in the C&D sector and reinforcing its dedication to low-carbon collection and material processing.
• In July 2023, SUEZ has acquired a 60% stake in APBB (Czech Republic), expanding its presence in the Czech Republic to include municipal and industrial waste management, as well as green energy production. In November 2022, Veolia and Abu Dhabi National Oil Company Refining signed a landmark agreement for the treatment of hazardous industrial waste.

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