Chicago, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Waste Management Market size is expected to reach USD 542.7 billion by 2026, at a CAGR of 5.1% during the forecasted period, as per the recent study by MarketsandMarkets™. Stringent regulations of governments worldwide for better management of waste and initiate environmental protection; strong focus of several governments to conduct awareness programs showcasing importance of waste segregation and waste management; technological advances and shortened life cycle of electronic products help in increasing e-waste are the key factors driving the Waste Management Market.
for better management of waste and initiate environmental protection; strong focus of several governments to conduct awareness programs showcasing importance of waste segregation and waste management; technological advances and shortened life cycle of electronic products help in increasing e-waste.
Browse in-depth TOC on "Waste Management Market”
151 - Tables
51 - Figures
229 - Pages
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Scope of the Report
| Report Metric | Details |
| Waste Management Market Size Values |
|
| Base Year | 2021 |
| Forecast Period | 2021–2026 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | Waste Type, Service Type, End User, and Region |
| Geographic Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America. |
| Companies Covered | Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US),. Biffa (England), Clean Harbors (US), Covanta Holding (US), Daiseki (Japan), Hitachi Zosen (Japan), and other |
The e-waste segment by waste type is estimated to be the largest market for waste management, from 2021 to 2026. The growth of the wired segment is driven by the rapid urbanization, transforming urban mobility, and increased need to reduce carbon emissions. The market for the e-waste segment in Asia Pacific is expected to grow at the highest CAGR during the forecast period. E-waste includes electrically powered component waste. They include appliances such as computers, consumer electronics, and refrigerators. E-waste is a mixture of useful and hazardous materials that demand careful handling and recycling of materials. Thus, e-waste management has gained importance globally to secure the environment from the adverse effects of the materials such as lead and plastics.
This research report categorizes the Waste Management Market based on Waste Type, Service Type, End User, and Region.
Based on the waste type:
- Hazardous Waste
- E-waste
- Plastic Waste
- Bio-medical Waste
- Others
Based on the service type:
- Open Dumping
- Incineration/Combustion
- Landfill
- Recycling
- Composting & Anaerobic Digestion
Based on the end user:
- Residential
- Commercial
- Industrial
Based on the region:
- North America
- Asia Pacific
- Europe
- Middle East & Africa
- South America
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Based on service type, the recycling segment is expected to grow at the fastest CAGR from 2021 to 2026. The growth of this segment is driven owing to high essentiality to reduce greenhouse gas emission. Recycling, recovery, and reprocessing of waste materials are useful to produce new products. The basic phases in recycling are the collection of waste materials, their processing into new products, and purchasing of those products, which may then themselves be recycled. Typical materials that can be recycled are iron and steel scraps, aluminum cans, glass bottles, paper, wood, and plastics. The materials reused in recycling serve as substitutes for raw materials obtained from such increasingly scarce natural resources as petroleum, natural gas, coal, mineral ores, and trees. Recycling can help reduce the quantities of solid waste deposited in landfills, which has become increasingly expensive. Recycling also reduces the pollution of air, water, and land, resulting from waste disposal. Recycling helps reduce energy usage, decrease the amount of new/fresh raw materials, and minimize greenhouse gas emissions.
Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.
Asia Pacific accounted for the largest share of the global Waste Management Industry in 2020. The region has been segmented, by country, into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Rest of Asia Pacific mainly includes Singapore, Malaysia, Thailand, and Indonesia. The population growth in the region, the high disposable income of the people, and the increased demand for packaged food products are among a few major factors that drive the growth of waste management in the region. Asia Pacific is also a key contributor to marine plastic pollution. The materials involved include plastic bottles, plastic bags, single-use plastic items, and plastic packaging, among others. Key countries responsible for this kind of pollution include China, Indonesia, and Thailand.
Key Market Players
The key players in the Waste Management Companies include companies such as Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US).
Recent Developments
- FCC Environmental Services acquired Wastech Services Ltd. in 2021, expanding its operations in Canada and strengthening its presence in the Waste Management Market.
- China Everbright International acquired Veolia China in 2021, marking its entry into the Chinese Waste Management Market and expanding its global presence..
- Biffa, one of the largest waste management companies in the UK, acquired Company Shop Group's commercial waste business in 2021, expanding its operations in the food waste management sector.
- In October 2020, Waste Management acquired Advanced Disposal Services, a solid waste management company. This acquisition allowed Waste Management to deliver unparalleled access to differentiated, sustainable waste management and recycling services to approximately 3 million new commercial, residential, and industrial customers, primarily located in 16 states in the eastern half of the US.
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