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Emerging Trends to Drive Waste Management And Recovery Services Market Growth at 5.7% CAGR Through 2029
Waste Management And Recovery Services Market Size
Waste Management And Recovery Services Market Size Growth Forecast: What to Expect by 2025?
The waste management and recovery services market size has grown strongly in recent years. It will grow from $185.31 billion in 2024 to $194.81 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to regulatory frameworks, environmental awareness, shift towards circular economy, resource scarcity concerns.
How Will the Waste Management And Recovery Services Market Size Evolve and Grow by 2029?
The waste management and recovery services market size is expected to see strong growth in the next few years. It will grow to $243.48 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. 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.
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What Drivers Are Propelling the Growth of Waste Management And Recovery Services Market Forward?
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.
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Which Emerging Trends Are Transforming the Waste Management And Recovery Services Market in 2025?
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.
What Are the Key Segments in the Waste Management And Recovery Services Market?
The waste management and recovery services market covered in this report is segmented -
1) By Service Type: Collection, Open Dumping, Incineration Or 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
Subsegments:
1) By Collection: Residential Collection, Commercial Collection, Industrial Collection, Hazardous Waste Collection
2) By Open Dumping: Unregulated Dump Sites, Regulated Dump Sites
3) By Incineration Or Combustion: Waste-To-Energy Incineration, Hazardous Waste Incineration
4) By Landfill: Municipal Solid Waste Landfill, Hazardous Waste Landfill, Sanitary Landfill
5) By Recycling: Curbside Recycling, Drop-Off Recycling, Industrial Recycling, E-Waste Recycling
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Who Are the Key Players Shaping the Waste Management And Recovery Services Market's Competitive Landscape?
Major companies operating in the waste management and recovery services market include Suez Environment SA, Veolia Environment SA, Republic Services Inc., Biffa plc, Clean Harbors Inc., Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis Se & Co. KG, Waste Management Inc., Casella Waste Systems Inc., Cleanaway Waste Management Limited, FCC Environment Ltd., GFL Environmental Inc., GreenWaste Recovery Inc., IQR Solutions AB, Meridian Waste Solutions Inc., Recology Inc., Rumpke Consolidated Companies Inc., Stericycle Inc., Waste Connections Inc., Waste Pro USA Inc.
What Geographic Markets Are Powering Growth in the Waste Management And Recovery Services Market?
North America was the largest region in the waste management and recovery services market in 2024. The regions covered in the waste management and recovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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