ID: MRFR/CO/6990-HCR | 107 Pages | Author: Varsha More | May 2023
Construction Waste Management Market is projected to be worth USD 542.7 Billion by 2028, registering a CAGR of 5.1% during the forecast period (2021 - 2028).
The construction waste management market is estimated to witness an 8% CAGR during the historic forecast period that ended in 2019 and is valued at USD 32.0 billion by the end of the historic forecast period. The global construction waste management market size is expected to be valued at USD 542.7 billion by 2028 at a CAGR of 5.1%, from an estimated USD 423.4 billion in 2021. The Global Market for Construction Waste Management has been emerging due to a substantial degree of growth in the past couple of years, especially during the historic forecast period that had ended in 2019. The demand for construction waste management is rising with an upscale in the market trends and activities that are a result of the rise in growth opportunities for the market during the ongoing period that ends in 2028.
COVID 19 Analysis
The global construction waste management market has been affected by the pandemic a lot. As a result of the COVID-19 epidemic, the waste management industry is predicted to contract in 2020. The COVID-19 pandemic has already wreaked havoc on the garbage industry. While the pandemic was spreading and several nations were implementing lockdowns, public authorities and municipal garbage operators had to quickly adjust their waste management systems and procedures to the circumstances. Inadequate waste management raises the danger of disease transmission, either directly from uncollected or discarded trash or indirectly through water and crop pollution.
The recycling of plastic and other items has slowed significantly. While the anticipated risk of COVID-19 transmission is the immediate cause of the slowdown, other important variables include supply chain disruptions and a drop in production and commercial operations. The worldwide waste management sector could be adversely impacted if the economic downturn, combined with low commodity prices, leads to a greater dependence on cheaper virgin raw materials rather than the recycled feedstock.
Global Construction waste management is estimated to grow at an 8% CAGR by the end of the global forecast period in 2028. The emergence of the key market players is important to help the market is rising rapidly, witness substantial growth, and reach the predicted figures by the end of the forecast period in 2028. The key market players have been recognized under the head of the global market competition owing to recent developments that have been taken by them and are as follows:
WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation are the major participants in the worldwide construction waste management industry. With a considerable number of participants around the world, the global construction waste management market is competitive. To grow their worldwide presence and boost their market shares, the firms are expected to employ a variety of techniques. Focus on high-quality products, cost-effectiveness, expansions, strategic partnerships, and cooperation with manufacturing businesses are some of the primary strategies used by the players. Globally, the increase in investment in real estate has led to the growth of the construction industry.
Factors such as the increase in construction of commercial buildings, such as shopping complexes, educational facilities, and offices, are increasing the demand for construction waste management in the global market. The growth in the number of housing projects around the world is expected to increase the demand for construction waste management globally. Factors such as increased spending on renovation and demolition are expected to drive market growth. In addition, reforms and regulations introduced by the governments of several countries to enhance the development of the construction and real estate sectors are increasing the demand for construction waste management.
There is an absence of a necessary framework for the collection and segregation of waste. The intention is to lessen waste from landfills and, eventually, save you land, water, and air pollution. Proper waste series and segregation are important for recycling waste and plastic merchandise or some other objects which include paper, metals, and wooden merchandise. Inappropriate disposal of waste poses a huge hazard to municipalities and different involved bodies concerned with waste management. Improper disposal of waste can substantially affect the fitness of the populace residing close by the polluted place or landfills. Exposure to improperly treated wastes can purpose pores and skin irritations, blood infections, respiration problems, boom problems, or even reproductive issues.
Due to the rising economy and rapid growth in industrialization, the global construction waste management market is witnessing significant growth. The key market players of major locations like WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation during the forecast period ending in 2028. The key strategies adopted by the players include a focus on high-quality products, cost-effectiveness, expansions, strategic partnerships, and collaborations with manufacturing companies.
The Global Construction Waste Management Market has been bifurcated into various segments that will help the market to witness the highest CAGR during the forecast period. The market has been segmented based on the following:
Based on waste type, the market has been segmented as follows:
Based on the application, the market has been segmented as follows:
Based on the waste management process, the market has been segmented as follows:
The Global Construction Waste Management Market has witnessed significant growth in the construction waste management market, due to the rising economy and rapid growth in industrialization mainly in the regions of China, India, and other emerging countries. However, if domination is concerned, the regions of Asia-Pacific gold the construction waste management market which is followed by North America.
|Market Size||2028: USD 542.7 Billion|
|CAGR||5.1% CAGR (2022-2028)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Waste Type, Application, Waste Management Process,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation.|
|Key Market Opportunities||Increasing demolition and renovation activities leave construction waste Increase in real estate investments Increased expenditure on the remodeling and demolition Increasing investment for the adoption of high-tech machines|
|Key Market Drivers||Growth in the number of housing projects across the globe Growth of their construction and real-estate industries Rising economy and rapid growth in industrialization|
The market is expected to grow at a CAGR of 5.1% by the end of the forecast period in 2028
The key players of the global construction waste management market are WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation.
The key strategies adopted by the players include a focus on high-quality products, cost-effectiveness, expansions, strategic partnerships, and collaborations with manufacturing companies.
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