Global $1296.04 Billion Solid Waste Management Market Analysis and Forecasts 2017-2022

| Source: Research and Markets

Dublin, March 10, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Solid Waste Management Market - Analysis and Forecast (2016-2022) (Focus on Recycling, Waste to Energy Incineration, Landfill, and Composting and Anaerobic Digestion, among other services in Municipal and Industrial Waste type)" report to their offering.

Global Solid Waste Management market will increase to $1296.04 billion in 2022.

Increased globalization and a surge in population and Gross Domestic Product (GDP), among others have led to an increase in the overall waste volume globally. According to World Bank in 2012, urban population produced about 1.3 billion tonnes of Municipal Solid Waste (MSW) which is expected to grow to 2.2 billion tonnes in 2025. The costs for managing solid waste is expected to increase drastically in lower middle (four times) income countries such as India and Brazil among others and even higher in low income countries (five times) such as Kenya and Ghana among others. Therefore, the need for solid waste management has increased largely at a global scale. A market study titled, Global Solid Waste Management Market - Analysis & Forecast (2015-2022) has acknowledged the implementation of solid waste management services in the sustainability industry.

Clean energy policies, increased need to restrict the greenhouse gas emissions (GHGs) and involvement of new technologies has played a crucial role in bridging the gap between private sector and public sector and other stakeholders of the industry. Factors such as surge in waste volumes, changing waste types and to reduce operational costs has driven the use of new advanced technologies along the value chain of solid waste management.

Uncertainty in policies and Not in my backyard (NIMBY) phenomenon is a constant challenge for the effective implementation of solid waste management services. Financing issues due to uncertainty in policies and solid waste management being a capital intensive practice, investors are still reluctant to invest their money to implement projects. As a result to this, the whole burden is bored by government, especially in developing and non-developed countries. But it is estimated that these issues are temporary and the benefits of new technologies such as RFID technology cannot be ignored for long. Opportunities such as use of IoT technologies, digital applications and use of big data is expected to revolutionize the solid waste management industry.

Environmental impact, increasing population and GDP around the globe and increasing number of smart and megacities are the key drivers for the growth of this market. The objective of the report is to help stakeholders take sound decisions by providing substantial answers regarding the major aspects of the industry including market drivers and opportunities, key development strategies of solid waste management players, market size of types of waste management services and market sizing by geographical analysis.

Market Dynamics

Market Drivers

  • Megacities Initiative
  • Environmental Pollution and Public Health Concern
  • GDP Coupled with Population Growth
  • Emerging Policy Framework

Market Challenges

  • Not in my Backyard' (NIMBY) - Challenge to Proper Disposal of Solid Waste
  • Financial Barriers
  • Policy Uncertainty

Market Opportunity

  • Emerging Economies - A Better Prospect for Business Expansion
  • Incorporation of New Technologies along with the Traditional Culture
  • Collaboration of Information Technology (IT) to Integrated Waste Management Value Chain

Companies Mentioned

  • Advanced Disposal Services
  • Biffa Group
  • China Everbright International Ltd.
  • Clean Harbors
  • Cleanaway Waste Management
  • Covanta Holding Corporation
  • Hitachi Zosen Corporation
  • Remondis
  • Sims Metal Management Ltd.
  • Stericycle Inc.
  • Suez Environment S.A
  • Veolia Environment S.A
  • Waste Connections

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