Waste Management Market Analysis APAC, North America, Europe, Middle East and Africa, South America - China, US, Germany, Japan, UK - Size and Forecast 2024-2028

Waste Management Market Size 2024-2028

The waste management market size is forecast to increase by USD 223.8 billion, at a CAGR of 8.8% between 2023 and 2028. Market growth in waste management hinges on diverse factors, including stringent recycling laws in Europe, driving the demand for sustainable waste management solutions. Globally, the surge in industrial activities amplifies the need for efficient waste disposal and recycling services to mitigate environmental impact. Urbanization further fuels demand, with rising construction projects necessitating the adoption of construction and demolition (C&D) materials. The integration of C&D materials in urban areas not only addresses waste management challenges but also supports sustainable development initiatives. As regulations tighten and environmental consciousness rises. 

Market Forecasting and Size

Market  Forecast 2024-2028

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Market Dynamics

The market is crucial for environmental sustainability and public health, with international organizations emphasizing extended producer responsibility and circular economy principles. Repurposing and reusing waste, including Plastic Liquid waste and rubber, are vital strategies to mitigate the impact of rapid industrialization and urban population growth on CO2 emissions and waste production. Municipalities are adopting innovative resource and strategy measures, including composting and recycling materials, to address liquid and gas waste. The COVID-19 pandemic has underscored the importance of medical waste management for handling medical waste safely. As the demand for sustainable solutions rises, the market is witnessing significant growth, driven by the need to reduce environmental pollution, conserve resources, and create a healthier and more sustainable future for communities worldwide. 

In addition, debris management and sewage treatment are critical aspects of effective waste management systems, ensuring the proper disposal of waste materials and minimizing environmental pollution. Recycling materials, such as plastics and scrap metals, play a crucial role in reducing landfill waste and conserving resources. Composting organic waste further enhances sustainability by converting it into nutrient-rich soil amendments. In the context of the COVID-19 pandemic, safe handling and recycling of materials are essential to prevent the spread of the virus and maintain public health standards. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Key Market Driver - Laws in Europe for recycling waste

The European market is a leader in composite recycling due to stringent environmental rules implemented by governments in this region and the Horizon 2020 project. In fact, EU citizens have the benefit of being among the best in the world when it comes to environmental standards. The European Union's (EU) ecological regulations safeguard Europe's air, water, and land. Additionally, there are other events that drive the trend toward adopting sustainable composite recycling solutions, including the first major wave of compositing wind turbines approaching their end-of-life (EoL) and getting decommissioned.

Moreover, the adoption of composites in the automobile industry is also increasing. There is a sociotechnical pressure that emphasizes limiting and banning the usage of landfill options and replacing them with composites. For reducing environmental consequences and meeting the demand, the role of composite material recycling is vital, especially in the wind energy sector and the aerospace, automotive, construction, and marine industries. Hence such factors will boost the growth of the market during the forecast period. 

Significant Market Trends - Increasing demand for renewable cleaning

Several industrial processes require hazardous chemicals and complex processes for their production and manufacturing process. Cleaning service-providing companies require several chemicals to clean spills in the industries, disinfectants, and much more. These chemicals could be harmful to health and also have a negative impact on the environment. emphasizing the importance and scope of renewable or green cleaning.

Processes like activated water cleaning, high-flow fluid extraction, and steam vapor technology are used in the green cleaning industry. They offer the benefits of being environmentally friendly while not compromising on the quality of performance. They help improve health and safety inside an industrial building, reduce costs, and also provide the convenience of usage and cleaning operations. Hence such factors are predicted to propel market growth during the forecast period. 

Major Key Challenge - Huge capital investment to discard biomedical waste

The effective management of biomedical waste as it comprises various infectious, toxic, and radioactive materials and sharp hypodermic needles, knives, and scalpels. In fact, out of the approximately 16 billion injections administered annually, not all needles and syringes are properly disposed of afterward. As per the WHO, 30% of healthcare facilities were not equipped to handle existing loads produced in 2020. Effective biomedical waste treatment requires a high-quality treatment unit, and management facility, along with recruiting a separate, dedicated, and skilled workforce, and high capital investment.

Moreover, there is the usage of incarnation for efficient management and the safe removal of any microorganisms. However major disadvantages of this segment include high capital investment for this setup, the problem of odor surrounding the machine, and a high chance of leakage of microwave energy. Hence such factors will limit the growth of the market during the forecast period. 

Market Segmentation

End-user Segment Analysis

The residential segment will account for a major share of the market's growth during the forecast period. Households and individuals generate waste commonly referred to as residential waste or municipal solid waste (MSW) which includes a wide range of materials and products that are used and discarded daily. These include food waste, packaging materials, paper, plastics, glass, textiles, and non-hazardous household items in large volumes. Moreover, with the existing prevalence of consumerism, increasing urbanization, and increasing consumer disposable income, residential waste will increase further. For example, annually there are more than 2.01 billion metric tons of residential waste and this is predicted to rise to 4.3 billion metric tons by 2050.

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The residential segment was valued at USD 130.20 billion in 2018. The global population is projected to reach 10 billion by 2050, as per UN statistics, which further emphasizes the importance of effective strategies such as smart waste management to ensure proper collection, transportation, and disposal or recycling of residential waste. Moreover, several countries follow a waste collection system where residential waste is separated into different categories, such as recyclables, organics, and non-recyclables. This helps to enable efficient sorting and subsequent treatment of the streams. Hence such factors will contribute to market growth of this segment of the market during the forecast period.

Regional Analysis

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APAC is estimated to contribute 33% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. 

In the APAC region, China and India are the largest markets due to them investing massively in new industrial projects which have also increased appeal for various companies to invest in them.  Growing demand for automotive, healthcare, chemical, and electrical and electronic industries goods and services are resulting in numerous companies from these industries setting up bases in this region. All these industries require cost-effective and efficient services that can serve a vast number of industries in this region and are one of the major drivers of the market in the region during the forecast period.

Moreover, factors such as India and China being global manufacturing hubs and the increasing adoption of robots and augmented reality devices will also have a positive impact on the market. Hence such factors are predicted to boost the market growth of the region during the forecast period. 

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Bertin Technologies SAS - The company offers medical waste management processing systems such as Sterilwave 250, Sterilwave 440, and Sterilwave 100.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Bertin Technologies SAS, Biffa Plc, Clean Harbors Inc., Covanta Holding Corp., Daiseki Co. Ltd., FCC SA, GEPIL, Hasiru Dala Innovations Pvt. Ltd., HFCL Ltd., Hitachi Zosen Corp., Republic Services Inc., RETHMANN SE and Co. KG, SAAHAS WASTE MANAGEMENT Pvt. Ltd., Stericycle Inc., SUEZ SA, URBASER SA, Valicor Inc., Veolia Environnement SA, Waste Connections Inc., and Waste Management Inc. 

Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• End-user Outlook  
  • Residential
  • Commercial
  • Industrial
• Service Type Outlook  
  • Landfill
  • Open dumping
  • Incineration
  • Recycling
  • Composting and anaerobic digestion
• Region Outlook  
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

Market Analyst Overview

Waste management is a critical aspect of modern sustainability initiatives, with the market continuing to grow due to increasing environmental awareness and stringent regulations. The waste management industry encompasses various processes such as collection, transportation, treatment, and disposal. The market is driven by factors like growing population, urbanization, and rising consumer awareness. Technologies like artificial intelligence and the Internet of Things are revolutionizing waste management, making it more efficient and cost-effective. The market is segmented based on waste type, technology, and region. Waste types include municipal solid waste, industrial waste, and hazardous waste. Technologies include Waste-to-energy solutions, recycling, and landfill gas utilization. Effective marketing strategies for waste management companies include highlighting their eco-friendly practices, showcasing their advanced technologies, and emphasizing their role in reducing carbon footprints. Companies can also collaborate with governments and NGOs to promote waste reduction and recycling initiatives.

In addition, the smart waste bins equipped with waste level sensors enable efficient garbage management by monitoring and optimizing waste collection routes. AI recycling robots contribute to enhanced recycling processes by sorting and segregating Recycled materials effectively. Renewable energy solutions, such as waste-to-energy technologies, offer sustainable alternatives to traditional landfilling and Incineration/Combustion methods, reducing the environmental impact of waste disposal. Despite advancements, challenges persist, including the lack of infrastructure for proper waste management and the proliferation of e-waste in a linear economy. Companies like Eramet and Groupe Renault are leading the way in sustainable waste management practices, emphasizing the importance of recycling materials and embracing circular economy principles. As the world grapples with environmental concerns and the aftermath of the COVID-19 pandemic, efficient waste management solutions are crucial for safeguarding public health and preserving the environment for future generations.

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What are the Key Data Covered in this Waste Management Market Research Report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the waste management market between 2024 and 2028

• Precise estimation of the size of the market growth and trends and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Market growth and forecasting across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth analysis of factors that will challenge the growth of market  companies

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