Solid Waste Management Market Size USD 1,193.88 Billion | Business Development research analysis by Emergen Research
The global Solid Waste Management Market will be worth USD 1,193.88 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the strict government regulations regarding solid waste disposal. The increasing population growth and the rising amount of waste generated every year are expected to drive the growth of solid waste management solutions. Favorable regulatory policies regarding the proper solid waste disposal, such as carbon tax or direct subsidies, or landfill taxes, is most likely to fuel the demand for solid waste management solutions. Rapid urbanization and industrialization in emerging economies are key factors contributing to the increasing adoption of solid waste management solutions.
The growing initiatives of the government to reduce the contamination of water bodies and carbon emissions are most likely to propel the growth of the market over the forecast period. Utilization of the municipal solid waste (MSW) as fuel to generate renewable energy sources through thermal and biological techniques is projected to drive growth opportunities for the future. The increasing preference of the developed countries towards Zero waste generation and waste recycling will surely boost the demand for solid waste management and recycling solutions.
Key Highlights From The Report
- Nestle and Veolia entered into a partnership regarding the development of a recycling program. The association is a part of a series of specific initiatives and steps introduced by Nestle to fight plastic pollution.
- The Industrial Solid Waste segment held the largest market share of 57.6% in 2019. Rapid industrialization in the emerging economies and rising adoption of renewable sources of energy among the industrial sectors are expected to drive the growth of solid waste management solutions among the industrial sectors.
- Processing is forecasted to grow with the fastest CAGR of 3.0% over the forecast period. The scarcity of landfill sites in the populated cities has resulted in the increasing need for solid waste recycling and boosted the segment’s growth.
- The Plastics segment held the largest market share of Solid Waste Management in 2019 due to the increasing amount of plastic waste generated every year from the packaging sector.
The report offers details about leading regions, applications, types, end users, market value and volume along with business verticals. The report is generated through extensive research and is further evaluated by experts in the industry and offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The key players in the market are adopting various strategies such as mergers and acquisitions, joint ventures, collaborations, partnerships, research and development investments and product launches to gain robust footing in the market and enhance their product base. Top companies operating in the global Solid Waste Management market include: Covanta Holding Corporation, Hitachi Zosen Corporation, Clean Harbors, Inc, Recology, Cleanaway, Wheelabrator Technologies, Waste Management, Inc., Veolia Environment SA (Veolia), SUEZ, and Advanced Disposal Services, among others.