Latest News- Hazardous Waste Management Market: Industrial is expected to lead the Product segment during 2025-2029

The Hazardous Waste Management Market is being driven by Increase in industrial activities

The Hazardous Waste Management Market is expected to grow at a CAGR of 7.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 14094.5 million. In January 2025, Stericycle, Inc. incurred a USD9.5 million civil penalty due to systemic non-compliance with hazardous waste management regulations between 2014 and 2020. The company failed to adequately manage hazardous waste, misplaced shipments, and neglected to maintain required manifest records. These lapses led to the transportation of hazardous waste without proper documentation and delivery to incorrect disposal facilities. Eurostat reports that 25% of waste movement is illegal, highlighting the necessity for stringent international regulations to prevent such environmental hazards. Effective oversight of hazardous waste disposal and management is crucial to mitigate adverse impacts on the environment, particularly water and land quality. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Industrial
  • Medical
  • Others
• Type
  • Solid
  • Liquid
  • Sludge
• Sector
  • Corrosive
  • Flammable
  • Infectious
  • Radioactive
  • Toxic
• Service
  • Collection
  • Disposal services
  • Storage
  • Transportation
  • Waste treatment
• Capacity
  • Large quantity hazardous waste generators
  • Medium quantity hazardous waste generators
  • Small quantity hazardous waste generators
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in industrial activities
• Stringent government regulations
• Rapid growth of medical contract research organizations

However, the market also witnesses some limitations, which are as follows:

• High cost involved in hazardous waste management
• Occupational risks associated with hazardous waste management
• Lack of awareness about proper methods of waste segregation

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Market Scope in Hazardous Waste Management Market Research Report

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Research Analysis Overview

In the context of hazardous waste management, occupational hygiene plays a crucial role. Regular trainings, mock drills, health checks, and first aid are essential for ensuring safety. Safety equipment such as personal protective equipment, safety showers, eye wash arrangements, safety ladders, fire extinguishers, fire hydrant systems, breathing apparatus, and first aid kits are necessary. Environmental hazard risks include disposal sites, fire, air emissions, ground contamination, surface water contamination, and soil contamination. Other hazards include explosion, earthquakes, noncompatible wastes, toxic wastes, heat generation, pressure, violent reaction, and the presence of fire, fire extinguishers, fire hydrant systems, breathing apparatus, and first aid kits are essential safety measures to mitigate these risks.

Market Research Overview

The environmental and facilities services market encompasses businesses offering maintenance solutions for environmental and infrastructure needs, including waste management, facilities management, and pollution control services. According to Technavio's market analysis, the market's growth is attributed to the increasing prioritization of sustainability and environmental stewardship. Companies providing these services will benefit from this trend, as they offer essential solutions for occupational safety, such as hazardous waste management, regular trainings, safety equipment, mock drills, health checks, and first aid. These offerings ensure regulatory compliance and promote a safe and healthy work environment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/