New York, United States , Sept. 13, 2023 (GLOBE NEWSWIRE) -- The Global Liquid Waste Management Market Size is to grow from USD 96.30 billion in 2022 to USD 126.93 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period.
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Liquid waste management encompasses the handling, treatment, and disposal of liquid waste from diverse sources such as households, industries, and commercial establishments. The process involves collecting, segregating, and transporting liquid waste to treatment facilities for appropriate processing. Various treatment methods, including physical, chemical, and biological processes, are employed to remove pollutants and contaminants. The objective is to ensure compliance with environmental regulations, minimize health and environmental risks, and promote sustainability. Proper liquid waste management safeguards public health, protects the environment, and conserves natural resources, contributing to a cleaner and safer living environment for all.
Browse key industry insights spread across 212 pages with 129 Market data tables and figures & charts from the report on, "Global Liquid Waste Management Market Size, Share, and COVID-19 Impact Analysis, By Source (Residential, Commercial, and Industrial), By Service (Transportation, Collection, and Treatment, Disposal/ Recycling), By Industry Vertical (Textile, Paper, Iron & Steel, Automotive, Pharmaceutical, Oil & Gas, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032". Get Detailed Report Description Here:
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The commercial segment is expected to grow at a CAGR of around 2.5% during the forecast period.
Based on the source, the global liquid waste management market is segmented into residential, commercial, and industrial. The commercial segment is poised for significant growth during the forecast period in the liquid waste management market. This growth can be attributed to the expansion of commercial activities, including industries, businesses, offices, hotels, and restaurants, leads to a higher volume of liquid waste generation. As these commercial establishments strive to comply with environmental regulations and maintain sustainable practices, the demand for professional liquid waste management services increases. The growing awareness of corporate social responsibility and environmental sustainability drives commercial entities to seek efficient waste management solutions. They recognize the importance of proper liquid waste disposal to protect the environment, conserve resources, and maintain a positive public image. Furthermore, stricter regulations and enforcement by authorities regarding liquid waste disposal encourage commercial establishments to invest in reliable waste management systems and services. This includes the implementation of proper waste collection, segregation, treatment, and recycling practices.
The oil & gas segment held the largest market share with more than 32.4% in 2022.
Based on industry vertical, the global liquid waste management market is segmented into textile, paper, iron & steel, automotive, pharmaceutical, oil & gas, and others. The oil & gas segment has maintained the largest market share in the liquid waste management market. This can be attributed to the substantial volume of liquid waste generated by the industry during exploration, production, and refining activities. The oil & gas sector produces various types of liquid waste, including drilling fluids, produced water, and refinery effluents, which require proper management to mitigate environmental impacts. Additionally, stringent regulations and industry standards compel oil & gas companies to adopt efficient waste management practices. The sector's significant market share is driven by the combination of high waste generation, regulatory compliance, and the industry's recognition of the importance of sustainable waste management practices.
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Europe is predicted to grow at a higher CAGR of around 3.7% over the projected period.
Based on region, Europe is expected to witness significant growth in the forecast period in the field of liquid waste management. The region's growing population, industrial activities, and urbanization are contributing to increased liquid waste generation. Additionally, Europe has been proactive in implementing stringent environmental regulations and promoting sustainable practices. This has led to a heightened focus on advanced treatment technologies and efficient waste management systems. Furthermore, the European Union's Circular Economy Action Plan emphasizes resource efficiency and waste reduction, creating opportunities for innovative liquid waste management solutions. The region's commitment to environmental sustainability, coupled with its well-established infrastructure and strong research and development capabilities, positions Europe for substantial growth in the liquid waste management market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global liquid waste management market include Veolia, Waste Management Solutions, Clean Harbors Inc., Clean Water Environmental, Liquid Environmental Solutions, DC Water, Covanta Holding Corp., Stericycle, Inc., U.S. Ecology, Inc., Republic Services, Inc., and Hazardous Waste Experts.
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