Global Waste Management Market Report and Forecast 2024-2032

Global Waste Management Market Outlook

The global waste management market attained a value of about USD 2,570.16 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.6% to reach approximately USD 4,195.38 billion by 2032.

Government Regulations to Cater to the Growth of Waste Management Industry

The waste management industry is expected to expand due to various government policies and regulations to maintain and keep control of illegal dumping that might be hazardous to the environment and to human health. There are regulations to keep a check on any hazardous waste and with proper management by the government agencies, the market will benefit over the forecast period. Businesses typically dump non-hazardous waste illegally to avoid paying exorbitant collection fees to commercial haulers.

Residents also dump to avoid paying exorbitant collection fees or because there is no other option. Construction and demolition (C&D) trash, autos, furniture, and medical wastes are among the materials dumped by the individuals, which pile up as the waste discarded in the environment. Vacant or poorly lit property, country roads, and alleys are common places for unlawful dumping. To make matters worse, dumped goods frequently attract more dumping. Government control is expected to manage the disposal of waste by industries, which is predicted to aid the growth of the waste management industry.

Waste Management: Market Segmentation

The activities and actions necessary to manage trash from its inception to its final disposal are referred to as waste management (or waste disposal). This comprises waste collection, transportation, treatment, and disposal, as well as waste management process monitoring and control, as well as waste-related laws, technologies, and economic systems.

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The major types of waste management are:

• Municipal Waste
• Industrial Waste
• Hazardous Waste

The market can be broadly categorised on the basis of services into:

• Collection
• Disposable

Collection is segmented on the basis of types into collection and transportation, storage and handling, and sorting, whereas disposable is segmented on the basis of types into composting and anaerobic digestion, landfills, and recycling.

The EMR report looks into the regional markets of waste management like North America, Europe, Latin America, Asia Pacific, Middle East and Africa.

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Rise in the Waste Volume to Aid to Waste Management Industry Growth

The waste management industry is being influenced by factors, such as the increase in the world population, acceleration of rural-urban mobility, and expansion of economic affluence. Further, it is predicted that the globe will generate around 7–10 billion tonnes of solid garbage each year. Municipal solid trash accounts for 2.01 billion tonnes of this total, according to the World Bank.  In the Asia Pacific region, the area is on track to double its solid waste creation from 150 million tonnes to 272 million tonnes within 10–20 years, resulting in a per capita generation of 1.14 kilogramme per day, compared to the global average of 0.74 kilogramme, as per Global Waste Management Conference. Due to the rise in the population of the world, majorly in the developing and under-developed nations, there is expected to be more waste, which will increase the demand for waste management and waste control measures, consequently aiding the growth of the waste management industry. Further, rapid industrialisation in emerging economies, such as India, Taiwan, and China, has resulted in the development of oil and gas, chemical, automobile, and medical industries, which generates a significant amount of waste and pollution. These factors are expected to augment the market growth over the forecast period.

The main constraint for the market growth is the cost put in the management of waste and in disposable activities. This might impede the market growth over the forecast period.

Key Industry Players in the Global Waste Management Market

The report presents a detailed analysis of the following key players in the global waste management market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• BIFFA PC
• Clean Harbors Inc.
• Covanta Holding Corporation
• Daiseki Co. Ltd.
• Hitachi Zosen Corporation
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report