Market overview of industrial waste recycling and services
Technavio’s research analyst predicts the global industrial waste recycling and services market to grow steadily at a CAGR of over 12% during the forecast period. The increasing amount of waste generated due to rapid industrialization is one of the primary growth drivers for this market. This research report indicates that more than 11 billion tons of industrial waste is collected worldwide, which needs to be managed properly, or else there will be land-space constraints, resulting in illegal dumping.
Technological advances in recycling procedures, which include thermal and biological technologies, is also expected to boost the market growth during the forecast period. Waste recycling methods are chosen based on a cost-benefit analysis. By implementing cost-benefit analysis, industries get a proper perspective on the social, economic, and environmental issues involved, which can enable them to choose the most suitable technology.
Segmentation by industry and analysis of the industrial waste recycling and services market
Construction and demolition
Oil and gas
The construction and demolition segment dominated the market during 2015, with a market share of around 28%. Growing environmental concerns and increasing waste management initiatives are the main factors fueling the demand for waste recycling and services in the construction and demolition segment.
Waste type segmentation and analysis of the industrial waste recycling and services market
The non-hazardous waste segment dominated the industrial waste recycling and services market and accounted for about 87% of the market share during 2015. The non-hazardous segment is expected to grow steadily during the forecast period due to the government policies, such as those set by the Environmental Protection Agency (EPA) in the US.
Competitive landscape and key vendors
The global industrial waste recycling and services market is characterized by the presence of a large number of suppliers. Therefore, it is difficult to determine the market shares of suppliers at present. The APAC region is expected to witness encouraging growth during the forecast period due to massive growth in industrial activities, resulting in the generation of huge amounts of industrial waste. As a result, many vendors are looking to expand into APAC to expand their market footprint during the forecast period.
The leading vendors in the market are -
Veolia Environmental Services
Other prominent vendors in the market include Abengoa, Befesa, Enviro-Serv, Progressive Waste Solution, and Remondis.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global industrial waste recycling and services market?
What are the key market trends impacting the growth of the global industrial waste recycling and services market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global industrial waste recycling and services market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global industrial waste recycling and services market?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global Industrial Waste Recycling and Services Market 2016-2020 Technavio recognizes the following companies as the key players in the Global Industrial Waste Recycling and Services Market: Republic Services, Suez Environnement, Veolia Environmental Services and Waste Management Other Prominent Vendors in the market are: Abengoa, Befesa, Enviro-Serv, Progressive Waste Solution, and Remondis. Commenting on the report, an analyst from Technavio’s team said: “Onsite recycling is gaining popularity, which bodes well for market growth during the forecast period. Such onsite waste recycling reduces the cost of transporting the waste and keeps the waste out of the waste stream, which leads to either the landfill or the incineration process. This, in turn, protects the environment.” According to the report, waste collection is a critical aspect of the waste management system and includes gathering waste in collection containers, sorting and grading it, and transporting it to treatment or recycling facilities. Mixed-material wastes offer low economical value and require additional work and time to fulfill certain parameters. Hence, new technologies are introduced such as smart collection and processing that make these processes simpler and more economic. The use of advanced technologies and improved collection processes will drive the recycling and services market. Further, the report states that the lack of awareness among companies in developing countries poses a challenge to market growth.