The global waste management market size was valued at USD 1,293.70 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The market is expected to be driven by stringent government regulations such as the Resource Conservation and Recovery Act and Waste Shipment Regulation for improving this service. During the COVID-19 pandemic, due to the lockdown, waste production decreased from the commercial and industrial sectors as factories and offices were completely or partially shut down. However, the urban waste increased from residential areas. The reopening of production facilities at the beginning of 2021 and rising vaccination rates lead to the re-initiation of the waste recycling industry and companies at their full-scale capacities.
The U.S. was one of the majorly COVID-19 affected countries, wherein the government had imposed a lockdown in 2020 to control the spread of the virus, resulting in the reduction of waste generation from the industrial sector. By 2021, the production facilities have started their operation, resulting in increased waste generation, thereby impacting the market growth positively.
Rising awareness regarding proper waste disposal globally for maintaining animal and human health has resulted in the emergence of various disposal methods and techniques. The occurrence of large quantities of dangerous compounds, such as metals and salts, in the waste, has made it necessary for waste management companies to dispose of or recycle the waste on time.
The market is dominated by a few major players such as Veolia; Covanta; Valicor; and Waste Management Inc., which have large customer bases and goodwill, limiting new entrants. New market entrants are also expected to witness high capital costs owing to the advanced nature of processing technologies. This is expected to lower the threat of new entrants, thereby limiting the competition in the market.
The high cost of operating and procuring waste management solutions is anticipated to impact the market growth. Additionally, the industry is labor-intensive and can require a lot of amount as their wages. Costs of transportation of waste are also high as the cost includes collection costs and transportation costs to recycle facilities or landfills.
The collection segment led the market and accounted for over 62.0% share in 2022. The waste collection includes segregation of waste, loading and unloading of waste, selecting a suitable area, setting up that area for storage of waste at a minimum distance from where the waste is generated, and maintenance of the waste. The companies involved in the waste collection have to consider regular cleaning and maintenance of these storage areas.
Proper measures are required to be taken while transporting the waste in order to avoid waste spilling and leaking. The liquid waste needs to be covered and must be leak-proof during transportation. Hazardous waste from commercial and industrial premises is required to be transported through proper transport vehicles with a certain level of protection, whereas non-hazardous waste can be transported directly to the recycling facility.
The disposal segment is estimated to expand at the highest CAGR of 5.9% over the forecast period. There are various methods of disposal, namely recycling, incineration, composting, landfills, and open dumping. The proper disposal of waste is required to avoid environmental deterioration and various infections such as HIV and hepatitis among the population caused due to improper waste disposal.
Incineration plants generate energy from waste, which is useful for the generation of heat and electricity. The incineration disposal method reduces the volume of waste by 95%-96% depending upon the degree of recovery of waste material as metals from the ash for recycling. Incineration reduces the dependency on landfills.
The industrial waste segment led the market and accounted for over 85.9% share in 2022. Rapid urbanization and industrialization are major factors behind increasing industrial waste generation. Industrial waste management is required as mismanagement of this waste can lead to the pollution of lakes and groundwater and damage to wildlife and vegetation.
According to our world data, by 2050, around 7 billion people will live in urban areas, which is expected to increase urban waste generation in the near future. During the COVID-19 pandemic, in 2020, the government of various countries such as the U.S., India, and China imposed a lockdown to control the spread of the virus, resulting in people working from home due to which the urban waste increased in 2020.
The e-waste segment is likely to expand at the fastest CAGR of 7.4% over the forecast period. Rapid technological advancements have resulted in the emergence of new electronic products and upgraded versions of the existing products, thereby reducing their shelf life and in turn, increasing the e-waste generation.
Waste generated from hospitals, clinics, and diagnostic centers is required to be managed through proper waste management techniques to avoid the spread of infections and diseases such as pneumonia, tuberculosis, tetanus, whooping cough, and diarrhea. The biomedical waste generation increased between 2020 and 2021 owing to the growth in various diagnostic activities and treatment of COVID-19 patients.
Asia Pacific led the industry and accounted for over 24.5% share in 2022. Government initiatives such as Swacch Bharat Abhiyan and the zero waste plan by several Asia Pacific countries are likely to boost awareness regarding waste management. This, in turn, is anticipated to have a positive impact on the market growth in Asia Pacific.
Factors such as increasing waste generation, strict government regulations for waste management, and illegal dumping are anticipated to drive the demand for waste management in North America. Furthermore, rapid technological advancements such as PET bottle recycling technology in waste management practices are expected to have a positive impact on the demand in North America.
The Middle East and Africa is estimated to expand at a CAGR of 5.6% over the forecast period. The growth is attributed to the increasing awareness regarding sustainable advantages and benefits of reusing and recycling waste materials. However, the lack of money, inadequate infrastructure to introduce effective collection, and recycling in the majority of countries in the African region have resulted in illegal landfill sites, thereby hampering the market growth.
Increasing population, rising urbanization, economic growth, and unsustainable consumption and production patterns are some of the factors contributing to the rise in waste generation in Central and South America. Furthermore, rising awareness regarding waste recycling in the region is expected to have a positive impact on the market growth over the forecast period.
Generic strategies adopted by the companies usually include mergers & acquisitions, distribution network expansion, and product portfolio expansion. For instance, in February 2020, Valicor acquired Affiliated Wastewater Environmental Services to expand its network in the U.S. and strengthen its position as one of the major providers of wastewater treatment services in the country.
Major players in the market are vertically integrated across the supply chain, wherein they provide waste collection, transportation, and disposal services. This results in optimizing the operational cost and increasing profit margins, thereby enabling the companies to obtain a significant share in the industry. Some prominent players in the global waste management market include:
Remondis Se & Co. Kg
Biomedical Waste Solutions
Market size value in 2023
USD 1,355.82 billion
Revenue forecast in 2030
USD 1,966.19 billion
CAGR of 5.4% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million and CAGR from 2023 to 2030
Revenue forecast, company market position analysis, competitive landscape, growth factors, and trends
Service type, waste type, and region
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, Australia, South Korea, Brazil, Argentina, South Africa, & UAE
Key companies profiled
Waste Management, Suez, Veolia, Valicor, Waste Connections, Republic Services, Biffa, Clean Harbors, Covanta Holding, Daiseki,Hitachi Zosen, Remondis Se & Co. Kg, Urbaser, Fcc Environment, Biomedical Waste Solutions, and Stericycle
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This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the waste management market on the basis of service type, waste type, and region:
Service type Outlook (Revenue, USD Billion; 2018 - 2030)
Waste Type Outlook (Revenue, USD Billion; 2018 - 2030)
Regional Outlook (Revenue, USD Billion; 2018 - 2030)
Central & South America
Middle East & Africa
b. The global waste management market size was estimated at USD 1,293.70 billion in 2022 and is expected to reach USD 1,355.82 billion in 2023.
b. The waste management market, in terms of revenue, is expected to grow at a compound annual growth rate of 5.4% from 2023 to 2030 to reach USD 1,966.19 billion by 2030.
b. North America dominated the waste management market with a revenue share of 33.2% in 2022, on account of higher rate of waste collection and waste disposal services.
b. Some of the key players operating in the waste management market include Waste Management, Suez, Veolia, Valicor, Waste Connections, Republic Services, Biffa, Clean Harbors, Covanta Holding, Daiseki, Hitachi Zosen, Remondis Se & Co. Kg, Urbaser, Fcc Environment, Biomedical Waste Solutions, and Stericycle and among others.
b. The key factors that are driving the waste management market includes proactive government measures to decrease illegal dumping & rise in adoption of sustainable waste disposal and recycling techniques, technological advancement, and increasing e-waste generation.
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