Solid Waste Management Market Size was valued at USD 288.5 Billion in 2022. The Solid Waste Management market industry is projected to grow from USD 298.5 Billion in 2023 to USD 393.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2024 - 2032). Increasing waste generation, growing environmental concerns, stringent waste management regulations, increasing focus on recycling and resource recovery, technological advancements, economic incentives, public awareness and participation, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for solid waste management is significantly influenced by escalating environmental concerns. There is an increasing sense of urgency to address this problem and embrace sustainable waste management practices as the negative impacts of inappropriate trash disposal on the ecosystem become more widely recognized.
Pollution is one of the main environmental issues connected to inappropriate garbage disposal. When solid waste is not adequately managed, it can contaminate the air, water, and soil. Poorly constructed or maintained landfills have the potential to release harmful compounds into the soil and groundwater, causing long-term environmental harm. The discharge of hazardous gases like methane and carbon dioxide as a result of poor waste management procedures can also worsen air pollution and climate change. Governments, communities, and environmental organizations have become concerned about these environmental effects, which has prompted them to look for efficient waste management solutions. Resource recovery and recycling have received more attention as a result of the urgent fear that the earth's natural resources are running out. Many types of solid waste have valuable components that can be salvaged and utilized again, lessening the demand for mining new resources from the ground. Recycling saves energy, lowers greenhouse gas emissions from resource extraction and manufacturing processes, and protects natural resources. As a result, developing recycling infrastructure and putting in place efficient waste separation and recycling systems are becoming increasingly important.
The business is also being driven by concerns about the effects of garbage on marine ecosystems. Marine debris has accumulated in seas and rivers as a result of improper trash disposal, particularly with regard to plastic garbage. Marine life is seriously endangered by this marine trash because it can entangle or absorb plastic garbage, which can cause harm, asphyxia, and even death to creatures. Due to the negative effects on marine ecosystems, there is now a greater need for waste management strategies that reduce marine pollution and support ocean preservation.
In addition, the idea of a circular economy has become more popular recently in response to environmental worries. A circular economy encourages the reuse, repair, and recycling of goods in order to reduce waste production. It promotes a change from the conventional linear "take-make-dispose" model to a more resource-wise and sustainable strategy. Effective waste management systems that enable material recovery and reintroduction into the production cycle, reducing the need for virgin resources, and minimizing waste formation are necessary for the implementation of circular economy principles.
Stricter norms and regulations for waste management have been adopted by governments and regulatory authorities. These laws levy fines for non-compliance and seek to encourage proper garbage disposal, recycling, and resource recovery. Companies in the solid waste management industry are given chances as a result of the implementation of such legislation since they can offer the knowledge and services required to guarantee compliance and uphold environmental standards. Thus, driving the Solid Waste Management market revenue.
The Solid Waste Management Market segmentation, based on waste type, includes industrial waste & municipal waste. The industrial waste segment dominated the market in 2022. Massive amounts of industrial waste have been produced as a result of rapid industrialization and the relocation of industrial production from developed to developing geographic areas. Massive industrialization and urbanization initiatives are fueling the rise of the management market in emerging economies like China, India, and other African nations.
Figure 1: Solid Waste Management Market, by Waste Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Solid Waste Management Market segmentation, based on treatment method, includes collection, processing & disposal. The disposal category generated the most income in 2022. The process of managing debris includes disposal service, in which recyclable garbage is separated from solid waste and handled separately. There are numerous ways to get rid of waste, including composting, incineration, recovery & recycling, landfills, and plasma gasification.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Solid Waste Management Market dominated this market in 2022 (45.80%). Regulations for waste management in North America are well-established and strict, particularly in the United States and Canada. These rules emphasize effective trash management, recycling, and resource recovery in addition to lowering landfill waste. The rigorous regulatory environment fosters the development of the waste management market. Further, the U.S. Solid Waste Management market held the largest market share, and the Canada Solid Waste Management market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SOLID WASTE MANAGEMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Solid Waste Management market accounts for the second-largest market share. Europe is leading the charge in advancing a circular economy strategy. By encouraging reuse, repair, and recycling, the circular economy idea seeks to increase the value and longevity of goods, materials, and resources. Demand for waste management technologies that allow for the recovery and reinclusion of materials in the manufacturing cycle is driven by the circular economy agenda. The circular economy promise made by Europe encourages the expansion of the solid waste management industry. Further, the German Solid Waste Management market held the largest market share, and the UK Solid Waste Management market was the fastest growing market in the European region
The Asia-Pacific Solid Waste Management Market is expected to grow at the fastest CAGR from 2023 to 2032. Rapid urbanization and population growth in the Asia-Pacific area are contributing to an increase in trash production. Increased consumption patterns brought on by growing middle class populations and expanding metropolitan regions lead to significant trash production. Market expansion is driven by the demand for efficient waste management solutions to handle this growing waste stream. Moreover, China’s Solid Waste Management market held the largest market share, and the Indian Solid Waste Management market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Solid Waste Management market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Solid Waste Management industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Solid Waste Management industry to benefit clients and increase the market sector. In recent years, the Solid Waste Management industry has offered some of the most significant advantages to medicine. Major players in the Solid Waste Management market, including Waste Management Inc. (USA), SUEZ Group (France), Veolia Environment S.A. (France), Biffa PLC (U.K.), Clean Harbors Inc. (USA), Covanta Holdings Corporation (USA), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Republic Services Inc. (USA), Stericycle Inc. (USA), Advanced Disposal Services Inc. (USA), ALBA Group (Germany), Recology (USA), TANA Oy (Finland), Envac Group (Sweden) and others, are attempting to increase market demand by investing in research and development operations.
Environmental and trash management services are offered by trash Management Inc (WM). It is present throughout the whole waste management vertical, from collection through disposal, including the management of solid and hazardous waste landfills. The business supports customers in reaching their green objectives, such as zero waste, through personal coaching. Additionally, WM creates, manages, and owns facilities for converting landfill gas into energy and recovers naturally occurring gas from landfills to produce electricity. It recycles a variety of materials, including glass, metal, cardboard, and plastic. In the US and Canada, the business provides services to municipal, commercial, residential, and industrial clients. Houston, Texas, in the US, is home to WM's headquarters.
Waste management and energy solutions are offered by Covanta Holding Corp (Covanta), an EQT AB affiliate. The business uses energy from waste (EfW) to produce power and recycles ferrous and non-ferrous metals at its facilities. The company offers recycling services for ferrous, non-ferrous, and other materials as well as management of liquid waste, pharmaceutical waste, electronic trash, secure product destruction, universal garbage, field waste, and industrial waste. Additionally, it offers on-site advising services, product recall services, and transportation and logistics services. The business provides its services to a number of sectors, including manufacturing, retail and consumer goods, chemicals, engineering and construction, and healthcare. Both Canada and the US are where it operates. The US city of Morristown, New Jersey, is home to Covanta's headquarters.
May 2021: Eramet and SUEZ have agreed to work together more on market-based end-of-life electric vehicle battery recycling. This collaboration is expected to offer the European market a highly implementable, affordable, and practical battery recycling option. Additionally, in March 2021, Veolia and Groupe Renault partnered to use closed-loop recycling to supply EV battery metals to the European economy.
February 2021: Company Shop Group ('CSG'), the largest and most prominent redistributor of leftover food and household goods in the UK, was acquired by Biffa Group.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 288.5 Billion |
| Market Size 2023 | USD 298.5 Billion |
| Market Size 2032 | USD 393.1 Billion |
| Compound Annual Growth Rate (CAGR) | 3.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Waste Type, Treatment Method, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Waste Management Inc. (USA), SUEZ Group (France), Veolia Environment S.A. (France), Biffa PLC (U.K.), Clean Harbors Inc. (USA), Covanta Holdings Corporation (USA), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Republic Services Inc. (USA), Stericycle Inc. (USA), Advanced Disposal Services Inc. (USA), ALBA Group (Germany), Recology (USA), TANA Oy (Finland), Envac Group (Sweden) |
| Key Market Opportunities | Economic incentives |
| Key Market Dynamics | Public awareness and participation |
Frequently Asked Questions (FAQ) :
The Solid Waste Management Market size was valued at USD 288.5 Billion in 2022.
The global market is projected to grow at a CAGR of 3.50% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Waste Management Inc. (USA), SUEZ Group (France), Veolia Environment S.A. (France), Biffa PLC (U.K.), Clean Harbors Inc. (USA), Covanta Holdings Corporation (USA), Hitachi Zosen Corporation (Japan), Remondis AG & Co. Kg (Germany), Republic Services Inc. (USA), Stericycle Inc. (USA), Advanced Disposal Services Inc. (USA), ALBA Group (Germany), Recology (USA), TANA Oy (Finland), Envac Group (Sweden).
The Industrial Waste category dominated the market in 2022.
The Disposal had the largest share in the global market.
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Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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