The global construction waste management industry is expected to witness 8% CAGR during the forecast period and is expected to be valued at USD 32.0 Billion by the end of the forecast period.
Global Construction Waste Management Market is expected to witness sustainable growth during the forecast period owing to the growing construction industry and the rising standard and designs for sustainable buildings. Various reforms and regulations introduced by developing nations for boosting the infrastructure and real estate industries drive the growth of the global construction waste management market. Moreover, an increase in reconstruction and remodeling of houses, due to changing preferences of end-users fuel the market growth. However, fluctuating raw material prices and the rise in environmental concerns might hamper the market growth as it is made from hazardous construction waste materials. The rising consumer demand for construction waste management in emerging economies creates growth opportunities for market players.
Asia-Pacific is expected to dominate the global construction waste management market during the forecast period:
Based on the region, the construction waste management market is segmented into North America, Asia-Pacific, Europe, and the rest of the world. Asia-Pacific dominated the global market, followed by North America, primarily due to the growth in the construction industry in China and India. Moreover, the increasing FDI inflow into the construction industry leading to the growth of the construction industry in Asia-Pacific is expected to drive the growth of the Asia-Pacific market. The rising real estate investments and a growing number of Special Economic Zones (SEZs) in developing countries, mainly in India, are the other significant factors driving the market growth in Asia-Pacific.
North America has witnessed significant growth in the construction industry, owing to the increased home improvement and renovation projects in the region. As per the US Census Bureau data, the total annual value of private construction in the US is USD 992,528 million in 2018, USD 539,800 million of which is for residential construction. The high growth in the construction industry in North America is expected to drive the construction waste management market in the region during the forecast period.
The non-hazardous waste segment is set to occupy a large share of the global construction waste management market:
The global market is segmented, based on waste type, into hazardous waste and non-hazardous waste. The non-hazardous waste segment is further divided into building material wastes and dredging material wastes. The non-hazardous waste segment is expected to witness high growth during the forecast period. Non-hazardous waste construction management is environment-friendly and budget-friendly, which is expected to drive the growth of this segment.
The non-residential segment is set to occupy a large share of the global construction waste management market:
The global construction waste management market is divided, based on application, into residential and non-residential. The non-residential segment is poised to witness a high growth rate during the forecast period owing to the high investment inflow in the construction industry, mainly for the construction of offices, malls, hospitals, and schools, among others.
Scope of the Report
This study provides an overview of the global construction waste management market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global construction waste management market by type, application, and region.
The prominent players in the Global Construction Waste Management Market are WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation, among others.