The global waste management market value was more than USD 1,512.0 billion in 2020. The global waste management market is forecast to grow at a compound annual growth rate (CAGR) of more than 2.2% during the forecast period from 2021-2027.

Garbage, sewage, and other waste products are collected, transported, and disposed of in waste management. Waste treatment and waste disposal involve the safe and efficient handling of solid waste. The various types of waste that it deals with include solid, liquid, and gaseous waste. These wastes include municipal, industrial, and hazardous wastes. Waste generated in towns and cities is usually residential waste or non-hazardous waste. The industry produces waste as it produces and manufactures goods. Hazardous waste refers to waste generated in the pharmaceutical, medical, chemical, and paint industries.

Also, the collection and disposal of waste are major activities. Waste collection services include waste collection, handling, and storage. In contrast, disposable services include waste segregation, recycling, composting, and anaerobic digestion.

Factors Affecting the Market

Growth Factors:

Waste management companies benefit from government efforts to reduce illegal dumping, driving the growth of the global market.
Growth in the waste management market is forecast to increase by using WTE incineration and recycling techniques.
The Resource Conservation and Recovery Act (RCRA) is enforced by the Environmental Protection Agency (EPA) in order to help reduce the open dumping of hazardous and non-hazardous waste.
An increase in population and globalization has resulted in an increase in the amount of garbage generated worldwide.
In emerging economies such as India, China, and Taiwan, industrialization has led to the development of chemical, oil & gas, automobile, and medical industries, which generate an enormous amount of waste and cause pollution.
A rise in environmental awareness regarding renewable waste management systems among people and rising CO2 emissions will drive growth in the waste management systems market.
In turn, these factors are likely to significantly contribute to the growth of the global waste management market.
Market Opportunities:

The rise in public and government awareness of waste-to-energy solutions combined with a growing demand for the technology will provide lucrative growth opportunities for market players during the forecast period. These opportunities have led to waste management companies expanding their businesses, acquiring other companies, signing agreements, and forming partnerships to provide better services.

Hamper Factors:

Purchasing and operating waste management solutions are expensive, which may hinder the market's growth. Furthermore, waste management employs a large number of workers, consuming a lot of money as wages. Transportation of waste can also take up a large portion of allocated funds, including collection and further transport to landfills and recycling facilities. Cost recovery for waste services varies significantly by income level. Due to the investments related to its processes, the waste management market becomes somewhat rigid, hampering the market growth.

Impact Analysis of COVID-19

During the lockdown owing to Coronavirus, industrial and commercial waste production drastically declined. Businesses and offices ceased operations as a result. On the other hand, the amount of municipal waste increased in residential areas. Due to a decline in new goods manufacturing, rubber and plastic were also less in demand due to the drop in manufacturing operations. The reopening of production facilities and new vaccines for Coronavirus will likely lead to the restart of waste management companies and waste recycling industries at their full-scale capacities.

Regional Analysis

Globally, the waste management market in 2020 held dominance by the Asia Pacific. Waste management in the region depends on several factors, including population growth, high disposable incomes, and the growing popularity of packaged food products. In addition, marine plastic pollution is a leading factor in the Asia Pacific. There are a variety of materials involved, including plastic bottles, plastic bags, single-use plastic items, and plastic packaging. China, Indonesia, and Thailand are key countries responsible for this type of pollution.

Key Players

The several leading prominent companies in the global waste management market are:

Covanta Holding Corporation
Clean Harbors, Inc.
Biffa Plc
Republic Services, Inc.
Waste Management Inc.
Daiseki Co., Ltd.
Hitachi Zosen Corporation
Remondis Se & Co. Kg
Suez
Veolia Environnement
Other Prominent Players
Scope of the Report

The global waste management market segmentation focuses on Type, Service, and Region.

Segmentation based on Type

Municipal Waste
Industrial Waste
Hazardous Waste
Segmentation based on Service

Collection Service
Collection & transportation
Storage & handling
Sorting
Disposable Service
Landfills
Recycling
Compositing & anaerobic digestion
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America