The global waste management market size was valued at $1,612.0 billion in 2020, and is expected to reach $2,483.0 billion by 2030, registering a CAGR of 3.4% from 2021 to 2030. The report includes revenue generated from treatment of nonhazardous solid waste of residential and non-residential users. Further, rise in urban population is expected to result in growth in waste generation. In addition, rise in industries and commercial sector has also led to rise in amount of waste.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to the global lockdown and temporary closure of almost all offices and industries, thereby drastically affecting the waste production.
- However, the municipal waste from residential areas were increased to some extent.
- Also, due to decline in operational activities, demand for recyclable materials such as rubber and plastic were decreased.
- However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-initiation of waste management companies and waste recycle industry at their full-scale capacities.
The report offers detailed segmentation of the global waste management market based on type, service, and region.
Based on type, the industrial waste segment held the highest market share in 2020, holding 93.8% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the hazardous waste segment is estimated to register the highest CAGR of 6.4% from 2021 to 2030.
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Based on service, the disposing segment held the largest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 3.6% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than half of the global waste management market, and is estimated to continue its dominant share by 2030. However, LAMEA region is projected to manifest the fastest CAGR of 3.9% during the forecast period.
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Leading players of the global waste management market analyzed in the research include Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environnment, and Waste Management Inc.
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