Waste Management Market to Boost Growth Scope, Demand and Global Outlook 2023 to 2030.

Waste Management Industry Overview

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.

Rising awareness regarding proper waste disposal globally for maintaining animal and human health has resulted in the emergence of various disposal methods and techniques. The occurrence of large quantities of dangerous compounds, such as metals and salts, in the waste, has made it necessary for waste management companies to dispose of or recycle the waste on time.

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

Detailed Segmentation:

Service Type Insights

The collection segment led the market and accounted for over 62.0% share in 2022. The waste collection includes segregation of waste, loading and unloading of waste, selecting a suitable area, setting up that area for storage of waste at a minimum distance from where the waste is generated, and maintenance of the waste. The companies involved in the waste collection have to consider regular cleaning and maintenance of these storage areas.

Proper measures are required to be taken while transporting the waste in order to avoid waste spilling and leaking. The liquid waste needs to be covered and must be leak-proof during transportation. Hazardous waste from commercial and industrial premises is required to be transported through proper transport vehicles with a certain level of protection, whereas non-hazardous waste can be transported directly to the recycling facility.

Waste Type Insights

The industrial waste segment led the market and accounted for over 85.9% share in 2022. Rapid urbanization and industrialization are major factors behind increasing industrial waste generation. Industrial waste management is required as mismanagement of this waste can lead to the pollution of lakes and groundwater and damage to wildlife and vegetation.

According to our world data, by 2050, around 7 billion people will live in urban areas, which is expected to increase urban waste generation in the near future. During the COVID-19 pandemic, in 2020, the government of various countries such as the U.S., India, and China imposed a lockdown to control the spread of the virus, resulting in people working from home due to which the urban waste increased in 2020.

Regional Insights

Asia Pacific led the industry and accounted for over 24.5% share in 2022. Government initiatives such as Swacch Bharat Abhiyan and the zero waste plan by several Asia Pacific countries are likely to boost awareness regarding waste management. This, in turn, is anticipated to have a positive impact on the market growth in Asia Pacific.

Factors such as increasing waste generation, strict government regulations for waste management, and illegal dumping are anticipated to drive the demand for waste management in North America. Furthermore, rapid technological advancements such as PET bottle recycling technology in waste management practices are expected to have a positive impact on the demand in North America.

Browse through Grand View Research's Water Sludge Treatment Industry Research Reports.

The global membrane separation market size was valued at USD 27.6 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2030.
The global water desalination plant equipment market size was estimated at USD 37,968.2 million in 2023 and is anticipated to grow at a CAGR of 10.0% from 2024 to 2030.

Key Waste Management Companies:

Some prominent players in the global waste management market include: