Waste Management Market To Grow $542.7 Billion Over The Next Five Years

According to the new market research report published by MarketsandMarkets, the Waste Management Market size is expected to grow from an estimate $423.4 billion in 2021 to $542.7 billion by 2026, with the Asia Pacific regions set to have the biggest growth.

The key drivers for the Waste Management Market include stringent regulations of governments worldwide for better management of waste and initiate environmental protection; strong focus of several governments to conduct awareness programs showcasing importance of waste segregation and waste management; technological advances and shortened life cycle of electronic products help in increasing e-waste.

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This research report categorizes the waste management market based on Waste Type, Service Type, End User, and Region.
Based on the waste type:

Hazardous Waste
E-waste
Plastic Waste
Bio-medical Waste
Others

Based on the service type:

Open Dumping
Incineration/Combustion
Landfill
Recycling
Composting & Anaerobic Digestion

Based on the end user:

Residential
Commercial
Industrial

Based on the region:

North America
Asia Pacific
Europe
Middle East & Africa
South America

Asia Pacific held the largest share of the waste management market in 2020

Asia Pacific has been segmented into countries like Japan, China, India, South Korea, Australia, and Rest of Asia Pacific. Rest of Asia Pacific majorly includes of Malaysia, Singapore, Indonesia, and Thailand. The shift of the Asia Pacific population from rural to urban areas is expected to result in a rapid increase in solid waste generation. The total population in Asia Pacific is expected to reach 5.1 billion by 2050, out of which the urban population is projected to account for at least a 64.0% share.

The industrialization has enhanced urbanization in Asia Pacific region through the migration of rural populations to urban areas and the development of towns into cities. Also, as a result of steady economic growth in the Asia Pacific countries, the households are experiencing a continuous rise in their disposable income, which has eventually contributed to the demand for waste management services. The increasing awareness regarding the impact of non-eco-friendly packaging, such as plastic packaging and other plastic product materials, on the environment has had a major impact on the waste management market in this country.

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Key Market Players

Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US) are the leading players in the waste management market. Biffa (England), Clean Harbors (US), Covanta Holding (US), Daiseki (Japan), Hitachi Zosen (Japan), and other players operating in the market are the leading players in the global waste management market.

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This release was published on openPR.