Global Solid Waste Management Market- Market Overview:

The global solid waste management market is expected to grow from USD 315.6 billion in 2022 to USD 422 billion by 2030, at a CAGR of 3.7% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising e-waste generation due to of increased penetration of electronic gadgets.

Solid waste management refers primarily to the collection, treatment, and disposal of solid wastes, including their collection, transportation, treatment, analysis, and disposal. Wastes are collected from various sources, then treated, and disposed of, and in the process, the wastes are transported, processed, analyzed, and disposed of. As urbanization and industrialization continue to generate significant amounts of waste, solid waste management is becoming an increasingly important issue around the world. Increasing government initiatives to raise awareness about waste segregation and waste management also contributes to market growth. The growing interest of companies in waste management towards improving the renewable benefits of waste contributes to the market's expansion. Further, Innovative waste management solutions have created a new technological trend in the market, traditional waste collection methods are highly resource-consuming and often follow predefined routes, which sometimes results in unnecessary resource consumption. Through the new Internet of Things (IoT)-based technologies, garbage collection procedures can be improved, waste fill patterns can be identified, driver schedules can be optimized, and operational costs can be reduced, which will create more growth opportunities for the market growth. Due to the decreasing cost of sensors, IoT-based garbage collecting bins are anticipated to become a viable smart solution for waste management.

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Market Dynamics:

Drivers:                          

• Technological innovations

New electronic gadgets and enhanced versions of existing products, such as laptops, mobile phones, and others, are produced by rapid technological advancements. Electrical devices have a shorter shelf life as people's purchasing power increases, as well. The older models of mobile phones and other electronic devices are often abandoned or sold online for recycling as newer versions are released. With decreasing product lifespans, an increasing amount of e-waste is generated. The formation of electronic waste, which increases the demand for electronic waste management, generates the need for recycling electronic products.

Restraints:         

• Improper garbage disposal

There is a significant danger to municipalities and others involved in waste management if garbage is not properly disposed of. If garbage is not properly disposed of, it can negatively affect the health of people living near landfills or polluted areas. Inadequately treated plastic waste can cause skin irritations, respiratory problems, growth disorders, and even reproductive issues. In the case of solid waste management, scientific treatment, inappropriate garbage collection, and ethical issues such as the dumping of e-waste are all important considerations.

Opportunities:

• Rapid urbanization

Urban population growth and construction activities are among the primary opportunities for solid waste management market expansion. The population migration from rural to urban areas has also sharply increased the production of residential solid wastes, construction activity generates a significant volume of construction waste that is diverted from the waste stream. Materials diverted from the waste stream are then recycled or reused if necessary.

Challenges:

• Plastic recycling is expensive

Although solid waste management pavers are expensive and require a great deal of labour, they require little maintenance, so they are worth the investment. When well-constructed solid waste management driveways last for over 100 years, they are still stable and useful, but once they crack or get damaged, they can be costly to repair. Solid waste management paving that is mortar-joined is more susceptible to problems, particularly in colder climates where frost/thaw cycles can cause seams to break.

Segmentation Analysis:

The global solid waste management market has been segmented based on waste type, service, end-user, and region.

By Waste Type

The waste type segment includes bio-medical, hazardous, plastic, and e-waste. The e-waste segment led the largest share of the solid waste management market with a market share of around 39.3% in 2022. Increasing levels of electronic waste, low collection rates, improper disposal and treatment of this garbage threaten the environment and human health. In addition to contributing to global warming, errors in the management of e-waste contribute to the environmental degradation of the planet. A segment like an e-waste cannot initially replace primary raw materials or lower greenhouse gas emissions from extracting and refining raw materials if it is not recycled; this will drive its growth.

By Service

The service segment includes landfill, open dumping, recycling, and incineration. The landfill segment led the largest share of the solid waste management market with a market share of around 41.3% in 2022. A well-managed landfill is used for disposing of solid waste nowadays, and landfills are planned, placed, and monitored to ensure adherence to state regulations. Additionally, they are designed to protect the environment from toxins in the waste stream. By establishing strict guidelines for landfill construction, operations, and closure (RCRA), the Resource Conservation and Recovery Act is expected to accelerate growth in the segment.

By End-User

The end-user segment includes commercial, residential, and industrial. The residential segment led the largest share of the solid waste management market with a market share of around 42.8% in 2022. With 42.8% of global revenue accounted for by residential waste in 2022, this category includes waste gathered from both single-family and multifamily residences. Household garbage consists of old plastic bags, consumer durables, toys, fast-moving consumer goods (FMCG), e-waste, household hazardous waste, and other packaging materials.

Global Solid Waste Management Market - Sales Analysis.

The sale of solid waste management expanded at a CAGR of 3.1% from 2016 to 2022.

Companies are developing new recycling technologies to process materials that are hard to recycle, such as plastic film and multi-layer packaging, to manage waste more efficiently and sustainably. Waste-to-energy technologies, which convert waste into electricity, are also receiving increasing attention.

The market players will also have profitable opportunities in the Projection period as a result of the public and private sector partnership regarding solid waste management. Furthermore, government regulations regarding plastic disposal and management, as well as recycling toxic waste, will further expand the solid waste management market in the future.

The solid waste management market is expected to be driven by the government's increasing efforts to control solid waste over the Projection period. As poorly managed waste can pollute surface water and groundwater with leachate, poorly collected and disposed of waste can pose a threat to the environment. The demand for proper solid waste management propels which will be beneficial for market growth.

Thus, owing to the aforementioned factors, the global solid waste management market is expected to grow at a CAGR of 3.7% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the solid waste management market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the solid waste management market and held a 40.1% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. With more people moving from rural areas to urban areas in Asia Pacific, solid waste generation is expected to rapidly increase, leading to the dominance of the region by the Asia Pacific region. Asia and the Pacific will have 5.1 billion people by 2050, with urban areas making up 64.0% of that population. A growing awareness of the environmental effects of non-eco-friendly packaging, such as plastic packaging and other plastic product components, has significantly affected this region's solid waste management market.
• North America is anticipated to experience significant growth during the predicted period. Government regulations requiring waste management in several industries and improved infrastructure will drive the growth of the North American market. The Resource Conservation and Recovery Act and the Waste Shipment Regulation are two government regulations that are anticipated to have a significant effect on the market. These regulations were created to enhance the service.

Global Solid Waste Management Market - Country Analysis:

• Germany

Germany's solid waste management market size was valued at USD 21 billion in 2022 and is expected to reach USD 28.3 billion by 2030, at a CAGR of 3.8% from 2023 to 2030.

The German solid waste management market will be dominated by an increasing focus on sustainable waste management practices. Over the Projection period, growing concerns about reducing the existing pollution index will improve the business outlook. Large-scale urban migration has also resulted in an exponential increase in solid waste generation, resulting in a significant increase in demand for the industry.

• China

China’s solid waste management market size was valued at USD 32.8 billion in 2022 and is expected to reach USD 44.8 billion by 2030, at a CAGR of 4% from 2023 to 2030.

A major factor driving the solid waste management market is the increasing demand for smart waste management resulting from the development of smart cities for the improvement of urban lifestyles. A positive impact on the market is also the adoption of smart city initiatives across regions.

• India

India's solid waste management market size was valued at USD 25.3 billion in 2022 and is expected to reach USD 34.35 billion by 2030, at a CAGR of 3.9% from 2023 to 2030.

India is witnessing a healthy growth rate in the solid waste management market owing to its high population density and increased industrial activity, which generates a large number of wastes, hazardous and non-hazardous. In the coming years, the Swatch Bharat Initiative is expected to provide immense growth opportunities to upcoming startups committed to providing innovative waste management solutions.

Key Industry Players Analysis:  

To increase their market position in the global solid waste management market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Harden Machinery Ltd.
• Veolia Group
• DS Smith Plc
• Geocycle
• Hitachi Zosen
• Republic Services
• Biffa
• SUEZ
• Covanta Holding
• Clean Harbors
• FCC Environment (UK) Limited

Latest Development:

• In May 2021, In an agreement, SUEZ and Eramet, which are significant players in metal extraction and valuation, will intensify their collaboration in recycling electric vehicle batteries. As a result of this alliance, the European market will have access to an environmentally friendly, cost-effective, and high-performance battery recycling solution.
• In October 2020, The Waste Management company acquired Advanced Disposal Services, a solid waste management company. Due to this acquisition, Waste Management now offers unique, sustainable waste management and recycling services to approximately 3 million new commercial, residential, and industrial clients-most of whom are located in 16 states across the eastern half of the United States.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	3.7%
Market Size	315.6 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Waste Type, By Service, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Harden Machinery Ltd., Veolia Group, DS Smith Plc, Geocycle, Hitachi Zosen, Republic Services, Biffa, SUEZ, Covanta Holding, Clean Harbors, and FCC Environment (UK) Limited.
By Waste Type	Bio-Medical Hazardous Plastic E-Waste
By Service	Landfill Open Dumping Recycling Incineration
By End-User	Commercial Residential Industrial
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Solid Waste Management Market by Waste Type:

• Bio-Medical
• Hazardous
• Plastic
• E-Waste

Global Solid Waste Management Market by Service:

• Landfill
• Open Dumping
• Recycling
• Incineration

Global Solid Waste Management Market by End-User

• Commercial
• Residential
• Industrial

Global Solid Waste Management Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia