Waste Management Market
Global Waste Management Market is Expected to Reach USD 573 Billion by 2027, growing at a 5.6% CAGR during the forecast period, due to increasing use to manage waste products and underestimate the environmental impact of waste.
The factors driving the growth of Waste Management Market includes rise in the waste volumes around the world, growing awareness amongst consumers about renewable waste management systems and increase in the production of metals and salts in large quantities. According to the report published by World Bank, around 2.24 billion tonnes of solid waste was generated worldwide in 2020 and is expected to reach 3.88 billion tonnes in 2050, rising by 73%, which will accelerate the Global Waste Management Market size in the approach years. Moreover, increasing use of construction and demolition (C&D) materials in the cities, rapid urbanization, rising disposable incomes, improvements in the living standards and growing population growth rates, are some of the important factors supplementing the Waste Management Market share. As per Statista, the Global Construction Market was calculated around USD 6.4 trillion in 2020 and is anticipated to reach USD 14.4 trillion by the end of 2030, which will accelerate the market growth in the upcoming years.
However, the growth of Waste Management Market is hindered due to high cost of procuring waste management solutions.
Based on Type, the Landfill segment is predicted to capture the largest market share during the forecast period
Modern landfills are environment friendly, increasingly used by municipal corporations to keep cities and districts clean and supports jobs and local businesses in the economy and are some of the factors propelling the segment’s growth.
Based on End-User, the Residential segment is anticipated to hold the highest market share over the forecast period
As per the Waste Management Market Analysis, rising consumers preference towards online shopping and waste such as paper, cans and bottles are discarded separately for recycling purposes in residential complexes, are the major factors responsible for the segment’s growth.
Based on Region, the Asia-Pacific region dominated the Waste Management Market in 2020
According to the Waste Management Market Report, rise in the solid waste generation, growing awareness about non-ecofriendly packaging solutions, Government’s regulations regarding the ban on single -use plastics, increasing disposable incomes, rapid urbanization, and high population growth rates, are some of the important factors augmenting the segment’s growth.
Waste Management Market by waste type
Waste Management Market by service type
Waste Management Market by end user
Waste Management Market by Region
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