Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Waste Management Global Market Insights 2024, Analysis and Forecast to 2029, by Market Participants, Regions, Technology, Application, Product Type" report has been added to ResearchAndMarkets.com's offering.
As concerns over environmental sustainability grow, the waste management sector plays a critical role in mitigating pollution, conserving natural resources, and reducing greenhouse gas emissions.
The expanding urban population and increasing waste generation are key drivers of this market's growth. In developed regions, regulations enforcing strict waste management practices have propelled market expansion, while developing countries have begun investing in waste management facilities to handle rampant urbanization. By 2029, Asia-Pacific is expected to account for over 40% of the global market share, driven largely by countries such as China and India, which are facing burgeoning waste generation due to high population density and industrialization.
Market Share & Trends Analysis Report
By Product Type
Waste management services can be broadly categorized into solid waste management, liquid waste management, and hazardous waste management. The solid waste management segment holds the largest market share, accounting for nearly 64% of the total market in 2023. This segment includes services such as collection, recycling, and disposal pertinent to municipal solid waste and construction debris.
By Key Players
The waste management market is characterized by the presence of several key players who dominate and influence the market dynamics.
Some of the key players in the waste management market include:
- Waste Management, Inc.
- SUEZ
- Veolia Environmental Services
- Republic Services, Inc.
- Clean Harbors, Inc.
These companies employ advanced technologies for efficient waste processing and develop innovative business models that promote sustainability and waste reduction.
By Process
The waste management process can be segmented into collection, transportation, treatment, recycling, and disposal. The collection and transportation segment remains the largest contributor, representing approximately 45% of the market share in 2023, while recycling processes are gaining momentum due to rising awareness regarding resource conservation.
By Application
Applications of waste management services span a diverse range of industries, including residential, commercial, industrial, and construction. The industrial segment is a significant contributor to market demand due to stringent regulations to manage industrial waste and prevent environmental degradation.
By End-Use
The end-use segment includes municipal, construction, and industrial sectors. The municipal segment dominates the market with over 55% share in 2023, primarily driven by increasing urbanization and regulatory pressure for proper waste disposal.
By Region
Regionally, North America, particularly the United States, remains a dominant market due to advanced technology adoption and high standards of waste management. The Asia-Pacific region is anticipated to witness the highest growth during the forecast period, fueled by rapid urbanization and economic development.
Market News on Policy and Companies
Recent developments in waste management policies reflect the growing importance of sustainable practices. In October 2023, the European Union proposed new regulations aimed at reducing plastic waste by mandating the reduction of single-use plastic items and promoting recycling initiatives. Meanwhile, companies like Veolia and SUEZ are significantly investing in technologies related to waste-to-energy processes and intelligent waste management systems to stay ahead in a competitive market.
Segment Forecasts (2024 - 2029)
Looking forward, the waste management market is expected to manifest notable growth across various segments:
- Product Type: Solid waste management is forecasted to continue leading, with an expected growth rate of 7.6% CAGR, as more municipalities initiate comprehensive waste management systems.
- By Process: The recycling segment is projected to grow significantly, reaching a market size of approximately $660 billion by 2029 due to increasing efforts towards circular economy models.
- By Application: The commercial and industrial sectors are expected to drive increased demand for waste management services, anticipated to witness a growth CAGR of 8%.
- By Region: The Asia-Pacific region is forecasted to expand rapidly, surpassing North America in market share by 2027.
As the waste management market evolves, a combination of regulatory pressures, technological advancements, and increasing public awareness about sustainability continues to shape the industry's landscape. Market participants are likely to focus on innovation and operational efficiencies to meet future demands and challenges.
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Waste Management Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Historical and Forecast Waste Management Market in North America (2019-2029)
8.1 Waste Management Market Size
8.2 Waste Management Market by End Use
8.3 Competition by Players/Suppliers
8.4 Waste Management Market Size by Type
8.5 Key Countries Analysis
Chapter 9 Historical and Forecast Waste Management Market in South America (2019-2029)
9.1 Waste Management Market Size
9.2 Waste Management Market by End Use
9.3 Competition by Players/Suppliers
9.4 Waste Management Market Size by Type
9.5 Key Countries Analysis
Chapter 10 Historical and Forecast Waste Management Market in Asia & Pacific (2019-2029)
10.1 Waste Management Market Size
10.2 Waste Management Market by End Use
10.3 Competition by Players/Suppliers
10.4 Waste Management Market Size by Type
10.5 Key Countries Analysis
Chapter 11 Historical and Forecast Waste Management Market in Europe (2019-2029)
11.1 Waste Management Market Size
11.2 Waste Management Market by End Use
11.3 Competition by Players/Suppliers
11.4 Waste Management Market Size by Type
11.5 Key Countries Analysis
Chapter 12 Historical and Forecast Waste Management Market in MEA (2019-2029)
12.1 Waste Management Market Size
12.2 Waste Management Market by End Use
12.3 Competition by Players/Suppliers
12.4 Waste Management Market Size by Type
12.5 Key Countries Analysis
Chapter 13 Summary For Global Waste Management Market (2019-2024)
13.1 Waste Management Market Size
13.2 Waste Management Market by End Use
13.3 Competition by Players/Suppliers
13.4 Waste Management Market Size by Type
Chapter 14 Global Waste Management Market Forecast (2024-2029)
14.1 Waste Management Market Size Forecast
14.2 Waste Management Application Forecast
14.3 Competition by Players/Suppliers
14.4 Waste Management Type Forecast
Chapter 15 Analysis of Global Key Vendors
- Republic Services
- Waste Connections
- Stericycle
- Casella Waste Systems
- Clean Harbors
- Heritage-Crystal Clean
- US Ecology
- Veolia
- Suez
- Rumpke
- Heritage Environmental Services
- Cleanaway Waste Management
- Dongjiang Environmental Company Limited (DJE)
- GEM
- China Resources And Environment
- China Tianying
- Beijing GeoEnviron Engineering & Technology (BGE)
- Feinan Resources
- ZHEFU
- Tus-Holdings
- Rubicon Global
- Bioenergy DevCo
- PegEx
- Recycle Track Systems
- Liquid Environmental Solutions
- Deep Green Waste & Recycling
- GFL Environmental
For more information about this report visit https://www.researchandmarkets.com/r/vwwvwl
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