Allied Market Research published a research report on the North America waste management market. The findings of the report states that the market for North America waste management system generated $208 billion in 2019, and is expected to hit $229.3 billion by 2027, witnessing a CAGR of 5.3% from 2020 to 2027. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.
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“North America waste management market has witnessed significant growth over the past decade, owing to huge amount of waste generated from municipal and industrial areas. In addition, Strict government regulations and government regulations towards illegal dumping and open burning, is anticipated to drives the growth of the market. However, labor intensive and high costs of garbage transportation, and inadequate waste disposal, is anticipated to hamper the growth of the market. Conversely, implementation of advance waste disposal and waste collection systems, is anticipated to provide lucrative opportunities for growth market.” Said Priyanka Khandelwal, thelead analyst, of Construction and Manufacturingat Allied Market Research.
The report provides detailed information based on the key determinants of the market to help market players in devising growth strategies and capitalizing on opportunities. The rise in amount of waste and stringent government regulations for waste management and illegal dumping boost the growth of the North America waste management market. Whereas, labor intensive and high costs of transportation hamper the market growth. Moreover, implementation of advanced waste management practices is expected to pave the way for countless opportunities in the near future.
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The report provides a detailed scenario of impact of the Covid-19 pandemic on the North America waste management system market. It helps the market players, new entrants, and investors to determine strategies according to the current scenario and improvise the business structure for the approaching time. As a result of the lockdown, the waste production witnessed a decline from several industries and the commercial sector. This, in turn, has affected the North America waste management market growth.At the same time, the growth in hygiene concerns due to the rapidspread of coronavirus has augmented the demand for waste management.
The report offers detailed segmentation of the North America waste management system market based onservice, type, and country. These insights are useful for the new entrants and existing market players to capitalize on the segments with highest revenue and fastest growth rate to accomplish growth in the approaching time.
Based on type,the market is classified on the basis of industrial waste, hazardous waste, and municipal waste. The industrial waste segment held the highest market share in 2019, holding for more than four-fifths of the total market share, and is projected to maintain its leadership status during the forecast period. On the other hand, the hazardous waste segment is expected to exhibit the largest CAGR of 7.2% from 2020 to 2027.
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Based on services, the disposable services segment dominated the market with highest market share in 2019, with more than half of the North America waste management market, and will maintain its lead in terms of revenue during the forecast period. The same segment, furthermore, is anticipated to showcase the highest CAGR of 5.5% from 2020 to 2027. Moreover, the report also studies collection services segment.
Based on country, the market is studied across the U.S, Canada, and Mexico. The U.S held the lion’s share in 2019, accounting for 92% of the total market share, and will maintain its dominance by 2027. On the other hand, Mexico is projected to uphold the highest CAGR of 7.4% during the forecast period.
Leading market players of the North America waste management system market analyzed in the report includeHitachi Zosen Corporation, Republic Services, Inc., Biffa Plc, Covanta Holding Corporation, Bigbelly Inc., Remondis Se & Co. Kg, Veolia Environment, Clean Harbors, Inc., Suez, and Waste Management Inc.
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