According to the current analysis by Emergen Research, the global Solid Waste Management Market size will exceed USD 1,193.88 Billion in terms of revenue, from USD 1,000.12 Billion in 2017, delivering a CAGR of 2.4% through 2027. The market growth is driven by rapid industrialization across emerging economies and the introduction of strict government regulations regarding solid waste disposal and management.
With burgeoning population growth across the globe and increased amount of waste generated annually is resulting in high demand for solid waste management solutions. The utilization of the MSW (municipal solid waste) as an alternative fuel to generate renewable energy sources through biological and thermal and techniques is expected to offer lucrative opportunities for solid waste management market growth. Implementation of policies regarding the proper solid waste disposal, including direct subsidies, carbon tax or landfill taxes will also support the adoption of solid waste management solutions.
Favorable government initiatives to reduce carbon emissions and contamination of water bodies will bolster solid waste management market expansion. Moreover, a paradigm shift towards waste recycling and Zero waste generation in developed countries will further foster market size through 2027.
Key Highlights From Report
- Based on waste, the industrial solid waste sub-segment accounted for 57.6% of the global market share in 2019. The demand for solid waste management solutions is increasing across the industrial sectors due to rapid industrialization in the emerging economies along with high adoption rate of renewable sources of energy in industries.
- On the basis of treatment type, the processing sub-segment is expected to showcase a CAGR of 3% during the analysis period. The growth is driven by increasing need for solid waste recycling due to scarcity of landfill sites in the populated cities.
- Based on material, the plastics sub-segment accounted for a major chunk of the global solid waste management market share in 2019 and is expected to make significant revenue contribution through 2027 on account of increasing amount of plastic waste generated from the packaging sector annually.
- In the regional landscape, the APAC region is forecast to be the fastest-growing market for solid waste management during the analysis period. Implementation of strict government regulations regarding emission control in order reduce greenhouse gas emission in the environment is favoring regional industry growth.
- Key players operating in the global solid waste management market are Hitachi Zosen Corporation, Covanta Holding Corporation, Clean Harbors, Inc, Cleanaway, Recology, Wheelabrator Technologies, Veolia Environment SA (Veolia), Waste Management, Inc., Advanced Disposal Services, and SUEZ, among others.
- Veolia and Nestle entered into a partnership in March 2019 for the development of a recycling program. The alliance is a part of a series of specific initiatives introduced by Nestle to combat plastic pollution.
Emergen Research has segmented the Global Solid Waste Management Market on the basis of Waste, Treatment, Material, and region:
- Waste Outlook (Revenue, USD Billion; 2017-2027)
- Industrial Solid Waste
- Municipal Solid Waste
- Treatment Outlook (Revenue, USD Billion; 2017-2027)
- Processing (Recycling, and Anaerobic Digestion)
- Disposal (Landfill & Open Dump and Incineration)
- Material Outlook (Revenue, USD Billion; 2017-2027)
- Paper & Paperboard
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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