Waste Management Market Business Outlook, Analysis & Industry Forecast, 2020–2027 | by Type, Service

According to a recent report published by Allied Market Research, titled, “waste management market by type and service: opportunity analysis and industry forecast, 2020–2027,” the global waste management market size accounted for $2,080.0 billion in 2019, and is expected to reach $2,339.8 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027. In 2019, Asia-Pacific region dominated the global market, in terms of revenue, accounting for about 58.0% share of the global waste management industry, followed by Europe and LAMEA

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The report analyzes the global waste management market on the basis of type, service, and region. The types of waste covered in this report are municipal waste and industrial waste. The services taken into consideration in the report are collection and disposable services. The collection service segment is further divided into collection & transportation, storage & handling, and sorting.

The disposable services segment is sub-classified into landfills, recycling, compositing & anaerobic digestion, and others. The report includes revenue generated from treatment of nonhazardous solid waste of residential and nonresidential users. Further, rise in urban population is expected to result in growth in waste generation. In addition, rise in industries and commercial sector has also led to rise in amount of waste.

Moreover, environmental problems such as soil, water and air pollution has raised, owing to unplanned waste dumping over last few years. Environmental awareness has significantly fueled the demand for waste management in developed countries and is incorporating rapidly in developing countries.

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Covid-19 Impact Analysis

During lockdown, owing to COVID-19, the waste production mainly increased from residential areas compared to industrial and commercial centers, as industries and offices were partially or completely shut down so very less industrial and commercial waste was generated. Further, decline in production of new goods led to fall in demand for recyclable material such as rubber and plastic. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-initiation of waste management companies and waste recycle industry at their full-scale capacities

Key Market Segments

By Type

Municipal Waste
Industrial Waste
Hazardous Waste

By Service

Collection Service
Collection & transportation
Storage & handling
Sorting
Disposable Service
Landfills
Recycling
Compositing & anaerobic digestion

By Region

North America
Europe
Asia-Pacific
LAMEA

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Key Players

Biffa Plc
Clean Harbors, Inc.
Covanta Holding Corporation
Daiseki Co., Ltd.
Hitachi Zosen Corporation
Remondis Se & Co. Kg
Republic Services, Inc.
Suez
Veolia Environnement
Waste Management Inc.

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This release was published on openPR.