Waste Management Market is Projected to Grow at a CAGR of 6.0% from 2018 to 2025
An increase in environmental awareness, rapid industrialization, surge in population, and a rise in urbanization foster the growth of the global waste management market. In addition, the implementation of stringent government norms toward open dumping is expected to fuel market growth.
the global waste management market size accounted for $330.6 billion in 2017 and is expected to reach $530.0 billion by 2025, growing at a CAGR of 6.0% from 2018 to 2025. In 2018, Europe dominated the global market, in terms of revenue, accounting for about 39.0% share of the global waste management market, followed by North America.
Leading market players such as Clean Harbors, Inc., Waste Management Inc., Suez Environment S.A., and Advanced Disposal Services with diverse product offerings seek growth opportunities in the global waste management market to consolidate their position.
Europe accounted for the highest market share in the waste management market in 2017 and is expected to maintain its dominance throughout the forecast period, owing to technological leadership and implementation of stringent government regulations toward waste management in the region. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the rapidly developing industrial infrastructure and rise in awareness among consumers and companies regarding waste management.
The major players profiled in the report include Advanced Disposal Services, Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis AG & Co. Kg, Suez Environment S.A., Veolia Environment S.A., Waste Management Inc. The parameters considered for the representation are geographical outreach, key strategies adopted, and their focus on the waste management segment offerings for residential and nonresidential sectors.
Based on service, the waste management market is bifurcated into collection services and disposable services. Disposal service is expected to reach $287.4 billion by 2025, growing at a CAGR of 6.9% during the forecast period.