Waste Management Market Striking Opportunities, And Forecasts To 2030

Waste Management Market Growth & Trends

The global waste management market size is expected to reach USD 1,685.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2022 to 2030. Proactive government measures to decrease illegal dumping and the rising adoption of waste-to-energy (WTE) incineration and recycling techniques are anticipated to boost the market growth.

Waste Management Market Segmentation

Grand View Research has segmented the global waste management market on the basis of based on service type, waste type, and region:

Based on the Service Type Insights, the market is segmented into Collection, Transportation, and Disposal.

• The collection segment led the market and accounted for over 60.0% share in 2021. The waste collection includes segregation of waste, loading and unloading of waste, selecting a suitable area, setting up that area for storage of waste at a minimum distance from where the waste is generated, and maintenance of the waste. The companies involved in the waste collection have to consider regular cleaning and maintenance of these storage areas.
• Proper measures are required to be taken while transporting the waste in order to avoid waste spilling and leaking. The liquid waste needs to be covered and must be leak-proof during transportation. Hazardous waste from commercial and industrial premises is required to be transported through proper transport vehicles with a certain level of protection, whereas non-hazardous waste can be transported directly to the recycling facility.
• The disposal segment is estimated to expand at the highest CAGR of 7.1% over the forecast period. There are various methods of disposal, namely recycling, incineration, composting, landfills, and oxpen dumping. The proper disposal of waste is required to avoid environmental deterioration and various infections such as HIV and hepatitis among the population caused due to improper waste disposal.
• Incineration plants generate energy from waste, which is useful for the generation of heat and electricity. The incineration disposal method reduces the volume of waste by 95%-96% depending upon the degree of recovery of waste material as metals from the ash for recycling. Incineration reduces the dependency on landfills.

Based on the Waste Type Insights, the market is segmented into Urban Waste, Industrial Waste, Biomedical Waste, E-waste.

• The industrial waste segment led the market and accounted for over 50.0% share in 2021. Rapid urbanization and industrialization are major factors behind increasing industrial waste generation. Industrial waste management is required as mismanagement of this waste can lead to the pollution of lakes and groundwater and damage to wildlife and vegetation.
• The e-waste segment is likely to expand at the fastest CAGR of 7.3% over the forecast period. Rapid technological advancements have resulted in the emergence of new electronic products and upgraded versions of the existing products, thereby reducing their shelf life and in turn, increasing the e-waste generation.
• Waste generated from hospitals, clinics, and diagnostic centers is required to be managed through proper waste management techniques to avoid the spread of infections and diseases such as pneumonia, tuberculosis, tetanus, whooping cough, and diarrhea. The biomedical waste generation increased between 2020 and 2021 owing to the growth in various diagnostic activities and treatment of COVID-19 patients.

Waste Management Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Market Share Insights

• February 2020: Valicor acquired Affiliated Wastewater Environmental Services to expand its network in the U.S. and strengthen its position as one of the major providers of wastewater treatment services in the country.

Key Companies Profile & Market Share Insights

Major players in the market are vertically integrated across the supply chain, wherein they provide waste collection, transportation, and disposal services. This results in optimizing the operational cost and increasing profit margins, thereby enabling the companies to obtain a significant share in the industry.

Some of the prominent players operating in the global waste management market include,

• Waste Management
• Suez
• Veolia
• Valicor
• Waste Connections
• Republic Services
• Biffa
• Clean Harbors
• Covanta Holding
• Daiseki
• Hitachi Zosen
• Remondis Se & Co. Kg
• Urbaser
• Fcc Environment
• Biomedical Waste Solutions
• Stericycle

Order a free sample PDF of the Waste Management Market Intelligence Study, published by Grand View Research.