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Waste Management Market: Segmented:By Waste Type (Hazardous Waste, E-Waste, Plastic Waste, Bio-medical Waste, and Others), By Service Type (Open Dumping, Incineration/Combustion, Landfill, Recycling, Composting & Anaerobic Digestion), By End User (Residential, Commercial, Industrial) And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Waste Management Market to surpass USD 686.1 billion by the end of 2031 from USD 413.2 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031.
Environmental protection requires effective waste management. Its objective is to provide sanitary, cost-effective solid waste storage, efficient, collection, treatment, transportation, and disposal without harming the environment, land, or water system. To live a healthy life in today's world, waste management is critical. It not only improves health by cleaning the environment, but it also maintains the environment, improves the living conditions for sea and land creatures, lowers production costs, and helps businesses make more money.
Rapidly developing economies, urbanization growth has resulted in massive volumes of trash being released into the environment. Globally, present waste and resource management lack a holistic approach that encompasses the entire product design, raw material extraction, manufacture, consumption, recycling, and waste management cycle. The market is emerging owing to a lack of land for active waste disposal and a key focus on resource and energy recovery.
Global Waste Management Market: SegmentsBased on Waste Type, the Waste Management Market is divided into Hazardous Waste, E-Waste, Plastic Waste, Bio-medical Waste, and Others. During the projected period, the e-waste category is expected to lead the waste management market. Electrically-enabled component garbage is comprised in e-waste. Computers, consumer electronics, and refrigerators are examples of these appliances. E-waste is a combination of harmful and useful elements that should be carefully handled and recycled. Hence, e-waste treatment is today more important worldwide to safeguard the environment from the unsafe impacts of risky elements like plastics and lead.
Based on End User, the Waste Management Market is divided into Residential, Commercial, Industrial. In 2020, the residential sector accounted for the greatest proportion of the waste management market by the end-user. The residential segment is expected to generate demand for waste management services due to the rising population and large solid waste generation. Waste created by home end users can be utilized to generate energy in garbage-to-energy plants, which burn solid waste to produce steam in a boiler, as well as to generate electricity.
Market DynamicsFocus on destruction and building of proper waste management is driving the market
Debris and construction waste is quickly expanding around the world, necessitating a variety of management operations such as collection, transportation, disposal, monitoring, and recycling of trash generated by the demolition, construction, or repair of buildings or any other infrastructure. The market is expected to develop due to a focus on demolition and construction waste management solutions.
Growing e-waste due to several factors is driving the market
The market is growing due to an increase in e-waste, which is mostly due to life expiration, technical improvements, or requirement changes. During building activities, waste management entails reducing and reusing materials such as metal, concrete, soil, wood, glass, cardboard, and plastic. This saves garbage from entering landfills and causing contamination, which in turn increases market demand.
Low awareness and importance are given to Waste Disposal
Less sustainability in waste management organizations and limited importance given to waste management are the factors that are expected to hinder the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
By geography, the Waste Management Market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In 2020, Asia Pacific held the highest proportion of the global waste management market. The region's rise in population, growing demand for packaged foods, and high disposable income are only a few of the primary drivers driving waste management growth in the region. Plastic bottles, single-use plastic products, plastic bags, and plastic packaging, among other materials, are a major source of marine plastic pollution in the Asia Pacific.
COVID-19 influenced the waste management industry because of the focus shift; during the lockdown, the residential segment generated more garbage than the industrial and commercial segments, as industries and offices were partially shut down. Reviving economies and resuming manufacturing activities, as well as the launch of vaccination campaigns in several nations, will boost garbage creation and lead to the re-starting of waste recycling and waste management businesses at full capacity.
| Report Attribute | Details |
| Market size value in 2021 | USD 686.1 billion |
| Revenue forecast in 2031 | USD 686.1 billion |
|
Growth Rate |
CAGR of 5.2% from 2021 to 2031 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Waste Type, Service Type, End-User and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environnement, and Waste Management Inc. |
The High Purity Methane Gas Market size was estimated at USD 6.6 billion in 2020 and is expected to reach 11.2 billion by 2030.
Key players: BASF, Osaka Gas, Sumitomo Seika, Linde Plc., Air Liquide, Matheson Tri-Gas Inc, Xergi, and Other Prominent Players
Chemical synthesis segment and Electronics segment are anticipated to hold the largest Geosynthetics Market.
Drivers: Growing use of grapheme and various applicants and Increased demand from electronics and automotive industry
High-purity methane gas is used in the manufacturing process of electronics devices like silicon wafers, solar cells, semiconductors, and electronic components. In the fields of cutting-edge technologies such as nanoparticle diamond, graphene, and monocrystal diamond, high-purity methane gas is garnering interest.
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