The global Waste Management Market size is expected to reach USD 1,966.19 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2023 to 2030. Proactive government measures to decrease illegal dumping and the rising adoption of waste-to-energy (WTE) incineration and recycling techniques are anticipated to boost the market growth.

Rapid industrialization in developing countries such as India and China generates waste and causes pollution by the end-use industries. Rising environmental awareness regarding renewable waste management among individuals and increasing CO2 emissions across the globe are expected to have a positive impact on the market growth over the forecast period.

The adoption of plastics in packaging, consumer goods, transportation, electrical/electronic, and machinery manufacturing industries is witnessing significant growth. Rising demand for consumer electronics such as mobiles, which are typically composed of 40% plastic, PCs/laptops, washing machines, and dishwashers is expected to boost the market growth.

The demand for electronic products is rising rapidly globally, resulting in the increased generation of e-waste. The electronics companies are focusing on the usage of recycled material for production to limit the environmental degradation caused by e-waste. The rising demand for recycled materials from the electronics industry is expected to foster market growth.

The governments of various countries have introduced regulations regarding the effective disposal of wastes such as the landfill directive (1999/31/EC) standards for landfills announced by the European Union. The rising adoption of these regulations is expected to enhance sustainable waste management practices including recycling and anaerobic digestion, thereby fueling the market growth.

Companies are focusing on mergers and acquisitions to increase the consumer base and expand their geographical presence. For instance, in October 2020, Waste Management acquired Advanced Disposal Services, providing waste management services to around new 3 million residential, industrial, and commercial customers in the U.S.

Related Press Release@ Waste Management Market Report

Waste Management Market Report Highlights

• The disposal segment is estimated to expand at the highest CAGR of 5.9% over the forecast period as the sustainable methods of disposal reduce pollution and recycled materials can also be used in various end-use industries
• The industrial waste type segment accounted for the largest revenue share of over 85.9% in 2022 owing to the increasing generation of waste from several end-use industries such as oil & gas, chemical, construction, and electronics
• Asia Pacific led the industry and accounted for over 24.5% share in 2022 on account of the rising adoption of various waste management techniques for limiting the environmental degradation in the region
• India is estimated to expand at a lucrative CAGR of 7.2% from 2022 to 2030, in terms of revenue, on account of the rising awareness regarding health hazards and diseases caused by improper waste disposal in the country
• In May 2021, SUEZ entered into a partnership with Eramet, a key manufacturer in the extraction and valorization of metals, to offer a sustainable and high-performance battery recycling solution for the European market