Solid Waste Management Market Outlook
According to a new report by Expert Market Research titled, “Solid Waste Management Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global solid waste management market is affected by the overall global waste management market (including hazardous as well as non-hazardous waste), which reached a value of almost USD 449.26 billion in 2023. Aided by the escalating global population, rapid urbanization, and an intensifying focus on sustainable practices, the global waste management market is projected to further grow at a CAGR of 7% between 2024 and 2032.
Solid waste management comprises the collection, transportation, and disposal of garbage, sewage, and other waste products, encompassing both solid and semi-solid wastes from residential, industrial, and commercial sectors. This management framework has become increasingly indispensable as a sustainable approach to curb the environmental impact of waste, particularly in the context of shrinking landfill spaces and escalating ecological concerns.
As per the solid waste management market analysis, the booming urban population and increased consumerism have led to an unprecedented rise in solid waste generation. This situation underlines the urgent necessity for robust waste management solutions, which can include everything from recycling and composting to waste-to-energy technologies. In addition to ecological benefits, effective waste management contributes to public health, making it a priority in both developed and developing nations.
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The diversifying applications of solid waste management also contribute to solid waste management market growth. While traditional methods primarily revolved around landfilling and incineration, newer, more sustainable methods such as recycling, composting, and waste-to-energy conversion have gained prominence. These methods not only mitigate environmental damage but also offer economic benefits through resource recovery.
Technological advancements have been pivotal in transforming the landscape of solid waste management. One of the crucial solid waste management market trends is innovations like smart bins, which notify when they are full, or automated sorting systems for recycling plants that have increased operational efficiencies. Additionally, the adoption of data analytics to monitor waste collection and track real-time metrics can optimise routes for collection trucks, further boosting efficiency and reducing carbon footprints.
Another pivotal factor that propels the solid waste management market demand is the evolving paradigm of waste as a resource. This perspective has been enabled by the circular economy model, which aims to reduce waste by reusing materials at the end of their service life. The model is increasingly adopted by organisations aiming for sustainable growth, thereby indirectly driving the demand for efficient waste management solutions.
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Solid Waste Management Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
- Pharmaceutical
- Personal Products
- Brewery and Distillery
- Food and Soft Drinks
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global solid waste management market. Some of the major players explored in the report by Expert Market Research are as follows:
- Veolia Group
- SUEZ Group
- URBASER S.A.
- FCC Environment (UK) Limited
- Harden Machinery Ltd.
- Geocycle
- REMONDIS SE & Co. KG
- DS Smith Plc
- Others
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