Waste Management Market to Garner $530.0 Billion, by 2025 with winning companies: CLEAN HARBORS, INC., Daiseki Co. Ltd., Waste Management Inc., Suez Environment S.A., Advanced Disposal Services, Veolia Environment S.A, Covanta, Remondis AG & Co. Kg, Biffa
Surge in urban population, rise in environmental awareness, and high growth potential in the developing countries are expected to propel the growth of the global waste management market.
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Allied Market Research recently published a report, titled, ": Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers detailed analyses of the drivers & restraints, top investment pockets, key growth strategies, market size & estimations, and competitive landscape. According to the report, the global waste management market accounted for $303.6 million in 2017 and is expected to reach $484.9 million by 2025, registering the CAGR of 6.0% during the period 2018-2025.
Waste management is the process of collecting, transporting, disposing, or recycling, and monitoring of waste. Rise in environmental concerns along with inevitable increase in nonhazardous waste, owing to rapid economic growth across developing nations drive the demand for waste management services. The other key factors that boost the growth of the waste management market include growth in adoption of recycling techniques, development of innovative technologies, and advanced waste collection solutions to enhance collection processes.
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Municipal waste segment to retain dominance through 2025
The municipal waste segment held the largest share in 2017, contributing more than 54% of the total market revenue, owing to growth in urban population and increase in illegal dumping. However, the industrial waste segment is expected to manifest the fastest CAGR of 6.2% during the forecast period, owing to rapid industrialization and shift of industrial production from developed to developing regions.
Disposal segment to create lucrative opportunities through 2025
The disposable services segment reaped the largest share in 2017, contributing about half of the market share, owing to rise in environmental awareness and strict government regulation for illegal dumping. Moreover, the segment is estimated to register the fastest CAGR of 6.9% during the study period. The other segment of waste collection services is expected to show gradual growth through 2025.
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Asia-Pacific to manifest the fastest growth by 2025
Asia-Pacific region is expected to portray the fastest CAGR of 6.6% during the forecast period, owing to improvement in infrastructure, increase in waste management reforms, and surge in urban population in emerging markets. However, Europe governs the market in terms of revenue, contributing more than one-third of the market share, owing to rapid growth in population, increase in usage of secondary raw materials, and rise in awareness about sustainable waste treatment solution. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
The major players profiled in the report include Advanced Disposal Services, Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis AG & Co. Kg, Suez Environment S.A., Veolia Environment S.A., Waste Management Inc. These players focus on expanding their business operations in emerging countries by adopting various strategies, such as acquisitions and contracts/agreements.
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