Rise in e-waste due to technological advancements will lead to increased demand for Waste Management across the globe

Waste Management Category - Procurement Intelligence

The waste management category is anticipated to witness growth at a CAGR of 5.4% from 2023 to 2030. In 2022, Asia Pacific held a substantial share of the global category, followed by North America and Europe. The need for waste management in North America is expected to be driven by factors such as rising waste generation, unlawful dumping, and stringent waste management laws in various sectors. Rapid technological developments, such as the recycling of PET bottles through waste management techniques such as re-extrusion, are anticipated to further fuel this demand. Growing infrastructure is also expected to influence the growth. Regulations such as as the Resource Conservation and Recovery Act (RCRA) and the Waste Shipment Regulation are expected to significantly impact the industry.

Key sectors that utilize waste management services include construction, manufacturing, healthcare, pharmaceuticals, and chemicals since these sectors produce a sizeable amount of waste compared to others. Food and beverages, retail, packaging, and hospitality sectors also contribute to the utilization of services offered in the category. The healthcare industry is expected to witness the fastest growth in consumption of waste management services during the forecast period, due to increasing awareness of risks associated with healthcare waste and the implementation of stringent policies and standards regarding healthcare waste disposal. By type, E-waste, hazardous, plastic, and biomedical waste are the key segments of the waste management category. The e-waste segment is expected to witness the fastest growth due to increased global consumption of electronic items.

Technologies such as big data & analytics are playing a crucial role in supporting the category’s development. Big data and analytics enhance operational efficiencies in the complex process of waste management. The data collected by smart bin sensors provides information about the frequency of emptying bins depending on the location. This helps waste management companies determine the type of garbage based on a particular site and guarantee prompt waste collection. Big data also enables waste management service providers to track and manage carbon emissions from their current waste management processes. Waste management and recycling facilities are incorporating advanced technologies such as autonomous waste picking systems and material scanners to increase operational efficiency. These technologies support recyclers in recovering more materials and improving waste stream quality.

The COVID-19 pandemic caused significant disruption in waste management services. The demand for these services intensified after the COVID-19 outbreak, due to the additional medical and household waste burden from increased usage of Personal Protective Equipment (PPE) such as face masks, gloves, and face shields. The rise in the usage of syringes, packaging material, and sample collection containers also resulted in a demand surge for medical waste disposal. Supply chain disruptions were initially prevalent due to limited resources and labor shortages as a result of government-imposed lockdowns, but the supply stabilized in 2023 to meet the increased global demand.

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Waste Management Sourcing Intelligence Highlights

• The waste management category exhibits a moderately consolidated landscape with the presence of a few large players dominating the market.

• Buyers in the industry possess high negotiating power since there are few switching costs, plenty of substitutes, and little differences between the service providers. If consumers are dissatisfied with the services of one player, they can simply switch to a rival.

• India is the preferred low-cost / best cost country for sourcing waste management owing to competitive labor costs, which result in significant cost savings.

• Machineries & equipment, labor, rent & utilities, logistics, and maintenance & repair, and other costs are the major cost components of waste management category. Other costs can be further bifurcated into administrative expenses, depreciation, repayment of loan, insurance, and regulatory certifications.

Waste Management Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Category intelligence along with emerging technology and regulatory landscape

• Category estimates and forecasts from 2022 to 2030

• Growth opportunities, trends, and driver analysis

• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments

• Porter’s 5 forces

• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis

• Engagement and operating models, KPI, and SLA elements

• LCC/BCC analysis and negotiation strategies

• Peer benchmarking and product analysis

• Category report in PDF, Excel, and PPT and online dashboard versions

Cost Intelligence Highlights

Grand View Research has identified the following key cost components for the waste management category:

• Machineries & Equipment

• Labor

• Rent & Utilities

• Logistics

• Maintenance & Repair

• Others

  • Administrative Expenses

  • Depreciation

  • Repayment of Loan

  • Insurance

  • Regulatory Certifications

Machineries & Equipment and Labor forms the largest key cost component of the waste management category.

List of Key Suppliers in the Waste Management Category

• Biffa Ltd.

• Clean Harbors, Inc.

• Covanta Holding Corporation

• Daiseki Co., Ltd.

• FCC Environmental

• Hitachi Zosen Corporation

• Remondis SE & Co. KG

• Republic Services

• Stericycle, Inc.

• SUEZ SA

• Valicor Environmental Services

• Veolia Environnement SA

• Waste Connections, Inc.

• Waste Management, Inc.