Waste Management Market Sales to Generate $530.0 Billion by 2025, Globally--Allied Market Research

PORTLAND, Oregon, Sept. 3, 2019 /PRNewswire/ -- According to a new report published by Allied Market Research, titled, "Waste Management Market by Waste Type and Service: Global Opportunity Analysis and Industry Forecast, 2018–2025," 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.

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Increase in environmental awareness, rapid industrialization, surge in population, and rise in urbanization foster the growth of the global waste management market. In addition, implementation of stringent government norms toward open dumping is expected to fuel the market growth. The other key factors that boost the growth of the waste management market include growth in adoption of recycling techniques and development of innovative technologies and advanced waste collection solutions to enhance collection processes.

Leading market players such as Clean Harbors, Inc., Waste Management Inc., Suez Environment S.A., and Advanced Disposal Services with diverse products offerings seek growth opportunities in the global waste management market to consolidate their position. The global waste management market is projected to exhibit a notable growth by 2025. In addition, uncollected waste and dumping are impacting on health directly or directly, which is expected to increase demand for waste management services.

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.

According to Vivek Banik, Lead Analyst, Construction and Manufacturing at Allied Market Research, "Increase in urbanization coupled with deterioration of environment to support industrial development augment the demand for waste management services, thereby driving the growth of the market. In addition, robust increase in municipal waste, owing to rapid rise in population boost the development of the waste management industry."

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.

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KEY FINDINGS OF THE STUDY

• The municipal waste segment generated the highest revenue in 2017, and is projected to grow at a CAGR of 5.8% during the forecast period.
• The disposal services sector is expected to grow at a significant CAGR of 6.9% during the forecast period.

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.

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SOURCE Allied Market Research