Waste Management and Recovery Services Market Forecast and SWOT Analysis

The waste management and recovery services market size has grown strongly in recent years. It will grow from $177.33 billion in 2023 to $187.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to regulatory frameworks, environmental awareness, shift towards circular economy, resource scarcity concerns..

The waste management and recovery services market size is expected to see strong growth in the next few years. It will grow to $230.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to emergence of innovative business models, shift towards sustainable practices, investment in infrastructure, urbanization and population growth, rise in environmental awareness.. Major trends in the forecast period include waste-to-energy solutions, focus on recycling technologies, expansion of circular economy models, smart waste management solutions, bio-based and biodegradable materials..

Market Overview -
Waste management and recovery services refer to waste management, from collection to recycling and monitoring. Recovery services are those services involved in the use of waste as an input material to create valuable products as new outputs.

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Rising Urbanization Drives The Waste Management And Recovery Services Market
Rising urbanization is expected to propel the growth of the waste management and recovery services market going forward. Urbanization refers to the large-scale population shift from rural to urban areas and ensuing physical changes to urban areas, this results in waste generation which causes health threats and urban environment deprivation. Waste management helps to reduce and eradicate waste generated through urbanization and strives for a better and clean environment. For instance, in October 2022, according to The World Bank, a US-based international financial institution, globally, the urban population would increase from 4.4 billion in 2022 to 6 billion by 2045 with an increase of approximately 1.6 times from the present urban population. Therefore, rising urbanization drives the waste management and recovery services market.

Competitive Landscape -
Major companies operating in the waste management and recovery services market report are Suez Environment SA, Advanced Disposal Services Inc., Veolia Environment SA, Republic Services Inc., Covanta Holding Corporation, Biffa plc, Clean Harbors Inc., Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis Se & Co. KG, Waste Management Inc., Allied Waste Industries Inc., BFI Canada Inc., Casella Waste Systems Inc., Cleanaway Waste Management Limited, Eco Waste Solutions Ltd., FCC Environment Ltd., GFL Environmental Inc., Green Conversion Systems Inc., GreenWaste Recovery Inc., IQR Solutions AB, Meridian Waste Solutions Inc., Newalta Corporation, Progressive Waste Solutions Ltd., Recology Inc., Rumpke Consolidated Companies Inc., Stericycle Inc., Waste Connections Inc., Waste Pro USA Inc., Covia Holdings Corporation .

Product Innovation Transforms The Market
Innovations in waste management are a key trend gaining popularity in the waste management and recovery services market. Major companies operating in the waste management and recovery services market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2022, Casella Waste Systems, Inc., a US-based waste management company in partnership with TerraCycle, a US-based waste management company launched an innovative home recycling pilot, TerraCycle Pouch for hard-to-recycle items. This enables consumers to divert waste from the landfill, engage their communities, and be rewarded for their effort the main aim is to recycle more than 20 hard-to-recycle materials, and also offer additional services.

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Key Segments -

The waste management and recovery services market covered in this report is segmented -

1) By Service Type: Collection, Open Dumping, Incineration/Combustion, Landfill, Recycling
2) By Waste Type: Hazardous Waste, E-waste, Municipal Waste, Plastic Waste, Industrial Waste, Other Waste
3) By End User: Residential, Commercial, Industrial

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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