The global waste management market size is expected to reach $530.0 billion by 2025 from $330.6 billion in 2017, growing at a CAGR of 6.0% from 2018 to 2025. Waste management is the process of treating solid wastes, and involves different solutions to recycle items. It includes activities from its inception to final removal, such as collection, transport, treatment, and disposal of waste along with inspection and regulation. Advanced Disposal Services, Veolia Environment S.A, and Biffa Group are some of the leading key players operating in the waste management industry.

Increase in environmental awareness, rapid industrialization, surge in population, and rise in urbanization foster the growth of the global waste management market. In addition, implementation of stringent government norms toward open dumping is expected to fuel the waste management market growth.

Furthermore, uncollected waste and dumping are impacting on health directly or directly, which is expected to increase demand for waste management services. However, lack of awareness in developing countries and dearth of investments in solid waste management framework impede the growth for waste management industry analysis. The impact of the driving factors is expected to surpass that of the restraints; hence, the market is projected to grow at a CAGR of 6.0% from 2018 to 2025. Furthermore, emerging economies in Asia-Pacific and LAMEA have focused on adopting solid waste management solutions, which is expected to spread awareness and increase utility of these systems in the near future.

The waste management market is segmented based on waste type, service, and region. Based on waste type, the market is bifurcated into municipal waste, industrial waste, and hazardous waste. In 2017, the municipal waste management segment dominated the market, in terms of revenue, and is expected to maintain this trend in the coming years. By service, the market is classified into collection services (collection & transportation, storage & handling, and sorting) and disposal services (landfills, recycling, composting & anaerobic digestion, and others). Among these, the disposal service segment is anticipated to dominate the global waste management market throughout the forecast period.

Region wise, the waste management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to dominate the waste management market share in the near future, owing to increase in favorable government initiatives along with high-end technology adoption by management services. However, Asia-Pacific is anticipated to drive the demand for waste management services, due to the presence of densely populated countries such as China and India, where an increase in urban penetration is being witnessed. Moreover, government initiatives in India, such as Swachh Bharat Abhiyan, is expected to boost the demand for the waste management services.

Competitive analysis and profiles of the major waste management market players, such as CLEAN HARBORS, INC., Daiseki Co. Ltd., Waste Management Inc., Suez Environment S.A., Advanced Disposal Services, Veolia Environment S.A, Covanta, Remondis AG & Co. Kg, Biffa Group, and Hitachi Zosen Corporation, are provided in this report. The key strategies adopted by these players from 2015 to 2018 were product launch, acquisition, partnership, business expansion, and collaboration. For instance, Veolia, one of the leading waste management service providers, collaborated with Tetra Pak in November 2018 for recycling used beverage cartons collected within the European Union.

  Growth in urban population

The global urban population was reported to be 34% in 1960, revealing potential growth in urban population. As per the estimates and forecasts of the WHO, the global urban population is expected to grow by approximately 1.84% every year until 2020, that is, at the rate of about 1.63% per annum from 2020 to 2025, and around 1.44% per annum from 2025 to 2030. As per the data released by the World Bank, the amount of municipal solid waste (MSW), a crucial by-product of urban lifestyle, is growing at an even higher rate as than that of urbanization.

  Increased amount of waste generated

As per the data released by the World Bank, in 2018, the global municipal solid waste generated in 2016 was 2.1 billion tons, and is expected to reach approximately 3.40 billion tons by 2050. The countries with the highest per capita waste disposable rates are islands, most likely due to waste generated by the tourism industry. As per the data recorded in the year 2013, the annual waste generation in East Asia and the Pacific region is approximately 270 million tons per year. This quantity is majorly influenced by waste generation in China, which makes up 70% of the regional figures.

  Rise in environmental awareness

Increased environmental awareness regarding renewable waste management systems among people and rise in CO2 emissions, globally are expected to generate growth opportunities for the waste management systems market. Market players have been taking proactive measures to recycle MSW and are conducting programs for nonhazardous industrial waste management to reduce pollution and mitigate environmental hazards. Moreover, untreated waste and dumping affect health directly and indirectly by spreading vectors, which cause infectious diseases, thereby boosting the demand for waste management services.

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