Waste management market growth driven by proactive government measures to reduce illegal dumping | Global industry forecast, 2020–2027

From trimming nails to peeling vegetables, we generate tons of waste every day. The moment the garbage truck goes, we go on living our lives without thinking twice about what happens to the collected waste. Today, waste management is the most challenging task there is, and sadly, it is not been taken seriously.

We follow the throwaway culture. From plastic spoons to disposable gloves, we use and throw objects that can be reusable if we make a few lifestyle changes. Recycling plastic and metal is not a permanent solution and if we aim to minimize waste generation, we need to make a conscious decision while purchasing.

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However, controlling want has become more challenging than ever, due to the social media boom and several other socio-economical factors. Thus, waste management gained colossal importance over the last few years.

According to Allied Market Research, the global waste management market is estimated to reach $2,339.8 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027. Increase in the amount of waste generated, the rise in urban population, and the rise in environmental awareness are the prime factors of the growth of the market.

Key Market Segments

The global waste management market is segmented on the basis of type, service, and region.

On the basis of type, the market is divided into municipal waste, industrial waste, and hazardous waste.

On the basis of services, it is classified into collection services and disposable services. The collection services segment is sub segmented into collection & transportation, storage & handling, and sorting. The disposable services segment is further segregated into landfills, recycling, compositing & anaerobic digestion and others.

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Region wise, the waste management market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, Denmark, Norway, Ireland, Portugal, Greece and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Players

The major players profiled in the waste management market include 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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