Industrial Waste Management Market To Record Ascending Growth By 2030
Industrial
Waste Management Market Overview
Industrial Waste
Management Market is expected to be valued at USD 2 Trillion, with a CAGR of 10% Forecast
by 2030.
In
its research report, Market Research Future (MRFR), emphasizes that the global
industrial waste management market is expected to grow significantly over the
review period, securing a substantial market valuation and a healthy CAGR over
the review period.
Drivers
and Restraints
The
increase in environmental issues and hazardous and non-hazardous waste
resulting from rapid economic development would boost demand for waste
management services. Less understanding of the environment within society also
affects the demand for waste management. The big driver for the industry was
rapid urbanisation and industrialisation. Driven by a increasing awareness of
the adverse environmental effects of industrial waste, governments and
environmental organizations have shifted their attention toward industrial
waste management as a key field.
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CAGR |
~10% |
Base
Year |
2021 |
Forecast
Period |
2022-2030 |
Historical
Data |
2019-2020 |
Forecast
Units |
Value
USD Billion |
Report
Coverage |
Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments
Covered |
By
Type, By Service, By Regions |
Geographies
Covered |
North
America (US, Canada, and Mexico), Europe (UK, Germany, France, Rest of
Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Middle
East & Africa, South America |
The global waste management market will be strengthened by industrial growth, new recycling techniques and innovation in waste disposal technologies. Throughout the past few decades, a number of catastrophic industrial accidents have helped to understand the need to control and manage hazardous waste that has been a key catalyst for the development of the global industrial waste management industry. Business development has also been fuelled by developments in industrial waste management techniques. The lack of land for waste disposal is also an essential driver of growth in the industry.
Segmental
Analysis
By
type, the segments include biodegradable, energy, manufacturing, and chemical,
among others. These segments are poised to witness rapid growth due to a broad
range of waste management solutions available for different type of wastages.
Furthermore, the service & equipment basis of the segmentation comprise
landfill, collection, recycling, and incineration.
Regional
overview
The geographical overview of the global market has been analyzed in four major regions, comprising the Asia Pacific, Europe, North America, and the rest of the world.
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North
America and Europe are critical growth zones, and are expected to hold large
market shares over the next few years. Such regions' growing industrial sector
is fuelling demand for solutions to waste disposal. Additionally, the stringent
laws enforced for regulating the industrial waste management due to rising
environmental concerns is another factor responsible for market proliferation.
Europe is projected to drive the market share of industrial waste management in
the near future, due to a rise in favorable policy policies along with the
adoption of high-end management services technology.
Competitive
Landscape
The major market players operating in the global market as identified by MRFR are Veolia Environmental, EnviroServ Waste, SembCorp, Reclay Group, SA Waste Holding Pvt Ltd., Suez Environnement, Stericycle Inc., Himark BioGas Inc., and Clean Harbor.
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