Waste Management Market by Waste Type (Municipal and Industrial) and Service (Collection and Disposal) - Global Opportunity Analysis and Industry Forecast, 2017-2023
The global waste management market was valued at $285.0 billion in 2016, and is expected to reach $435.0 billion by 2023, registering a CAGR of 6.2% from 2017 to 2023. Waste management is collection, transportation, and disposable of garbage, sewage, and other waste products. It involves treatment of solid waste and disposal of the products and substances in a safe and efficient manner.
Government measures to reduce illegal dumping majorly drives the growth of the waste management market. In addition, surge in population and increased globalization increase the volume of the overall waste. According to World Bank in 2012, urban population produced about 1.3 billion tons of Municipal Solid Waste (MSW), which is expected to grow to 2.2 billion tons in 2025. Moreover, unhealthy lifestyle as well as industrialization in emerging economies such as India, China, and Taiwan leads to the development of chemical, oil & gas, automobile and medical industries, which further increases waste generation, which that boost the market growth. However, high cost associated with waste management solutions hamper the growth of the market. Conversely, increase in awareness among public and government about these solutions and developing waste-to-energy solutions provide lucrative growth opportunities.
The global waste management market is segmented based on waste type, service, and region. Based on waste type, it is bifurcated into municipal waste and industrial waste. Based on service, it is classified into collection services and disposable services. Collection services is further classified into collection & transportation, storage & handling and sorting. Disposable services is segregated into landfills, recycling, compositing & anaerobic digestion, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the highest market share in 2016, and is expected to maintain its dominance throughout the forecast period. This is attributed to rapid industrialization in the region and growth in measures toward adoption of recycling technologies. Moreover, government regulations to reduce air pollution and encourage proper handling and disposal of waste stimulate the market growth in the region. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, due to rise in urbanization and increase in disposable income.
The major players profiled in the global waste management report include CLEAN HARBORS, INC., Daiseki Co. Ltd., Waste Management Inc., Suez Environment S.A., Advanced Disposal Services, Veolia Environment S.A, Republic Services Inc., Covanta, Remondis AG & Co. Kg, Biffa Group, and Hitachi Zosen Corporation.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global waste management market, with current trends and future estimations to elucidate the imminent investment pockets.
A quantitative analysis from 2016 to 2023 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Porter’s Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
KEY MARKET SEGMENTS
Rest of Europe
Rest of Asia-Pacific
Key Market Players
CLEAN HARBORS, INC.
Daiseki Co. Ltd.
Waste Management Inc.
Suez Environment S.A.
Advanced Disposal Services
Veolia Environment S.A
Republic Services Inc.
Remondis AG & Co. Kg
Hitachi Zosen Corporation
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