Waste Watch: Insights into the Waste Management Market 2023-2030
Waste Management Industry | Forecast 2030
Waste Management Industry Data Book - Plastic Waste Management, Food Waste Management and Waste Recycling Services Market
The economic value generated by the industry was estimated at approximately USD 1.24 trillion in 2021. This economic output is an amalgamation of businesses that are involved in the services of waste collection, transportation, and disposal activities. Disposal activities mostly include incineration, landfill, composting, and recycling processes.
Access the Global Waste Management Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Waste Management Industry Data Book Coverage Snapshot
Markets Covered
- Waste Management Industry USD 1.24 trillion in 2021
- Liquid Waste Management Market Size USD 90.30 billion in 2018 3.8% CAGR (2019-2025)
- Drilling Waste Management Market Size USD 4.02 billion in 2016 6.6% CAGR (2017-2025)
- Plastic Waste Management Market Size USD 33.06 billion in 2019 3.1% CAGR (2020-2027)
- Food Waste Management Market Size USD 34.22 billion in 2019 5.4% CAGR (2020-2027)
- Waste Recycling Services Market Size USD 54.39 billion 2020 5.2% CAGR (2021-2028)
Liquid Waste Management Market Growth & Trends
The global liquid waste management market size is anticipated to reach USD 114.87 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.3% over the forecast period. The growing utilization of water per household globally is expected to drive liquid waste generation in the residential and commercial sectors. Factors, such as stringent regulations coupled with ongoing investments in various industries, such as oil & gas, petrochemical, and chemical, are expected to drive the demand for wastewater secondary treatment equipment, which is expected to further drive the demand for liquid waste management. For instance, The Bipartisan Infrastructure Legislation (BIL) offers support to local economies and makes the most of federal infrastructure initiatives already in place to meet the demand for wastewater infrastructure in disadvantaged areas of the country.
For instance, the BIL offers USD 11.7 billion through the Clean Water State Revolving Fund (CWSRF), with 49% of funds accessible as grants as of March 2022. These aforementioned initiatives will further drive the market expansion in the coming years.The discharge of untreated wastewater and other liquid waste from homes, municipal facilities, and industries into water bodies causes water pollution, thereby, threatening the environment as well as human and animal life. The collection and treatment of sewage and wastewater are very critical for public health as well as clean water. Thus, the U.S. government has introduced stringent regulations and standards for wastewater treatment for both municipal and industrial sectors, which is expected to drive the market over the forecast period.
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Plastic Waste Management Market Growth and Trends
The global plastic waste management market size is anticipated to reach USD 42.2 billion by 2027, expanding at a CAGR of 3.1%, according to a new report by Grand View Research, Inc. Economic growth, rising industrialization, increasing urbanization, and growing health awareness are the major factors, which are likely to boost market growth over the forecast period.
Regulations pertaining to each end-use industry, along with other specifications pertaining to plastic waste management are expected to create opportunities in the market. Increasing awareness towards sustainable advantages and benefits of reusing and recycling are projected to drive the market.
Plastic waste management is a collective approach to recycle the plastic or to generate energy through incineration. In addition, such recycling of waste will help save resources and protect the environment. Moreover, it can help reduce the manufacturing cost of companies by recycling the materials.
Go through the table of content of Waste Management Industry Data Book to get a better understanding of the Coverage & Scope of the study
Drilling Waste Management Market Growth and Trends
The global drilling waste management market is expected to reach USD 7.13 billion by 2025, according to a new report by Grand View Research, Inc. Growing ecological awareness towards effective treatment and disposal of drilling wastes coupled with strict regulations to enforce the laws will boost the market growth.
Increasing drilling activity for natural gas exploration along with growing construction sites for residential and commercial spaces is predicted to drive the global drilling waste management market over the forecast timeframe. Applications of the market include onshore and offshore drilling wastes. Onshore application segment is the dominant sub-segment of the market, while the offshore application is predicted to witness significant growth by 2025. North America leads the onshore application segment owing to the unprecedented domestic production levels crude oil, largely due to the wide adoption of innovative technologies including hydraulic fracturing and horizontal drilling, signalling the onset of a shale revolution.
Food Waste Management Market Growth & Trends
The global food waste management market size is anticipated to reach USD 106.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2023 to 2030. Rising concerns over food waste globally, and increasing consumer preference for exotic food items, are expected to drive the market growth during the forecast period.
The consumption of ready-to-eat and packaged foods is also predicted to increase as a result of changing lifestyles and an increase in the number of dual-earner families. Growing consumer demand for unusual food items like premium coffee, tropical fruits, and imported goods is anticipated to increase the amount of food that is wasted, which in turn is likely to drive market expansion.
The food industry is undergoing tremendous change such as plastic ban, the rise of veganism, stringent regulatory framework, the presence of e-commerce, the adoption of modern technologies, and waste reduction, and is seeing an increase in international trading of food and food ingredients, which is creating new supply chains, thereby augmenting the market demand.
Waste Recycling Services Market Growth & Trends
The global waste recycling services market size is anticipated to reach USD 81.3 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth.
Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects.
Competitive Insights
Major players in this market include Veolia Group, Waste Management Inc., Covanta Holding Corporation, Stericycle, Inc., Clean Harbors, Inc., Biffa, Hawkvale Limited, etc. The industry participants focus on research & development activities to develop new technologies for effective waste management. Along with R&D, key players also focuses on merger & acquisition, joint ventures, and strategic partnerships to expand the business and gain a competitive edge over their peers.
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