Waste Management Market to be Worth $703.9 Billion by 2030
Added: (Wed Aug 23 2023)
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According to this latest publication from Meticulous Researchฎ, the waste management market is projected to reach $703.9 billion by 2030, at a CAGR of 4.9% during the forecast period. The market's growth is driven by government regulations for waste management, increased consumer awareness about environmental protection, and the growing adoption of smart waste management technology. Furthermore, technological advancements in waste management devices and initiatives for E-waste management are expected to create market growth opportunities.
However, the requirement of a huge capital investment restrains the growth of this market. Additionally, the lack of a proper disposable/dumping system in ASEAN markets and the high cost of recycling E-devices pose major challenges for the players in this market. Furthermore, advancements in waste-to-energy technology and the adoption of intelligent waste management solutions are the key trends observed in the waste management market.
The waste management market is segmented by waste type, waste management method, and source. The study also evaluates industry competitors and analyzes the market at the region/country level.
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Scope of the report:
Waste Management Market Assessment, by Waste Type
Hazardous Waste
Industrial Waste
Municipal Solid Waste
E-waste
Plastic Waste
Biomedical Waste
Other Waste
Waste Management Market Assessment, by Waste Management Method
Landfilling
Recycling
Incineration
Biological Reprocessing
Waste-to-energy
Other Waste Management Methods
Waste Management Market Assessment, by Source
Residential
Commercial
Municipal
Industrial
o Food & Beverage
o Automotive
o Semiconductor & Electronics
o BFSI
o Aerospace and Defense
o Machinery & Metal
o Pharmaceutical
o Other Industries
Waste Management Market Assessment, by Geography
North America
o U.S.
o Canada
Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia & New Zealand
o Rest of Asia-Pacific
Latin America
o Mexico
o Brazil
o Rest of Latin America
Middle East & Africa
o UAE
o Israel
o Rest of Middle East & Africa
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Based on waste type, the waste management market is segmented into hazardous waste, industrial waste, municipal solid waste, e-waste, plastic waste, biomedical waste, and other waste. In 2023, the hazardous waste segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth and the associated increase in demand for goods and services, growth in trade in chemical products, increased use of oils and pesticides, and a rise in the number of hazardous components in household waste.
Based on waste management method, the waste management market is segmented into landfilling, recycling, incineration, biological reprocessing, waste-to-energy, and other waste management methods. In 2023, the landfilling segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to the rising awareness regarding waste disposal and the advantages of landfilling, such as the use of well-engineered managed facilities, ensuring environmental protection from contaminants. Additionally, landfills are strategically placed using on-site environmental monitoring systems, which help to maintain public health.
Based on source, the waste management market is segmented into residential, commercial, municipal, and industrial. The industrial segment is further sub-segmented into food & beverage, automotive, semiconductor & electronics, BFSI, aerospace & defense, machinery & metal, pharmaceutical, and other industries. In 2023, the residential segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth, rural and urban development, lifestyle changes, and the consequent change in household consumption patterns.
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Based on geography, the waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the waste management market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's major market share is attributed to rapid technological advancements in waste management and government initiatives towards the zero waste plan in several Asia-Pacific countries. These initiatives are likely to boost awareness regarding waste management and have a positive impact on the market growth in the region.
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