Pune, India, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The global industrial waste management market size is expected to gain momentum by reaching USD 1,434.98 billion by 2028 while exhibiting a CAGR of 5.6% from 2021 to 2028. In its report titled “Industrial Waste Management Market, 2021-2028,” Fortune Business Insight mentions that the market stood at USD 937.06 billion in 2020 and is estimated to be USD 979.60 billion in 2021.
Today several developed and developing economies are widely focusing on the development of innovative technology and advanced scrap collection solutions such as advanced sensors are being deployed which alarms garbage management companies that bins are in full need to be serviced. Moreover, E-waste management is also gaining immense popularity around the world. For instance, Dubai’s municipality is installing smart weighbridges and electronics gates at all of its waste disposal sites to make them more sustainable. Such innovations and advancements in managing waste are expected to boost the market during the forecast period.
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What does the Report Provide?
The market report offers a methodical review of numerous factors such as the vital drivers and limitations that will influence growth. Furthermore, the report delivers understandings of the regional analysis that covers different regions, backing to the growth of the market. It comprises the competitive landscape that contains the leading companies and the adoption of approaches to introduce novel products, publicize partnerships, and collaborations to contribute to the market growth.
List of Key Players Profiled in Report
- Suez (France)
- Veolia Environment (France)
- Waste Management Inc.(U.S.)
- Stericycle (U.S.)
- Remondis (Germany)
- Daiseki Co. Ltd. (Japan)
- Clean Harbors (U.S.)
- Biffa (U.K.)
- Covanta Energy (U.S.)
- SembCorp (Singapore)
- Republic Services, Inc. (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.6% |
| 2028 Value Projection | USD 1434.98 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 937.06 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 220 |
| Segments covered | Waste Type, Service, Region |
| Growth Drivers | Increasing E-Waste Management |
| Asia Pacific to Dominate Backed by Increasing Population in Region | |
| Vital Players to Emphasize on New Launches to Reinforce their Market Prospectus |
COVID-19 Impact
The ongoing COVID-19 pandemic situation has adversely impacted the market. The supply chain got disrupted as governments across various countries imposed travel bans and lockdowns. This resulted in the closure of companies and the unavailability of laborers. This reduces the scrap generated from the industries and ultimately leads to a decline in the adoption of such services. However, the medical waste segment generated a huge amount of leftovers amid the pandemic, as overall, gloves and face masks scrap increased by 350% which generates about 1200 tons of medical waste compared to the usual excessive leftovers of around 275 tons. Thus, the market is expected to flourish during the forecast period.
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Competitive Landscape
Vital Players to Emphasize on New Launches to Reinforce their Market Prospectus
The global market industrial waste management holds a huge number of significant companies that are incessantly trying to develop exclusive solutions to satisfy to the demand from across the world. In order to do so, they are collaborating with local or renowned firms, presenting new solutions to strengthen their portfolio in the market. Below is an industry development:
- November 2020 – Mumbai's biomedical waste incineration plant is anticipated to shift out of the city. This process is estimated to be concluded by February 2022.
Market Segmentation:
By waste type, the market is segmented into construction & demolition waste, manufacturing waste, chemical waste, mining waste, oil & gas waste, agriculture waste, nuclear waste, and others. By service the market is divided into landfill, recycling, and incineration.
- Based on service, the landfill segment held a market share of 54.4% in 2020. This is attributable to its effective disposal method and it helps in preventing groundwater pollution as it ultimately impacts the environment and human life.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Regional Insights
The Asia Pacific to Dominate Backed by Increasing Population in Region
The Asia Pacific is expected to remain at the forefront and hold the highest position market during the forecast period. This is attributable to the rising population in the region. Additionally, the expansion of several industries generates a huge amount of scrap in the region. The region’s market stood at USD 320.85 billion in 2020.
North America is expected to showcase significant industrial waste management market share in upcoming years. This is attributable to the increasing awareness regarding the environmental impact caused by garbage. Additionally, stringent rules are imposed by the government on dumping scrap and garbage illegally. For instance, the U.S. government charged USD 7,500 per person for illegal dumping and burning of garbage.
Major Table of content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Industrial Waste Management Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by the Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Industrial Waste Management Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Waste Type
- Construction & Demolition Waste
- Manufacturing Waste
- Chemical Waste
- Mining Waste
- Oil & Gas Waste
- Agriculture Waste
- Nuclear Waste
- Others
- Market Analysis, Insights and Forecast – By Service
- Landfill
- Recycling
- Incineration
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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