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 appropriately manage hazardous waste, misplaced shipments, and neglected to maintain necessary manifest records. These lapses led to the illegal transportation of hazardous waste without proper documentation and disposal at unsuitable facilities. Eurostat reports a non-compliance rate of 25% for illegal waste movement. Such mismanagement of hazardous waste poses detrimental effects on the environment, particularly the quality of land and water. To mitigate these risks, stringent international regulations are essential to ensure proper hazardous waste disposal and management. 

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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

The Hazardous Waste Management Market encompasses various stakeholders including waste generators from industrial facilities, healthcare institutions, manufacturing and construction industries, as well as municipal solid waste generators. Hazardous waste generators require management through specialized facilities such as treatment plants, recycling centers, landfills, transfer stations, and consulting services from waste management experts, environmental compliance specialists, and regulators. Key aspects of hazardous waste management involve regulations, assessments, and audits, including environmental impact assessments, life cycle analysis, environmental risk assessment, waste audits, waste sampling, waste analysis, waste data management, waste tracking systems, and reporting. Environmental permitting, compliance, liability, insurance, remediation, site cleanup, pollution control, research, technology, and innovation also play significant roles. Green initiatives like zero waste and circular economy models, waste management standards, and certification further contribute to the market. Waste management innovation and technology advancements continue to shape the industry, ensuring effective and sustainable management of hazardous waste.

Market Research Overview

The global environmental and facilities services market encompasses businesses offering solutions for environmental and facilities maintenance, encompassing waste management, facilities management, and pollution control services. According to Technavio's market analysis, the market's size is determined by the consolidated revenue generated by these companies. Key growth drivers include the increasing prioritization of sustainability and environmental stewardship, which necessitates the demand for effective waste disposal, treatment, and environmental compliance solutions.. 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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Website: www.technavio.com/