The global Waste Management Market size is expected to reach USD 1,966.19 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2023 to 2030. Proactive government measures to decrease illegal dumping and the rising adoption of waste-to-energy (WTE) incineration and recycling techniques are anticipated to boost the market growth.
Rapid
industrialization in developing countries such as India and China generates
waste and causes pollution by the end-use industries. Rising environmental
awareness regarding renewable waste management among individuals and
increasing CO2 emissions across the globe are expected to have a
positive impact on the market growth over the forecast period.
The
adoption of plastics in packaging, consumer goods, transportation,
electrical/electronic, and machinery manufacturing industries is witnessing
significant growth. Rising demand for consumer electronics such as mobiles,
which are typically composed of 40% plastic, PCs/laptops, washing machines,
and dishwashers is expected to boost the market growth.
The
demand for electronic products is rising rapidly globally, resulting in the
increased generation of e-waste. The electronics companies are focusing on the
usage of recycled material for production to limit the environmental
degradation caused by e-waste. The rising demand for recycled materials from
the electronics industry is expected to foster market growth.
The
governments of various countries have introduced regulations regarding the
effective disposal of wastes such as the landfill directive (1999/31/EC)
standards for landfills announced by the European Union. The rising adoption of
these regulations is expected to enhance sustainable waste management practices
including recycling and anaerobic digestion, thereby fueling the market growth.
Companies
are focusing on mergers and acquisitions to increase the consumer base and
expand their geographical presence. For instance, in October 2020, Waste
Management acquired Advanced Disposal Services, providing waste management
services to around new 3 million residential, industrial, and commercial
customers in the U.S.
Related Press
Release@ Waste Management Market Report
Waste Management Market Report Highlights
- The disposal
segment is estimated to expand at the highest CAGR of 5.9% over the
forecast period as the sustainable methods of disposal reduce pollution
and recycled materials can also be used in various end-use industries
- The
industrial waste type segment accounted for the largest revenue share of
over 85.9% in 2022 owing to the increasing generation of waste from
several end-use industries such as oil & gas, chemical, construction,
and electronics
- Asia Pacific
led the industry and accounted for over 24.5% share in 2022 on account of
the rising adoption of various waste management techniques for limiting
the environmental degradation in the region
- India is
estimated to expand at a lucrative CAGR of 7.2% from 2022 to 2030, in
terms of revenue, on account of the rising awareness regarding health
hazards and diseases caused by improper waste disposal in the country
- In May 2021,
SUEZ entered into a partnership with Eramet, a key manufacturer in the
extraction and valorization of metals, to offer a sustainable and
high-performance battery recycling solution for the European market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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