Waste Management Industry Overview

The global Waste Management Market, with a valuation of USD 1,293.70 billion in 2022, is expected to expand at a CAGR of 5.4% from 2023 to 2030. This growth is projected to be significantly supported by stringent government regulations like the Resource Conservation and Recovery Act and the Waste Shipment Regulation, aimed at enhancing service quality. The COVID-19 pandemic presented a dual impact: a decrease in waste from commercial and industrial sources due to lockdowns, contrasted by a rise in urban waste from residential areas. The recovery of the waste recycling industry and the return of companies to full capacity were facilitated by the reopening of production facilities in early 2021 and increasing vaccination rates.

In the U.S., a country severely affected by COVID-19, the 2020 lockdown led to a notable decrease in waste generation from the industrial sector. However, the resumption of production in 2021 triggered an increase in waste generation, positively influencing the overall market growth.

Detailed Segmentation:

• Service Type Insights

The disposal segment is estimated to expand at the highest CAGR of 5.9% over the forecast period. There are various methods of disposal, namely recycling, incineration, composting, landfills, and open 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.

• Waste Type Insights

The e-waste segment is likely to expand at the fastest CAGR of 7.4% 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.

• Regional Insights

The Middle East and Africa is estimated to expand at a CAGR of 5.6% over the forecast period. The growth is attributed to the increasing awareness regarding sustainable advantages and benefits of reusing and recycling waste materials. However, the lack of money, inadequate infrastructure to introduce effective collection, and recycling in the majority of countries in the African region have resulted in illegal landfill sites, thereby hampering the market growth.

Gather more insights about the market drivers, restraints, and growth of the Waste Management Market

Key Companies & Market Share Insights

Generic strategies adopted by the companies usually include mergers & acquisitions, distribution network expansion, and product portfolio expansion. For instance, in 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.

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 prominent players in the global waste management market include:

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

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