Waste Management Market to be Worth $703.9 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Waste Management Market by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling, Recycling, Incineration), and Source (Residential, Commercial, Municipal, and Industrial)-Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the waste management market is projected to reach $703.9 billion by 2030, at a CAGR of 4.9% during the forecast period.
The market's growth is driven by government regulations for waste management, increased consumer awareness about environmental protection, and the growing adoption of smart waste management technology. Furthermore, technological advancements in waste management devices and initiatives for E-waste management are expected to create market growth opportunities.
However, the requirement of a huge capital investment restrains the growth of this market. Additionally, the lack of a proper disposable/dumping system in ASEAN markets and the high cost of recycling E-devices pose major challenges for the players in this market. Furthermore, advancements in waste-to-energy technology and the adoption of intelligent waste management solutions are the key trends observed in the waste management market.
The waste management market is segmented by waste type, waste management method, and source. The study also evaluates industry competitors and analyzes the market at the region/country level.

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Based on waste type, the waste management market is segmented into hazardous waste, industrial waste, municipal solid waste, e-waste, plastic waste, biomedical waste, and other waste. In 2023, the hazardous waste segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth and the associated increase in demand for goods and services, growth in trade in chemical products, increased use of oils and pesticides, and a rise in the number of hazardous components in household waste.

Based on waste management method, the waste management market is segmented into landfilling, recycling, incineration, biological reprocessing, waste-to-energy, and other waste management methods. In 2023, the landfilling segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to the rising awareness regarding waste disposal and the advantages of landfilling, such as the use of well-engineered managed facilities, ensuring environmental protection from contaminants. Additionally, landfills are strategically placed using on-site environmental monitoring systems, which help to maintain public health.

Based on source, the waste management market is segmented into residential, commercial, municipal, and industrial. The industrial segment is further sub-segmented into food & beverage, automotive, semiconductor & electronics, BFSI, aerospace & defense, machinery & metal, pharmaceutical, and other industries. In 2023, the residential segment is expected to account for the largest share of the global waste management market. The large market share of this segment is mainly attributed to population growth, rural and urban development, lifestyle changes, and the consequent change in household consumption patterns.

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Based on geography, the waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the waste management market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's major market share is attributed to rapid technological advancements in waste management and government initiatives towards the zero waste plan in several Asia-Pacific countries. These initiatives are likely to boost awareness regarding waste management and have a positive impact on the market growth in the region.

Key Players:
The key players operating in the waste management market are Advanced Disposal Services, Inc. (U.S.), Biffa Group (U.K.), Clean Harbors, Inc. (U.S.), Covanta Holding Corporation (U.S.), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Suez Environment S.A (France), Veolia Environment S.A (France), Waste Management Inc. (U.S.), Republic Services, Inc. (U.S.), Waste Connections, Inc. (U.S.), GFL Environmental Inc. (U.S.), Stericycle, Inc. (U.S.), Casella Waste Systems, Inc. (U.S.), and Bingo Industries Limited (Australia).

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Key questions answered in the report-
Which are the high-growth market segments based on waste type, waste management method, source, and geography?
What was the historical market for the waste management market?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the waste management market?
Who are the major players, and what shares do they hold in the waste management market?
How is the competitive landscape in the waste management market?
What are the recent developments in the waste management market?
What strategies are adopted by the major players in the waste management market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global waste management market, and how do they compete with the other players?

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This release was published on openPR.