What Fueled The Previous Growth In The Solid Waste Management Market?
The solid waste management market has seen considerable growth due to a variety of factors.
• The solid waste management market has grown significantly in recent years. It will rise from $314.69 billion in 2024 to $330.51 billion in 2025 at a CAGR of 5.0%.
Contributing factors include the adoption of sustainable waste management practices, utilizing waste as a source of renewable energy, public health concerns, economic growth, and urbanization.
How Does the Forecast Look for the Solid Waste Management Market?
The solid waste management market is expected to maintain its strong growth trajectory in upcoming years.
• The solid waste management market is expected to grow steadily, reaching $396.32 billion by 2029 at a CAGR of 4.6%.
This growth is driven by climate change mitigation efforts, regulatory compliance, industrialization, smart city constructions, and increased climate change awareness. Trends include bio-based alternatives, technological innovations, waste-to-energy technologies, public-private partnerships, and smart waste management systems.
What Are The Leading Drivers Of Growth In The Solid Waste Management Market?
With the escalation of environmental considerations, the solid waste management market is anticipated to expand. Being conscious about the environment signifies an understanding and respect for the health of our planet and its ecosystems. Such concerns are intensifying due to severe weather conditions, increased cognizance of climate change, and humans' environmental impacts. Solid waste management is crucial for alleviating ecological pollution, preserving resources, reducing greenhouse gas outputs, safeguarding ecosystems, endorsing principles of the circular economy, and enhancing community health. For instance, Environment and Climate Change Canada, a Canada-based government agency announced in May 2024 that total greenhouse gas emissions in Canada during 2022 were 708 Megatons (Mt CO2 eq), a 1.3% increase from 698 (Mt CO2 eq) in 2021. Moreover, as stated by the US Energy Information Administration in June 2024, CO2 emissions in the US for 2021 amounted to 35.72 billion metric tons, rising to 38.50 billion metric tons in 2022. Hence, environmental concerns are propelling the success of the solid waste management market.
How Are The Segments Defined Within The Global Solid Waste Management Market?
The solid waste management market covered in this report is segmented –
1) By Waste: Municipal, Industrial
2) By Material: Paper And Paperboard, Plastic, Metals, Food, Textiles, Other Materials
3) By Service: Open dumping, Incineration Or Combustion, Landfill, Recycling, Composting And Anaerobic Digestion
4) By End-User: Residential, Commercial, Industrial
Subsegments:
1) By Municipal Waste: Residential Waste, Commercial Waste, Institutional Waste
2) By Industrial Waste: Manufacturing Waste, Construction And Demolition Waste, Agricultural Waste
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What Trends Are Reshaping The Future Of The Solid Waste Management Market?
Leading enterprises in the solid waste management market are introducing new technologies, including waste sorting robots, to increase the precision and efficiency of waste sorting methods, enhance recycling levels, and advocate for eco-friendly waste management practices. Designed to automate the sorting and division of various waste materials, waste sorting robots are transforming the industry. For example, ZenRobotics, the Finland-based intelligent sorting robots provider for the waste industry, unveiled its fourth version, ZenRobotics 4.0, in February 2024. This latest version showcases state-of-the-art features and an improved level of artificial intelligence (AI) designed to streamline and enhance the efficiency of waste sorting operations. This robot signifies a substantial leap in waste sorting technology, providing more than just a nominal upgrade to waste management processes.
Who Are the Key Players In The Solid Waste Management Market?
Major companies operating in the solid waste management market are:
• Veolia Environment S.A.
• Waste Management Inc.
• Republic Services Inc.
• Remondis AG & Co. Kg
• Rethmann AG & Co KG
• SUEZ Group
• Waste Connections Inc.
• GFL Environmental Inc.
• Clean Harbors Inc.
• Hitachi Zosen Corporation
• Stericycle Inc.
• Paprec Group
• Cleanaway Waste Management Limited
• Renewi plc
• Covanta Holdings Corporation
• Biffa Limited
• Advanced Disposal Services Inc.
• Biffa Group PLC
• Recology
• Waste Pro USA
• Casella Waste Systems Inc.
• FCC Environment Limited
• Viridor Limited
• Urbaser SAU
• ALBA Group
• Envac Group
• Keppel Seghers
• TANA Oy
What Is The Most Dominant Region In The Solid Waste Management Market?
North America was the largest region in the solid waste management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
