Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Solid Waste Management Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global solid waste management market is poised for steady growth, with a projected Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2031.
Solid waste management involves the collection, processing, and disposal of unwanted solid materials generated by human activities. This waste includes organic matter, paper, plastic, glass, metal, and more. Proper waste management is essential for public health and environmental protection.
Market Drivers:
- Growing Awareness: Increased awareness of the impact of improper solid waste management on human health and the environment is driving demand for effective waste handling.
- Environmental Benefits: Proper waste management enhances the aesthetics of the surroundings, reduces pollutants in the air, water, and soil, and prevents the spread of diseases, contributing to environmental protection.
- Recycling: The need to recycle waste materials to preserve raw materials, reduce economic burden, and achieve sustainable development goals is boosting the waste management industry.
- E-Waste: The decreasing lifespan of electronic products and increased purchasing power are leading to higher electronic waste generation, necessitating effective e-waste management.
Challenges:
- High Operating Costs: Waste management involves significant initial investments and operating costs for equipment, personnel, and infrastructure.
- Infrastructure Deficiency: Lack of essential infrastructure for waste collection and sorting hinders efficient waste segregation and recycling.
- Plastic Recycling Costs: Recycling plastics is often costlier than producing new plastic due to the complexity of separating and processing various plastic types and additives.
Market Segmentation:
- Waste Type:
- Industrial Waste
- Municipal Waste
- Organic Matters
- Paper
- Plastic
- Glass & Metal
- Others
- Treatment Method:
- Collection
- Processing
- Recycling
- Composting
- Disposal
- Landfilling & Open Dump
- Incineration
- Service Type:
- Open Dumping
- Incineration/Combustion
- Landfill
- Recycling
- Composting & Anaerobic Digestion
- End User:
- Residential
- Commercial
- Industrial
Regional Insights:
- Europe: Led by well-developed infrastructure and stringent waste management regulations, Europe holds the largest market share.
- North America: The United States, with a waste collection rate of over 98%, drives market growth in North America.
- Asia Pacific: Rapid industrialization and population growth in countries like China and India are boosting the waste management market in the region.
Key Players:
- Clean Harbors, Inc.
- Hitachi Zosen Corporation
- SUEZ
- Covanta Holding Corporation
- OMNI Conversion Technologies, Inc.
- Keppel Seghers
- Wheelabrator Technologies, Inc.
- Biffa
- China Everbright Environment Group Limited
- Cleanaway
- Stericycle
- Sims Limited
- Recology
- Waste Management, Inc.
- Veolia
- Waste Connections
Future Outlook:
As the world continues to grapple with waste management challenges, innovation and technology will play a pivotal role in enhancing efficiency and sustainability. Key players are expected to invest in new waste management technologies and expand their geographical reach to meet the growing demand for responsible waste handling.
For more information about this report visit https://www.researchandmarkets.com/r/crlnv4
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