New York, United States , Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Global Hazardous Waste Management Market Size is Expected to Grow from USD 17.25 Billion in 2023 to USD 29.75 Billion by 2033, at a CAGR of 5.60% during the forecast period 2023-2033.
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Hazardous waste management is the process of handling, treating, and disposing of waste items that are dangerous or potentially damaging to human health and the environment. Hazardous waste management is essential for both human health and the environment and includes waste classification, safe storage, handling, transportation rules, correct disposal, recycling, recovery, emergency preparedness, regulatory compliance, and continuing audits. The hazardous waste management market is driven by several factors, including severe regulatory requirements, expanding environmental and public health concerns, and the increase of industrial activities that generate hazardous waste. Technological developments in garbage treatment and disposal, combined with increased corporate social responsibility and safety laws, fuel the demand for sustainable waste management solutions. However, the hazardous waste management industry is hampered by various constraints, including high costs associated with advanced treatment technologies and regulatory compliance.
Browse key industry insights spread across 230 pages with 104 market data tables and figures & charts from the report on the "Global Hazardous Waste Management Market Size, Share, and COVID-19 Impact Analysis, By Waste Type (Hazardous Waste, E-Waste, Municipal Waste, Plastic Waste, Industrial Waste, Others), By Service Type (Collection, Open Dumping, Incineration/Combustion, Landfill), By End-User (Residential, Commercial, Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The industrial waste segment is predicted to hold the largest market share through the forecast period.
Based on the waste type, the hazardous waste management market is classified into hazardous waste, e-waste, municipal waste, plastic waste, industrial waste, and others. Among these, the industrial waste segment is predicted to hold the largest market share through the forecast period. Rapid urbanization and technological progress are the primary drivers of the increase in industrial waste, which necessitates treatment since it pollutes lakes and groundwater and can harm wildlife and plants.
The collection segment is anticipated to hold the highest market share during the projected timeframe.
Based on the service type, the hazardous waste management market is divided into collection, open dumping, incineration/combustion, and landfill. Among these, the collection segment is anticipated to hold the highest market share during the projected timeframe. Waste collection includes trash separation, waste loading and unloading, site selection, location search, waste storage at a landfill at a minimum distance, and waste management. Companies involved in waste collection should consider frequent cleaning and upkeep of these storage facilities.
The industrial segment is anticipated to hold the greatest share of the hazardous waste management market during the projected timeframe.
Based on the end-user, the hazardous waste management market is categorized into residential, commercial, and industrial. Among these, the industrial segment is anticipated to hold the greatest share of the hazardous waste management market during the projected timeframe. The industrial segment's dominance is attributable to the high volume and complexity of hazardous waste generated by industrial activities such as manufacturing, chemical processing, and medicines.
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North America is estimated to hold the largest share of the hazardous waste management market over the forecast period.
North America is estimated to hold the largest share of the hazardous waste management market over the forecast period. Several reasons contribute to North America's dominance, including strict environmental rules and a strong waste management infrastructure. The United States and Canada have established comprehensive frameworks and standards for hazardous waste management, assuring effective processing, treatment, and disposal.
Asia Pacific is predicted to have the highest CAGR growth in the hazardous waste management market over the forecast period. Hazardous waste generation in Asia Pacific is expected to increase as more people relocate from rural to urban locations. Rural migration to cities and urbanization resulted in a flourishing sector throughout the Asia Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key vendors in Global Hazardous Waste Management Market Waste Connections, Biomedical Waste Solutions, Hitachi Zosen, Valicor, Waste Management, Suez, Veolia, Biffa, Clean Harbors, Daiseki, Republic Services, Fcc Environment, Covanta Holding, Remondis Se & Co. Kg, Urbaser, Stericycle, and Others Key vendors.
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Recent Developments
- In February 2022, VEOLIA announced plans to implement one of Europe's first synthetic eFuel production units at LIPOR's Energy Recovery Plant near Porto. The cutting-edge technology will alter the waste-to-energy industry while lowering carbon emissions in the aviation sector.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the hazardous waste management market based on the below-mentioned segments:
Global Hazardous Waste Management Market, By Waste Type
- Hazardous Waste
- E-Waste
- Municipal Waste
- Plastic Waste
- Industrial Waste
- Others
Global Hazardous Waste Management Market, By Service Type
- Collection
- Open Dumping
- Incineration/Combustion
- Landfill
Global Hazardous Waste Management Market, By End-User
- Residential
- Commercial
- Industrial
Global Hazardous Waste Management Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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