Solid Waste Management Market

REPORT SCOPE & OVERVIEW

The Solid Waste Management Market size was USD 315.33 billion in 2022 and is expected to Reach USD 412.03 billion by 2030 and grow at a CAGR of 3.4% over the forecast period of 2023-2030. 

The word "solid waste management" primarily describes the entire procedure of gathering, handling, and getting rid of solid waste. The waste management procedure involves collecting trash from various sources and disposing of it. Garbage must be gathered, moved, handled, examined, and disposed of during this process. To make sure that strict laws and norms are followed, it must be closely monitored. solid waste may include household trash, solid industrial waste, construction trash, sewage sludge, glass, Plastics, metals, and other solid waste from agriculture, as well as medical waste.

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Different solid waste management techniques are used in rural and urban areas, in developed and undeveloped nations, industrial and municipal areas. Since the primary objective of solid waste treatment is to maintain human and environmental health, it is more significant for promoting a higher standard of living and overall economic growth.

Rapid technological changing trend has brought new methods of waste collection, separation, and safe dumping processes. The latest Internet of Things (IoT)-based technologies make it feasible to improve garbage collection procedures, identify waste-filling trends, optimize driver schedules, and save operational costs. Due to the falling cost of sensors, IoT-based waste collection containers are also projected to be working with smart solutions for waste management in the near future.

MARKET DYNAMICS

KEY DRIVERS

• Technological advances for proper waste collection methods

• Increasing awareness of waste management benefits

Organise educational initiatives aimed at diverse target groups, such as online platforms, communities, corporations, and schools. Information about the value of waste minimization, recycling, composting, and proper disposal can be seen in these programs. Responsible waste management promotes the long-term well-being of present and future generations by protecting natural resources, lowering pollution, and supporting sustainable practices. Responsible waste management helps to minimize climate change by reducing methane emissions from landfills and energy usage. People should Properly dispose of medicinal waste in order to prevent disease spread through medicinal waste.

RESTRAIN

• Less investment in garbage separation infrastructure

• Inadequate waste collection and separation infrastructure

Governments and municipalities should prioritize the development of waste collection and separation infrastructure, including garbage bins, Dump Trucks, transfer stations, and recycling centers. Garbage collection and segregation must be done correctly in order to recycle garbage, plastics, and other materials including paper, metals, and wood. The inappropriate disposal of waste presents a severe hazard to municipalities and other waste management entities. Medicinal waste should be handled with care as exposure to poorly disposed trash can cause respiratory problems, blood infections, developmental disorders, and even reproductive issues.

OPPORTUNITY

• Government regulations and policies push for better waste management practices

• Growing awareness of environmental issues boosts market growth.

• Rapid Urbanization and expanding populations

Rising urban areas and construction activities the volume of waste generated also increases. This drives the need for efficient waste management systems to prevent environmental pollution and health hazards. The generation of household solid trash has also significantly increased as a result of shifting populations from rural to urban cities. A considerable amount of construction waste gets diverted from the garbage stream when construction activity increases.

CHALLENGES

• Disposal of hazardous waste requires specialized knowledge and facilities

• High cost of activities involved in solid waste management

Due to space constraints and transportation issues, managing garbage in densely populated urban areas can be challenging. Solid waste management is a labor-intensive process. Solid waste management infrastructure, and dumping areas, also need little maintenance despite being expensive. A solid waste management driveway built properly can be stable and useful for up to 100 years, but once it cracks or is broken, repairs can be pricey. Regular examination and re-grouting can be used to maintain the surface. Over the projected period, this is anticipated to pose a hurdle to the market's expansion.

IMPACT OF RUSSIAN UKRAINE WAR

Russia generates 55-60 million tonnes of municipal solid waste (MSW) yearly, with an average of 400kg of waste produced per person per year. Russia Ukraine war has resulted in widespread destruction of infrastructure including residential and commercial streets, as well as educational systems. Ukraine will also require programs to clean up the environment and restore fundamental urban amenities such as safe drinking water, functional sanitation systems, and the ability to manage solid waste effectively. The Ukrainian Parliament drafted a new Waste Management Law (the "Waste Management Law"). The new waste management system, which tightens licensing criteria for hazardous waste collection and processing, is intended to significantly improve the state of ecology in Ukraine and help accomplish sustainable development goals.

IMPACT OF ONGOING RECESSION

The solid waste and recycling management business, like others, has faced labor shortages, increased fuel costs, and major equipment delays. Faced with these economic difficulties, big corporations in certain other industries have reduced their earnings guidance for the second quarter. Industries with oligopolistic competition tend to be recession-resistant because the lessened rivalry allows them more latitude to raise prices without losing market share. waste management is the largest and most strategically positioned waste-gathering company, and it is a very recession-resistant industry.

MARKET SEGMENTATION

By Waste Type

• Industrial Waste

• Municipal Waste

  • Organic Matters

  • Plastic

  • Paper

  • Glass & Metal

  • Others

By Treatment Method

• Collection

• Processing

  • Recycling

  • Compositing

• Disposal

  • Open Dump & Landfilling

  • Incineration

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REGIONAL ANALYSIS

Asia Pacific region dominates the solid waste management industry. The output of solid garbage is expected to expand rapidly as the population of the Asia Pacific region grows. The increased awareness of the environmental implications of non-eco-friendly packaging, such as plastic packaging and other plastic product components, has had a substantial impact on this region's solid waste management market. Rapid industrialization and population expansion in nations such as India and China are driving the need to have proper waste management system to preserve the environment these factor drives the market growth.

North America is the second-largest global market. solid waste management system is a significant and complex industry. The U.S. held the largest share and is one of the largest producers of waste in the world. Companies such as Clean Harbors, and Covanta Holding have well-established collection, processing, and disposal methods.

Europe's average rate accumulation of this region is high. Furthermore, the high concentration of waste-to-energy facilities in this region is propelling market expansion. More than 500 plants are operating in Europe. Also, over the year Europe has developed comprehensive legislative regulations to improve waste management. this boosts the demand for Europe to have stringent waste management regulations and targets to promote sustainable waste management practices.

REGIONAL COVERAGE

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS

Waste Management Inc, Republic Services, SUEZ, Veolia, Biffa PLC, Clean Harbors, Covanta Holding, Daiseki, Hitachi Zosen, and other key players are mentioned in the final report.

Waste Management Inc-Company Financial Analysis

RECENT DEVELOPMENTS

Republic Services- In 2023 Republic Services Collaborate with Ravago to Increase Recycling Capacity. The new facilities will produce recycled resin for consumer packaging and other uses using recycled polypropylene as well as polyethylene from Republic Services' Polymer Centres.

SUEZ- In 2022 SUEZ completed the acquisition of EnviroServ company, in conjunction with Royal Bafokeng Holdings and African Infrastructure Investment Managers. SUEZ will enable to strengthen both its footprint in Africa and its status as a global leader in the disposal of waste from municipalities and factories as a result of this acquisition.

SUEZ- In 2022 For the fourth time, SUEZ successfully deals a contract extension with Renault Group Maroc. As a result, SUEZ has strengthened its position as the automaker's go-to partner and as the best at managing industrial waste in Morocco.