According to a new report published by Allied Market Research, titled, “North America Waste Management Market by Type, and Service: Country Opportunity Analysis and Industry Forecast, 2020–2027,” The North America waste management market size is expected to reach $229.3 billion by 2027, from $208.0 billion in 2019, registering a CAGR of 5.3% from 2020 to 2027. In 2019, the U.S. dominated the market, in terms of revenue, accounting for about 92.45% share of the North America waste management industry, followed by Canada and Mexico.
An increase in urban population in Mexico is expected to result in growth in waste generation. In addition, huge amount of waste is being generated from the commercial and industrial sector, which in turn, it drives of the North America waste management market growth. For instance, according to the International Solid Waste Association, in March 2017, Mexico produced around 37.5 million tons of waste, which included municipal waste and industrial waste. Further, strict government regulation toward open burning, and illegal dumping, fuels the growth of the market. However, inadequate waste disposal is expected to restrain the growth of the market. Moreover, environmental problems such as soil, water, and air pollution have increased, owing to unplanned waste dumping over the last few years. In addition, increase in environmental awareness has significantly fueled the demand for waste management in developed countries.
During the lockdown, the waste generated from the medical sector and residential areas was huge due to the pandemic situation, as compared to industrial and commercial waste owing to halt in the manufacturing activities. In addition, supply chain of the waste management services stopped, owing to shortage of raw materials. Moreover, in 2021, with the availability of vaccine against COVID-19, the North America waste management market is expected to gradually witness growth.
The North America waste management market is segmented based on service, type, and country. Based on type, the market is classified into industrial waste, hazardous waste, and municipal waste. Based on service, the market is bifurcated into disposable services, and collection services. The collection services segment is sub-segmented into storage & handling, sorting, and collection & transportation. Disposable services segment is further sub-segmented into recycling, landfills, compositing and anaerobic digestion, and others. Country wise, the waste management market analysis is conducted across the U.S., Canada, and Mexico.
The major players, such as Biffa Plc, Covanta Holding Corporation, Bigbelly Inc, Remondis Se & Co. Kg, Veolia Environnement, Hitachi Zosen Corporation, Republic Services, Inc., Clean Harbors, Inc., Suez, Waste Management Inc, have adopted business expansion, and acquisition as their key strategies to improve their service portfolio. For instance, in March 2021, Biffa opened a new waste recycling facility in Washington, Sunderland, U.S. The business expansion aimed to increase the recycling capacity by 50%. The business expansion was done by $15.6 million. The new waste recycling facility has total capacity of 39,000 tons per year.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging North America waste management market trends and dynamics.
- Based on type, the industrial waste segment was the largest revenue generating segment in 2019.
- On the basis of service, disposable services segment generated the highest revenue, in 2019.
- Country-wise, U.S. country is anticipated to dominate the market throughout the study period.
- The North America waste management market forecast analysis from 2020 to 2027 is included in the report.