Dublin, April 30, 2024 (GLOBE NEWSWIRE) -- The "Global Waste Management Market by Waste Type (Hazardous Waste, E-Waste, Municipal Solid Waste, Medical Waste, Construction & Demolition, Non-Hazardous Industrial Waste), Disposal (Open Dumping, Incineration/Combustionl), Source & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Waste Management Market is projected to reach USD 1.59 trillion by 2029 from an estimated USD 1.21 trillion in 2024, at a CAGR of 5.6% during the forecast period. Advancements in waste treatment and disposal technologies, such as waste-to-energy conversion, recycling technologies, and advanced landfill management techniques, are revolutionizing the waste management sector, making it more efficient and environmentally friendly.
Open dumping: The second fastest growing segment of the Waste management market, by disposal method
Based on the Disposal method, the waste management market is segmented into six categories: Open Dumping, Incineration/Combustion, Landfill, Recycling, Composting & Anaerobic Digestion. Open dumping is the second fastest segment by disposal method in the forecast period. Because of historical habits and the issues it presents, open dumping is a key sector of trash management. Open dumping is the practice of disposing of rubbish in an unprotected way, which poses a number of environmental and health hazards. Despite the negative consequences, open dumping has long been employed as a cost-effective waste management method, particularly when it helped keep rubbish away from populated areas, minimizing exposure to illness and odors. It also entails dumping garbage into water bodies. It has resulted in the damage or degradation of critical habitats for aquatic animals, coastal erosion, pollution, and harm to marine life due to entanglement or ingestion of plastic waste.
By waste type, Construction & Demolition segment is expected to be the second largest segment during the forecast period
Based on waste type, the waste management market is categorized into six categories: Hazardous Waste, E-Waste, Municipal Solid Waste, Medical Waste, Construction & Demolition, Non-Hazardous Industrial waste. The Construction & Demolition waste is expected to be the second largest segment by waste type. Concrete, steel, wood goods, bricks, and masonry are all examples of construction and demolition trash. The rise in building and demolition waste is a major environmental concern, caused by factors such as urbanization, infrastructural expansion, and population growth. The market for building and demolition waste management is predicted to expand steadily, with an emphasis on sustainable waste management practices, material reclamation, and green construction standards to reduce the environmental impact of this waste stream.
By Source, Industrial segment is expected to be the fastest growing segment during the forecast period
Based on the source, the Waste management market is segmented into Residential, Commercial, Industrial. The Industrial segment is expected to be the fastest-growing segment by source of the Waste management market during the forecast period. The industrial waste management market is expanding rapidly as a result of the variables described in the aforementioned sources.
The growing number of industries worldwide, driven by urbanization and industrialization trends, is a major factor for the industrial waste segment's rapid rise. As enterprises grow and diversify, there is a greater need for effective waste management solutions that can handle a wide range of waste, including hazardous materials, solid waste, and wastewater. This growth in industrial activity causes a commensurate increase in the volume and complexity of industrial waste output, demanding more advanced waste management strategies and technology to meet the multiple waste streams produced by various industries.
Asia Pacific is expected to be the fastest growing region in the Waste management market
Asia Pacific is expected to be the fastest growing region in the Waste management market during the forecast period. The Asia Pacific area is witnessing rapid expansion in the waste management business as a result of numerous main causes described in the sources. One key driver is the region's growing environmental awareness, which has led to a greater emphasis on erasing carbon footprints, decreasing pollution, and implementing sustainable waste management procedures.
The shift towards a circular economy model, which emphasizes recycling, waste reduction, and sustainable practices, is encouraging businesses to design products with recyclability in mind and implement efficient recycling processes, thus driving the demand for advanced and eco-friendly waste management solutions.
Research Coverage
The report defines, describes, and forecasts the global Waste management market by, by waste type, disposal method, source and Region. It also offers a detailed qualitative and quantitative analysis of the market.
The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Waste management market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 293 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.21 Trillion |
| Forecasted Market Value (USD) by 2029 | $1.59 Trillion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Waste Management Market Snapshot
- North America Held Largest Share of Waste Management Market in 2023
- Non-Hazardous Industrial Waste Segment to Command Waste Management Market in 2029
- Landfills Segment to Dominate Waste Management Market in 2029
- Industrial Segment to Account for Largest Share of Waste Management Market in 2029
Premium Insights
- Attractive Opportunities in Waste Management Market - Adoption of Circular Economy Principle to Boost Market Growth Between 2024 and 2029
- Waste Management Market, by Region -Asia-Pacific to Exhibit Highest CAGR in Waste Management Market During Forecast Period
- Waste Management Market in North America, by Source and Country -Industrial Segment and US Held Largest Shares of Waste Management Market in North America in 2023
- Waste Management Market, by Waste Type - Non-Hazardous Industrial Waste to Dominate Market, by Waste Type, in 2029
- Waste Management Market, by Disposal Method - Landfills Segment to Account for Largest Share of Waste Management Market, by Disposal Method, in 2029
- Waste Management Market, by Source -Industrial Segment to Lead Waste Management Market, by Source, in 2029
Key Market Dynamics
Drivers
- Stringent Regulations to Enhance Waste Management Practices for Environmental Protection
- Development of Innovative Waste Management Technologies
Restraints
- Absence of Necessary Framework for Waste Collection and Segregation and Awareness Programs
- Lack of Infrastructure and Investment
Opportunities
- Rapid Industrialization and Construction Activities in Developing Countries
- Adoption of Circular Economy and Recycling Strategies
Challenges
- Controlling Environmental Pollution Caused by Illegal Transport of E-Waste from Developed to Developing Countries
- Declining Plastic Recycling Rates due to Cost Challenges
Technology Analysis
Key Technologies
- Incineration
- Open Dumping
- Recycling
Complementary Technologies
- Solar-Powered Trash Compactors
- Automated Recycling Centers
- Plasma Gasification
Adjacent Technologies
- Composting and Anaerobic Digestion
- Gasification
- Smart Waste Bins
- Waste Level Sensors
- AI Recycling Robots
- Garbage Truck Weighing Mechanisms
- Pneumatic Waste Pipes
Case Study Analysis
- Biffa Processed Waste Backhauled from Sainsbury's Supermarkets to Create Refuse-Derived Fuel
- FHCC Implemented Cold Composting to Meet Waste Reduction Objective
- Naval Station Great Lakes Implemented Composting Program to Boosts Waste Diversion
Companies Featured
- WM Intellectual Property Holdings
- Suez
- Veolia
- Waste Connections
- Republic Services
- Biffa
- Clean Harbors, Inc.
- Covanta Holding Corporation
- Daiseki Co. Ltd.
- Hitachi Zosen Corporation
- Remondis SE
- Urbaser
- Stericycle, Inc.
- GFL Environmental Inc.
- Bingo Industries
- FCC Environmental Services
- Biomedical Waste Solutions
- Valicor
- Recology
- Estre
- Recyglo Company Pte. Ltd.
- Recycle Track Systems
- Recycling Technologies Ltd.
- Rekosistem
- Saahas Zero Waste
For more information about this report visit https://www.researchandmarkets.com/r/rg9wcp
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