Waste Management Market to Garner $484.9 Mn by 2025 at 6.0% CAGR: Allied Market Research
PORTLAND, Oregon, January 8, 2019 /PRNewswire/ --
Surge in urban population, rise in environmental awareness, and high growth potential in the developing countries are expected to propel the growth of the global waste management market
Allied Market Research recently published a report, titled, "Waste Management Market: Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers detailed analyses of the drivers & restraints, top investment pockets, key growth strategies, market size & estimations, and competitive landscape. According to the report, the global waste management market accounted for $303.6 million in 2017 and is expected to reach $484.9 million by 2025, registering the CAGR of 6.0% during the period 2018-2025.
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Rapid urbanization, surge in waste generation, and rise in environmental awareness drive the growth of the global waste management market. Moreover, stringent regulation regarding illegal dumping of waste has supplemented the market growth. However, lack of awareness in developing countries hinders the market growth. On the contrary, high growth potential in emerging economies is expected to create remunerative opportunities for the market players in the coming years.
Municipal waste segment to retain dominance through 2025
The municipal waste segment held the largest share in 2017, contributing more than 54% of the total market revenue, owing to growth in urban population and increase in illegal dumping. However, the industrial waste segment is expected to manifest the fastest CAGR of 6.2% during the forecast period, owing to rapid industrialization and shift of industrial production from developed to developing regions.
Disposal segment to create lucrative opportunities through 2025
The disposable services segment reaped the largest share in 2017, contributing about half of the market share, owing to rise in environmental awareness and strict government regulation for illegal dumping. Moreover, the segment is estimated to register the fastest CAGR of 6.9% during the study period. The other segment of waste collection services is expected to show gradual growth through 2025.
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Asia-Pacific to manifest the fastest growth by 2025
Asia-Pacific region is expected to portray the fastest CAGR of 6.6% during the forecast period, owing to improvement in infrastructure, increase in waste management reforms, and surge in urban population in emerging markets. However, Europe governs the market in terms of revenue, contributing more than one-third of the market share, owing to rapid growth in population, increase in usage of secondary raw materials, and rise in awareness about sustainable waste treatment solution. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
Major market players
The major players analyzed in the report include Advanced Disposal Services, Clean Harbors, Inc., Daiseki Co. Ltd., Remondis AG & Co. Kg, Veolia Environment S.A., Biffa Group, Covanta Holding Corporation, Hitachi Zosen Corporation, Suez Environment S.A., and Waste Management Inc.
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