Pune, India, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The commercial waste management service market size is predicted to expand owing to the proactive government measures to reduce illegal dumping. Fortune Business InsightsTM has presented this information in its upcoming report titled, "Commercial Waste Management Service Market, 2022-2029". Furthermore, a commercial waste management company can also help businesses establish a zero-waste initiative by utilizing modern monitoring technology and smart waste management.
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List of Key Players in the Market:
- Urbaser Ltd Commercial Services
- Amey
- Waste Management
- Waste Connections
- Advanced Disposal Services, Inc.
- Biffa
- Clean Harbors
- Covanta, Remondis International GmbH
- SUEZ
- Veolia
- Cleanaway Waste Management and Republic Services
COVID-19 Impact -
The current COVID-19 pandemic has had a negative influence on the market. As a result of travel bans and lockdowns enacted by governments around the world, the supply chain was interrupted. As a result, businesses have closed and laborers have become scarce. This minimizes the amount of scrap generated by industries, which leads to a decrease in the use of such services. However, during the pandemic, the medical waste segment generated a massive amount of leftovers, with overall scrap of gloves and face masks increasing by 350%, resulting in over 1200 tonnes of medical garbage, compared to the average surplus leftovers of around 275 tonnes. As a result, the market is predicted to grow over the forecast period.
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Competitive Landscape-
Key Players to Focus on Recycling and Reusing Trash
Many firms are focusing on breakthrough technologies to recycle and reuse trash generated across various businesses and households around the world, making the global waste management market extremely competitive. There are also a number of new startups in the business that are focusing on waste reduction and adhering to the Zero Waste - 3R (Reuse, Reduce, and Recycle) philosophy. For instance, in February 2021, Covanta Fairfax, which operates a waste-to-energy facility in Lorton, Virginia, got the Mount Vernon Lee Chamber of Commerce's Best Large Business of the Year Award.
Industry Developments
March 2021: Urbaser Ltd Commercial Services (ULCS) has taken over Amey's contract for commercial and trade waste collection in Eden, Cumbria.
Report Coverage –
The market study provides a rigorous evaluation of several elements that will impact growth, such as key drivers and limits. Furthermore, the study provides an insight into the geographical analysis, which covers several regions and supports the market's growth. It includes the competitive landscape, which includes the leading companies, as well as strategies for introducing new goods, publicizing partnerships, and collaborating to help the market expand.
Drivers & Restraints –
Global Governments to Invest in Projects to Raise Awareness about Waste Management
Regulatory mandates and legislative directives on proper and efficient commercial waste disposal are being issued by a number of countries and organizations around the world. Governments all across the world are investing in projects to raise waste management knowledge and make recycling a common practice. During the projected period, this factor is expected to drive the global market. However, lack of awareness in underdeveloped companies is likely to hinder the commercial waste management service market growth.
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Segmentation -
On the basis of waste products, the market is bifurcated into food waste and non-food waste. On the basis of application, the market is divided into the collection, transfer, disposal, and others. Geographically, Europe, Asia Pacific, Latin America, North America, and the Middle East & Africa.
Regional Insights –
North America Holds the Largest Share of the Global Market
North America accounted for the largest commercial waste management service market share of the global market because most commercial waste management projects and treatment plants are located in the U.S. Furthermore, the North American market is also developing as a result of increased waste production as a result of increased manufacturing in the U.S. and Canada. Asia-Pacific is the fastest-growing region for the global market due to expanding urbanization and industrialization in developing countries such as China and India. The market in Europe is growing steadily, whereas Latin America, the Middle East, and Africa are predicted to experience a spike by the end of the projection period.
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