Austin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Solid Waste Management Market Share was valued at USD 325.7 billion in 2023 and is expected to reach USD 440.1 billion by 2032 and grow at a CAGR of 3.4% over the forecast period 2024-2032.
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Major Companies Listed in the Report:
- Waste Management Inc
- Republic Services
- SUEZ
- Veolia
- Biffa PLC
- Clean Harbors
- Covanta Holding
- Daiseki
- Hitachi Zosen
- Stericycle Inc.
The solid waste management market is growing significantly owing to advancements in technology and strong government initiatives that encourage sustainable practices for waste management. A United Nations Environment Programme report in August 2024 proved to be a pivotal factor in infusing the need to change from conventional methods to an approach based on resources, particularly in regions such as North America and Europe, where environmental regulations proved very stringent. As this shift happens, there will be greater scope for innovation within waste-to-resource technologies that will transform the market. Secondly, public-private partnerships will serve to enhance the efficiency of the systems regarding waste management by embracing smart solutions making use of insights into analytics, IoT, and AI to optimize waste collection and recycling. The technology segment, holding an estimated 40% market share in the year 2023, is leading this transformation with advanced technologies in waste sorting and recycling gathering momentum across municipalities, industry, and commerce.
Other contributing factors include growing consumer awareness of the environmental impacts of inadequate waste handling, which drives demand for sustainable solutions in high-waste urban centers. Large cities such as New York and London are implementing advanced recycling programs that reduce landfill waste but create revenue due to the products of the processed materials. This trend is only likely to continue. The market is further supported by the increased focus on circular economy principles aimed at cutting down on waste and enhancing resource efficiency. According to a study done this July 2023 by the American Society of Civil Engineers, such practices reduce greenhouse gas emissions and conserve natural resources. These are gaining momentum, even in developing regions where waste management infrastructure remains in its evolving stages.
Solid Waste Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 325.7 billion |
| Market Size by 2032 | USD 440.1 billion |
| CAGR | 3.4% CAGR by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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| Major Regions Covered |
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Segment Analysis
The Municipal Waste segment dominated the Solid Waste Management Market in 2023, with an estimated 45% market share. This is likely to be majorly credited to increasing urbanization and, with it, a rise in municipal waste generation, especially in highly populated areas and cities. For example, cities like New York and Tokyo are now major concerns in terms of municipal waste management, hence the need for effective systems of waste collection, recycling, and disposal. The governments in these regions are regulating strictly to handle the growing volumes of waste effectively and efficiently, thereby encouraging the adoption of advanced technologies and best sustainable practices. Additionally, a "Zero Waste" target, set by some cities such as San Francisco, is quite an ambitious target in reducing waste to landfill, which further increases the quantum of the municipal waste management segment. Strategic investment in these facilities and recycling infrastructure has also helped the segment lead in ensuring the effective and sustainable management of municipal waste.
Trends Analysis: Solid Waste Management Market
The solid waste management market is increasingly shifting toward zero-waste initiatives and sustainable means of waste disposal. Governments and organizations are more interested in reducing waste at their generation stage and promoting recycling and composting as viable alternatives. Japan, for example, has gained the leading position in municipal waste management with the adoption of strict recycling policies coupled with the investment in energy-from-waste technologies. Another core developing trend in the economy of waste management would be the use of AI and IoT in operations. These technologies help companies develop processes for waste collection, reduce operational costs, and further improve the efficiency of the whole system.
Comparative Overview of Waste Management Regulations: EPA Guidelines and Nova Scotia’s Solid Waste-Resource Management
The United States Environmental Protection Agency, much like Nova Scotia's Solid Waste-Resource Management Regulations, focuses on encouraging good waste management practices in ways that protect human health and the environment. The EPA guidelines, under the Resource Conservation and Recovery Act, spell out safe handling, treatment, and disposal methods for hazardous and non-hazardous waste, emphasizing recycling, composting, and waste reduction to support a circular economy. It finds complementarity in the regulations of Nova Scotia, as it binds to separate recyclables, compostables, and hazardous waste. This further encourages municipalities and producers in the pursuit of sustainable waste management practices that reduce landfilling. Both frameworks call for increased source reduction of waste and the strengthening of recycling processes to reduce environmental burden, thus showing a shared commitment to sustainability and resource conservation.
Regional Analysis
In 2023, North America dominated the Solid Waste Management Market in 2023, with an estimated market share of 35%. This is because the region has one of the finest infrastructures for proper waste management and also possesses strict environmental policies. For example, the United States has integrated comprehensive policies toward waste management, which include effective recycling programs and waste-to-energy facilities. Such programs and facilities help in the attainment of proper waste disposal of the huge amount of municipal and industrial waste being produced. Zero-waste goals in cities like San Francisco and New York drive in advanced technologies for recycling, setting a global benchmark in terms of efficiency related to waste management. It is further reinforced by North American innovations within the framework of waste management and regulations that ensure proper segregation and recycling of waste.
Key Takeaways:
- The adoption of innovative technologies like AI and IoT in the modern world is making waste management systems much more efficient.
- More and more stringent regulations and government policies are drastically changing the concept of waste management to sustainability.
- Increased urbanization results in an increase in municipal waste, hence the need for an effective way of managing it.
- Growing interest in the circular economy, where maximum attention is turned to minimal waste and maximum recovery of resources.
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Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Vehicle Production and Sales Volumes, 2020-2032, by Region
5.2 Emission Standards Compliance, by Region
5.3 Vehicle Technology Adoption, by Region
5.4 Consumer Preferences, by Region
5.4 Aftermarket Trends (Data on vehicle maintenance, parts, and services)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Solid Waste Management Market Segmentation, By Waste
- Industrial Waste
- Municipal Waste
- Residential
- Others
8. Solid Waste Management Market Segmentation, By Material
- Organic Matters
- Plastics
- Paper & Paperboard
- Glass & Metal
- Others
9. Solid Waste Management Market Segmentation, By Treatment Method
- Collection
- Processing
- Recycling
- Compositing
- Disposal
- Open Dump & Landfilling
- Incineration
- Others
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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