Waste Management Market Global Opportunity Analysis and Industry Forecast, 2023-2030: Veolia, Republic Services, SUEZ

According to a new report published by Delvens, titled, "Waste Management Market by Waste type (Hazardous Waste, E-waste Plastic Waste, Bio-medical Waste, Others), Service type (Open Dumping, Incineration/Combustion, Landfill, Recycling, Composting & Anaerobic Digestion), End User (Residential, Commercial, Industrial) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)", the Global Waste Management Market size is projected to reach a CAGR of 5.2% from 2023-2030.

Top players covered in the Waste Management Market report: Waste Management, Veolia, Republic Services, SUEZ, Waste Connections, Biffa, Clean Harbors, Covanta Holding, Daiseki, Hitachi Zosen

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Treatment of solid waste through garbage management includes a variety of recycling techniques. Managing debris involves gathering, moving, and getting rid of waste, sewage, and other things. It entails handling solid waste efficiently and safely getting rid of useless goods and substances.

An entirely new technological trend in the market has been sparked by the introduction of smart waste management services. Traditional rubbish collection methods are very resource-intensive and frequently follow predetermined routes. This can occasionally result in the needless waste of resources. The improved garbage collection operations, the identification of waste-filling trends, the optimization of driver schedules, and the reduction of operational expenses are all possible thanks to modern Internet of Things (IoT)-based technologies. Additionally, IoT-based garbage collecting bins are anticipated to be a workable smart solution for waste management in the near future due to the decline in the cost of sensors.

People are more aware of the advantages and disadvantages of handling hazardous solid waste on human health as well as the environment as a result of the widespread availability of solid waste information over time. Effective waste management benefits not just the environment and human health, but also society and the economy. By lowering air, water, and soil pollution, waste management enhances environmental aesthetics and protects natural resources. Timely trash removal helps to enhance personal hygiene while limiting the spread of vector-borne diseases. Additionally, it lessens the production of dangerous greenhouse gases like methane and carbon monoxide, which contribute to the major issue of global warming.

Recent Developments

Biffa Group announced in February 2021 that it has acquired Company Shop Group ('CSG'), the largest and most renowned redistributor of surplus food and household goods in the UK.

Following the completion of the necessary regulatory permissions, in October 2020, Waste Management completed the acquisition of all outstanding shares of Advanced Disposal. When accounting for about USD 1.8 billion of Advanced Disposal's net debt, the previously disclosed purchase price of USD 30.30 per share in cash equals a USD 4.6 billion enterprise value overall.

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Scope of the Waste Management Market Report:

By Waste Type, The waste management industry's e-waste segment commands the market in terms of waste kind. E-waste includes a number of dangerous or toxic compounds, including mercury, brominated flame retardants (BFRs), chlorofluorocarbons (CFCs), and hydrochlorofluorocarbons (HCFCs), among others. The environment and even human health are seriously endangered by the rising levels of e-waste, low collection crates, improper disposal, and treatment of this garbage. E-waste management errors also add to global warming. E-waste products cannot initially replace primary raw materials or lower greenhouse gas emissions from the extraction and refinement of primary raw materials if they are not recycled. Next, some temperature-change equipment's refrigerants produce greenhouse gases.

By service type, The waste management market's landfill segment is anticipated to be the largest by service type. Solid waste is disposed of in well-managed, well-engineered landfills nowadays. To ensure adherence to stated regulations, landfills are planned, situated, run, and monitored. Additionally, they are made to safeguard the environment against toxins that could be found in the waste stream. Landfills are located using on-site environmental monitoring systems, and they cannot be constructed in environmentally sensitive locations. These monitoring devices look for any indication of landfill gas and groundwater contamination. The Resource Conservation and Recovery Act (RCRA) has established strict guidelines for the construction, operation, and closure of landfills.

The waste management market's largest end-user category is anticipated to be the residential sector. By end user, the residential sector accounted for the greatest portion of the waste management market growth in 2020. This category includes waste gathered from single- and multi-family homes. The garbage produced by households is made up of discarded plastic bags, consumer durables, toys, fast-moving consumer goods (FMCG), e-waste, household hazardous wastes, and other packaging materials. The amount of plastic garbage produced by the residential sector has also increased dramatically as a result of rising disposable income and customers' preference for online shopping.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The largest market share was held by Europe. The majority of European countries have high incomes and excellent connections to systems for treating solid waste. Consequently, the average rate of waste collection in European nations is high. Additionally, the region's abundance of waste-to-energy facilities is fueling the market's expansion. In Europe, there are more than 500 waste-to-energy facilities in operation. Additionally, the European Union has created extensive legislation throughout the years to enhance waste management and lower greenhouse gas emissions. In Europe, this is an increasing demand for trash management services.

Regional Analysis

North America to Dominate the Market

Europe dominates the global waste management market and is anticipated to maintain its lead during the forecast period.

The growth is majorly attributed to the presence of more than 500 waste-to-energy facilities in operation. Additionally, the European Union has created extensive legislation throughout the years to enhance waste management and lower greenhouse gas emissions.

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