Latest News- Waste Management Market: Residential is expected to lead the End-user segment during 2024-2028

The Waste Management Market is being driven by Laws in Europe for recycling waste

The Waste Management Market is expected to grow at a CAGR of 8.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 223.8 billion. In the realm of industrial waste management, companies engaged in providing cleaning services encounter the necessity of utilizing various hazardous materials such as chemicals for addressing spills and disinfectants. However, the usage of these substances can pose health risks and contribute to environmental degradation. Consequently, the adoption of green or renewable cleaning practices has gained prominence in the industry. These eco-friendly methods, including activated water cleaning, high-flow fluid extraction, and steam vapor technology, aim to enhance performance, reduce costs, and minimize environmental harm. Activated water cleaning employs treated water to effectively clean surfaces, while high-flow fluid extraction utilizes high-pressure water to extract contaminants. Steam vapor technology, on the other hand, leverages the power of steam to sanitize and deodorize areas without the need for harsh chemicals. By implementing these green cleaning processes, waste management companies can ensure a more sustainable and responsible approach to industrial cleaning. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Commercial
  • Industrial
• Service Type
  • Landfill
  • Open dumping
  • Incineration
  • Recycling
  • Composting and anaerobic digestion
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America

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

• Laws in Europe for recycling waste
• Increase in industrial activities globally
• Growing adoption of construction and demolition (C and D) materials in urban areas with rising number of construction projects

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

• Huge capital investment to discard biomedical waste
• Occupational risks associated with hazardous waste management
• Absence of necessary framework for collection and segregation of waste

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Market Scope in Waste Management Market Research Report

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Research Analysis Overview

The Waste Management Market is focused on addressing environmental sustainability and public health concerns through the management of various types of waste, including municipal solid waste, liquid waste, and gas waste. International organizations promote Extended Producer Responsibility and the circular economy to reduce waste production and CO2 emissions. Companies like Republic Services implement resource and strategy plans for handling waste, such as recycling municipal, industrial, hazardous, and other types of waste, transforming them into recycled materials. Rapid industrialization and urban population growth necessitate effective waste management solutions.

Market Research Overview

The global environmental and facilities services market encompasses businesses offering solutions for waste management, facilities management, and pollution control. According to Technavio, market size is determined by the consolidated revenue generated by these companies. Key growth drivers include the increasing emphasis on environmental sustainability and public health, as well as the support of international organizations for extended producer responsibility, circular economy principles, and the implementation of smart waste bins, waste level sensors, AI recycling robots, and renewable energy solutions. These initiatives foster a more eco-friendly business landscape and promote long-term value creation.. 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
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Website: www.technavio.com/