Pune, India, March 01, 2023 (GLOBE NEWSWIRE) -- The global industrial waste management market size was USD 961.96 billion in 2021. The market is expected to grow from USD 1,004.38 billion in 2022 to USD 1,473.95 billion by 2029 at a CAGR of 5.6% in the 2022-2029 period. This information is provided by Fortune Business Insights, in its report titled, “Industrial Waste Management Market, 2022-2029.”
Market Drivers & Restraints:
Increasing Industrialization and Urbanization to Elevate the Market
Increasing industrialization and urbanization coupled with awareness regarding waste management has boosted the demand for waste management solutions. Technological developments in recycling facilities will also facilitate the industrial waste management market growth. The rising number of industries has increased the amount of waste generated which has generated the need for proper waste management, thus propelling the market.
On the other hand, high waste disposal cost will act as a challenge for businesses operating in this domain.
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Industrial Waste Management Market Scope:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 5.6% |
| 2029 Value Projection | USD 1473.95 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 961.96 Billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 239 |
| Segments covered | Industrial Waste Management Market Size, Share & COVID-19 Impact Analysis, By Waste Type (Construction & Demolition Waste, Manufacturing Waste, Chemical Waste, Mining Waste, Oil & Gas Waste, Agriculture Waste, Nuclear Waste, Others), By Service (Landfill, Recycling, Incineration) And Regional |
| Growth Drivers | Increasing Industrialization and Urbanization to Elevate the Market |
| Closure of Industrial Units and Reduced Waste Production Hindered Market Growth |
COVID-19 Impacts:
The spread of COVID-19 resulted in the closure of industries as lockdowns were implemented worldwide. This negatively impacted the industrial segment as supply chains were disrupted. Various organizations limited their workforce and workplaces were functioning at 50% capacity. The amount of waste generated decreased, which, in turn, hampered the market expansion amid the pandemic.
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Report Coverage:
The report provides crucial insights to key growth stimulants and challenges impacting market trends over the forecast timeframe. Furthermore, the market is divided into segments and regions and analyzed systematically. Market share, growth rate, and valuation of each segment and region are documented as well. The report also entails a section which sheds light on the impact of COVID-19 on the global market and enables investors to make informed decisions.
Segmentation of Report:
Construction & Demolition Waste Segment to Lead Backed by Growing Infrastructure Activities
Based on waste type, the global market is split into construction & demolition waste, manufacturing waste, chemical waste, mining waste, oil & gas waste, agriculture waste, nuclear waste, and others. Among these, the construction & demolition waste segment held 29.7% of the market share in the recent past owing to rising infrastructural activities.
Landfill Segment to Capture the Largest Market Share
As per service, the market is divided into landfill, recycling, and incineration. Among these, the landfill segment held majority of the industrial waste management market share.
Geographically, the global market is fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights:
Asia Pacific to Dominate Owing to Growing Number of Industries
Asia Pacific is projected to dominate the market of industrial waste management over the forecast timeframe owing to high population and expansion of industries. The region was gauged at USD 338.67 billion in 2021.
North America is expected to record substantial expansion due to increasing awareness of environmental impact of industrial waste and amendment of the landfill law in the U.S. As per the law, the U.S. government charged USD 7,500 per person for illegally dumping and burning of garbage.
Competitive Landscape:
Acquisitions by Leading Players to Propel the Market
The industrial waste management industry players often make tactical decisions such as collaborations, partnerships, product launches, and investments in research & development to enlarge profit margins, increase product reach, and garner larger revenues. One such decision is acquiring other companies to improve their portfolio.
Key Industry Development:
May 2022: Republic Services, Inc. acquired US Ecology, Inc., an Idaho-based environmental and disaster response services provider. This acquisition expands the company’s footprint in environmental solutions in Canada and the U.S. Moreover, this move will also provide Republic Services with integrated capabilities for its environmental solutions business.
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A List of Key Manufacturers Operating in the Global Market:
- Veolia (France)
- SUEZ (France)
- Covanta (U.S.)
- Waste Management Inc (U.S.)
- Stericycle (U.S.)
- Daiseki Co., Ltd. (Japan)
- CLEAN HARBORS INC. (U.S.)
- REMONDIS SE & Co. KG (Germany)
- Biffa (U.K.)
- SembCorp (Singapore)
- Republic Services, Inc. (U.S.)
Industrial Waste Management Market Segmentation:
By Waste Type:
- Construction & Demolition Waste
- Manufacturing Waste
- Chemical Waste
- Mining Waste
- Oil & Gas Waste
- Agriculture Waste
- Nuclear Waste
- Others
By Service:
- Landfill
- Recycling
- Incineration
Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Industrial Waste Management Market
5. Global Industrial Waste Management Market (USD Billion) Analysis, Insights, and Forecast, 2018-2029
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Waste Type
5.2.1. Construction & Demolition Waste
5.2.2. Manufacturing Waste
5.2.3. Chemical Waste
5.2.4. Mining Waste
5.2.5. Oil & Gas Waste
5.2.6. Agriculture Waste
5.2.7. Nuclear Waste
5.2.8. Others
5.3. Market Analysis, Insights and Forecast – By Service Type
5.3.1. Landfill
5.3.2. Recycling
5.3.3. Incineration
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
Continued…
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