Waste Management Market Size To Worth USD 2494.59 Billion By 2033

Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1419.52 billion in 2023 global waste management market will reach USD 2494.59 billion in 2033. Waste management encompasses the collection, transportation, and disposal of various types of waste, including solid, liquid, and gaseous waste. It involves managing municipal, industrial, and hazardous waste-each with distinct characteristics and handling requirements. Municipal waste refers to non-hazardous waste generated by households and cities. Industrial waste originates from manufacturing and production activities, while hazardous waste includes substances from sectors like pharmaceuticals, medical, chemical, and paint industries. Key activities in waste management include garbage collection, sorting, composting, recycling, and disposal methods such as landfilling and anaerobic digestion. Effective waste management helps protect public health by preventing disease spread and major epidemics.

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Key Insight of the Global Waste management Market

Asia Pacific will dominate the market during the forecast period.

Asia Pacific dominated the global waste management market with a 26.75% revenue share in 2023. Government initiatives like Swacch Bharat Abhiyan and zero waste plans are expected to boost awareness and expand the market in the region. This increased focus on waste management will likely drive growth in Asia Pacific.

In 2023, the collection segment dominated the market with the largest market share of 37.41% and revenue of 531.04 billion.

The service type segment is divided into transportation, collection, and disposal. In 2023, the collection segment dominated the market with the largest market share of 37.41% and revenue of 531.04 billion.

In 2023, the industrial waste segment dominated the market with the largest market share of 28.55% and revenue of 405.27 billion.

The waste segment is divided into medical waste, e-waste, municipal waste, and industrial waste. In 2023, the industrial waste segment dominated the market with the largest market share of 28.55% and revenue of 405.27 billion.

Advancement in market

To enhance plastic waste management in Mormugao, Bisleri International Pvt. Ltd. partnered with the Goa State Pollution Control Board (GSPCB). Several parties are involved in the collaboration, which was formalised by the exchange of a letter of intent during the Green Goa Summit in 2024.

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Market Dynamics

Driver: Increase in E-Waste.

Technological advancements and shorter product lifecycles contribute to a rise in electronic waste. As newer models of devices like smartphones and laptops replace older ones, e-waste accumulates. The lifespan of electronics has decreased significantly, from over 40 years in early computing to an average of 4-5 years today. This growing e-waste stream necessitates effective recycling and management.

Restraints: Lack of Infrastructure.

Inadequate infrastructure for waste collection and separation hinders effective waste management, particularly in developing countries. Poor waste handling can lead to severe health issues, including respiratory problems and environmental degradation. Developed nations have established robust waste management systems, while many countries still struggle with unregulated waste practices, leading to environmental and health risks.

Opportunities: Growth in Construction and Demolition.

Increased construction projects contribute to a rise in construction and demolition waste. The development of smart cities and sustainable urban growth creates opportunities for waste management companies to handle and recycle construction materials. Effective diversion strategies are being implemented to separate and recycle building materials, reducing landfill waste and promoting sustainability.

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Some of the major players operating in the global waste management market are:

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

Key Segments covered in the market:

By Service Type

. Transportation
. Collection
. Disposal

By Waste Type

. Medical Waste
. E-waste
. Municipal Waste
. Industrial Waste

By Region

. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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