Waste Management Market Hits to Reach $2,483.0 Billion by 2030

PORTLAND, OR, UNITED STATES, September 14, 2023/EINPresswire.com/ — 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 provides an in-depth analysis of the global waste management market, focusing on various aspects such as types of waste, services offered, and regional trends.

Growth in urban population, increase in amount of waste generated, rise in environmental awareness, and government regulations toward illegal dumping drive the growth of the global waste management market. However, Lack of awareness in developing countries and labour intensive & high costs of transportation restrain the market to some extent. On the other hand, high growth potential in emerging economies presents new opportunities in the upcoming years.

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Types of Waste: The report categorizes waste into two main types:

Municipal Waste: This category includes waste generated by households, institutions, and small businesses within urban areas.
Industrial Waste: This category encompasses waste generated by industrial processes and manufacturing activities.

Services: The waste management services covered in the report are divided into two main segments:

Collection Services: This segment involves the gathering of waste materials. It is further subdivided into:

Collection & Transportation: The process of collecting waste from various sources and transporting it to disposal or treatment facilities.
Storage & Handling: The temporary storage and proper handling of waste materials to prevent environmental contamination.
Sorting: The separation of waste materials into different categories for recycling or proper disposal.

Disposable Services: This segment focuses on the final disposal or treatment of waste materials. It includes:

Landfills: The disposal of waste in designated landfill sites.
Recycling: The process of reusing and recycling waste materials to reduce environmental impact.
Composting & Anaerobic Digestion: The conversion of organic waste into compost or biogas through biological processes.
Revenue Sources: The report considers revenue generated from the treatment of nonhazardous solid waste produced by both residential and non-residential users. This indicates that it covers waste from households as well as commercial and industrial sources.

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Market Growth Factors:
Rise in Urban Population: The growth of urban areas is expected to lead to an increase in waste generation as more people reside in cities.
Industrial and Commercial Growth: The expansion of industries and the commercial sector contributes to a higher volume of waste production.
Environmental Concerns: Unplanned waste dumping has caused environmental issues such as soil, water, and air pollution. This has driven the demand for proper waste management practices.

Environmental Awareness: Developed countries and developing nations are increasingly recognizing the importance of sustainable waste management, leading to growing demand for waste management services.

Top Players:
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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In summary, the report highlights the significance of waste management in addressing environmental challenges caused by the rapid increase in waste generation due to urbanization and industrialization. It underscores the importance of adopting sustainable waste management practices to mitigate environmental pollution and meet the demands of an expanding global population

David Correa
Allied Analytics LLP
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