Waste Management Market estimated to expand at the highest CAGR of 5.4% over the forecast period

The global waste management market size was valued at USD 1,293.70 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The market is expected to be driven by stringent government regulations such as the Resource Conservation and Recovery Act and Waste Shipment Regulation for improving this service. During the COVID-19 pandemic, due to the lockdown, waste production decreased from the commercial and industrial sectors as factories and offices were completely or partially shut down. However, the urban waste increased from residential areas. The reopening of production facilities at the beginning of 2021 and rising vaccination rates lead to the re-initiation of the waste recycling industry and companies at their full-scale capacities.

The U.S. was one of the majorly COVID-19 affected countries, wherein the government had imposed a lockdown in 2020 to control the spread of the virus, resulting in the reduction of waste generation from the industrial sector. By 2021, the production facilities have started their operation, resulting in increased waste generation, thereby impacting the market growth positively.

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

Waste Management Market Report Highlights

The disposal segment is estimated to expand at the highest CAGR of 5.9% over the forecast period as the sustainable methods of disposal reduce pollution and recycled materials can also be used in various end-use industries
The industrial waste type segment accounted for the largest revenue share of over 85.9% in 2022 owing to the increasing generation of waste from several end-use industries such as oil gas, chemical, construction, and electronics
Asia Pacific led the industry and accounted for over 24.5% share in 2022 on account of the rising adoption of various waste management techniques for limiting the environmental degradation in the region
India is estimated to expand at a lucrative CAGR of 7.2% from 2022 to 2030, in terms of revenue, on account of the rising awareness regarding health hazards and diseases caused by improper waste disposal in the country
In May 2021, SUEZ entered into a partnership with Eramet, a key manufacturer in the extraction and valorization of metals, to offer a sustainable and high-performance battery recycling solution for the European market

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Segments Covered in the Report

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

Service type Outlook (Revenue, USD Billion; 2018 - 2030)