Waste Management Market Size was valued at USD 428.5 Billion in 2022. The Waste Management market industry is projected to grow from USD 453.4 Billion in 2023 to USD 711.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). Technological developments and shorter product life cycles have increased the amount of e-waste produced, and awareness of appropriate garbage disposal has grown are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Waste Management is being driven by electronic goods causing an increase in electronic waste. Increasingly, garbage disposal and waste segregation awareness initiatives are one of the main drivers of the industry expansion. Because of growing environmental concerns, greater urbanization and industrialization, and the widespread use of methods that minimize waste, the Waste Management industry is predicted to grow even more in the upcoming years.
Additionally, an electronic product's life cycle typically consists of the following stages: development, introduction, growth, maturity, and disposal or recycling. An electrical product reaches the recycling stage for a variety of reasons, including the end of its useful life, advancements in technology, or shifting market demands. New electronic devices and improved versions of current products, such laptops, mobile phones, and televisions, are produced as a result of the rapid improvements in technology. In a similar vein, the shelf life of technological devices decreases as people's purchasing power rises. Every year, new iterations of smart phones and other electronics are released; the previous models are either discarded or offered for sale on websites so they can be used again.
Global trash creation has increased due to factors such as growing populations, consumerism, economic growth, and increased urbanization. An estimated two billion metric tons of waste are produced year on average, and over the next few decades, this amount is predicted to increase, placing further strain on the waste industry. The necessity and significance of an effective Waste Management system globally have been further underscored by the growing concern over waste pollution. There is a growing global awareness of the need to properly dispose of garbage in order to protect human and animal health, which has led to the development of several disposal strategies.
For instance, The Energy and Resources Institute (TERI) said that India produces more than 62 million tons (MT) of garbage each year. Of the entire garbage created, only 43 MT are collected, of which 12 MT are processed before to disposal and 31 MT are dumped in waste yards. India's usage of plastic has increased significantly, increasing the country's garbage output. Only thirty percent of the 3.4 million tones of plastic waste produced in the nation each year is recycled, demand for Waste Management supplements will increase due to electronic goods contributing to a rise in e-waste. Thus, result in driving the Waste Management market revenue.
The Waste Management Market segmentation, based on waste type includes Hazardous, E-waste, Plastic, Bio- medical Waste and Others. The E-waste segment dominated the market. This is because many dangerous materials, including mercury, brominate flame retardants (BFRs), hydro chlorofluorocarbons (HCFCs), and chlorofluorocarbons (CFCs), are present in e-waste. The environment and even human health are seriously endangered by the rising amounts of e-waste, inadequate collecting crates, improper dumping, and improper treatment of this garbage. Global warming is also a result of improper e-waste treatment.
The Waste Management Market segmentation, based on Service, includes Open Dumping, Incineration/Combusion, Landfill, Recycling, and Composting & Anaerobic Digestion. The Landfill generated the most income. This is because landfills of today are professionally designed and run facilities for disposing of solid waste. Landfills are planned, situated, run, and observed to guarantee that they adhere to the rules as specified. Additionally, they are made to shield the environment from any pollutants that might be found in the waste stream. Environmentally sensitive locations are off-limits for landfill construction, and the sites are monitored by environmental monitoring equipment on-site.
The Waste Management Market segmentation, based on End User, includes Residential, Commercial, and Industrial. The Residential generated the most income. Because this group includes waste that is collected from single- and multi-family homes. The garbage produced by households is made up of discarded plastic bags, consumer durables, toys, e-waste, fast-moving consumer goods (FMCG), household hazardous wastes, and other packaging materials. Also, a considerable increase in the amount of plastic garbage produced by the residential sector has resulted from rising disposable income and a shift in consumer preferences toward online shopping.
Figure1: Waste Management Market, by End user,2022 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Waste Management market area will dominate this market, owing to an increase growing population, which increases garbage production will boost market growth in this region.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: Waste Management Market Share By Region 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Waste Management market has the second-largest portion of the market due to use of ecologically friendly and reasonably priced Waste Management solutions is probably going to increase. Further, the German Waste Management market had the biggest market share, and the UK Waste Management market was the fastest growing market in the European region
The Asia-Pacific Waste Management Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is due to infrastructure investments in Waste Management by the public and private sectors support. Moreover, China’s Waste Management market had the biggest market share, and the Indian Waste Management market was the fastest growing market in the Asia-Pacific region.
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Waste Management industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the global Waste Management industry to help customers and expand the market segment. In recent years, the Waste Management industry has provided some of the biggest benefits to medicine. Major players in the Waste Management market, including Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US), And others are attempting to increase market demand by investing in research and development operations.
Veolia Environnemet S.A., commonly known as Veolia, is a multinational corporation based in France that operates in three primary service and utility domains that are customarily overseen by public authorities: energy services, Waste Management, and water management. Through Veolia Transport, a subsidiary, it has previously overseen transportation services as well.In March 2021, the business declared the creation of Veolia Transdev, which was the outcome of the merger between Transdev, a Caisse des Dépôts subsidiary, and its own transport subsidiary, Veolia Transport.
England's High Wycombe is home to Biffa plc, a Waste Management business. For local governments, businesses, and industrial and commercial clients in the UK, it offers collection, dumping, recycling, and special waste services. In terms of garbage management, it was the second-biggest in the UK in 2017. Before being purchased by the private equity group Energy Capital Partners, it was traded on the London Stock Exchange. In June 2022, Energy Capital Partners, a private equity group, made a purchase offer to Biffa for £4.45 per share, which represented a 37% premium over the share price and valued the business at £1.36 billion. The court gave the project approval, so it could move forward.
August 2023: Mumbai's solid Waste Management (SWM) was improved by an analysis of the very effective 'Indore model' by the Brihanmumbai Municipal Corporation (BMC). Thanks in part to this strategy, Indore—dubbed the 'Mini Mumbai' of Madhya Pradesh—has been able to hold the title of cleanest city in India for six years running.
January 2022: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a "Maharatna," introduced a new project called "Sound Management of Waste Disposal (SMWD).
May 2021: Eramet and SUEZ joined together to expand their joint ventures in the end-of-life electric vehicle battery recycling sector. It is anticipated that this collaboration will present the European market with a very feasible, reasonably priced, and useful battery recycling choice.
Waste Management Regional Outlook
| Report Attribute/Metric | Details |
| Market Size2022 | USD 428.5 Billion |
| Market Size 2023 | USD 453.4 Billion |
| Market Size2032 | USD 711.7 Billion |
| Compound Annual Growth Rate (CAGR) | 5.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Waste, Service, End User, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | ย Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US), Biffa (England), Clean Harbors (US), Covanta Holding (US), Daiseki (Japan), Hitachi Zosen (Japan) |
| Key Market Opportunities | Rise in construction projects, urban regions are utilizing more building. |
| Key Market Dynamics | The increase in e-waste is a result of technological advancements and shorter product life cycles for electronics. |
Frequently Asked Questions (FAQ) :
The Waste Management Market size was valued at USD 428.5 Billion in 2022.
The global market is projected to grow at a CAGR of 5.80% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US), Biffa (England.
The E-waste dominated the market in 2022.
The Landfill had the largest share in the global market.
Analyst Explore the profile of garvit vyas, one of our esteemed authors at market research future, and access their expert research contributions in the field of market research and industry analysis
Get in Touch
ยฉ 2024 Market Research Future ยฎ (Part of WantStats Reasearch And Media Pvt. Ltd.)
