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Waste Management Market Expected to Reach $2,339.8 Billion by 2027

 

Report Code : A00327

quote by type, the industrial segment dominated the global waste management market growth in 2019, in terms of revenue. Moreover, on the basis of service, the disposable segment dominated the market in 2019 and will continue to dominate during the forecast period. quote

Rohit Sawant
Industry Analyst, Construction & Manufacturing at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “waste management market by type and service:  opportunity analysis and industry forecast, 2020–2027,” the global waste management market size accounted for $2,080.0 billion in 2019, and is expected to reach $2,339.8 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027. In 2019, Asia-Pacific region dominated the global market, in terms of revenue, accounting for about 58.0% share of the global waste management industry, followed by Europe and LAMEA

The report analyzes the global waste management market on the basis of type, service, and region. The types of waste covered in this report are municipal waste and industrial waste. The services taken into consideration in the report are collection and disposable services. The collection service segment is further divided into collection & transportation, storage & handling, and sorting. The disposable services segment is sub-classified into landfills, recycling, compositing & anaerobic digestion, and others. The report includes revenue generated from treatment of nonhazardous solid waste of residential and nonresidential users. Further, rise in urban population is expected to result in growth in waste generation. In addition, rise in industries and commercial sector has also led to rise in amount of waste. Moreover, environmental problems such as soil, water and air pollution has raised, owing to unplanned waste dumping over last few years. Environmental awareness has significantly fueled the demand for waste management in developed countries and is incorporating rapidly in developing countries.

During lockdown, owing to COVID-19, the waste production mainly increased from residential areas compared to industrial and commercial centers, as industries and offices were partially or completely shut down so very less industrial and commercial waste was generated. Further, decline in production of new goods led to fall in demand for recyclable material such as rubber and plastic. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-initiation of waste management companies and waste recycle industry at their full-scale capacities

The global waste management market is segmented on the basis of type, service, and region. On the basis of type, the market is divided into municipal waste, industrial waste, and hazardous waste. On the basis of services, it is classified into collection services and disposable services. The collection services segment is sub segmented into collection & transportation, storage & handling, and sorting. The disposable services segment is further segregated into landfills, recycling, compositing & anaerobic digestion and others.

Region wise, the waste management market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, Denmark, Norway, Ireland, Portugal, Greece and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

  • By type, the industrial segment was the highest revenue contributor in 2019.
  • By service, the disposable segment generated the highest revenue in 2019.
  • Region wise, Asia-Pacific garnered the largest waste management market share in 2019

The major players profiled in the waste management market include Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environnement, Waste Management Inc. 

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quote Waste Management Market by Type (Municipal Waste, Industrial Waste and Hazardous Waste) and Service (Collection and Disposable): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

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