Global Solid Waste Management Market Report and Forecast 2023-2028

Global Solid Waste Management Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global solid waste management market is affected by the overall global waste management market (including hazardous as well as non-hazardous waste), which reached a value of almost USD 380.23 billion in 2022. Aided by the escalating global population, rapid urbanization, and an intensifying focus on sustainable practices, the global waste management market is projected to further grow at a CAGR of 4.6% between 2023 and 2028 to reach a value of USD 560.71 billion by 2028.

Solid waste management comprises the collection, transportation, and disposal of garbage, sewage, and other waste products, encompassing both solid and semi-solid wastes from residential, industrial, and commercial sectors. This management framework has become increasingly indispensable as a sustainable approach to curb the environmental impact of waste, particularly in the context of shrinking landfill spaces and escalating ecological concerns.

As per the solid waste management market analysis, the booming urban population and increased consumerism have led to an unprecedented rise in solid waste generation. This situation underlines the urgent necessity for robust waste management solutions, which can include everything from recycling and composting to waste-to-energy technologies. In addition to ecological benefits, effective waste management contributes to public health, making it a priority in both developed and developing nations.

The diversifying applications of solid waste management also contribute to solid waste management market growth. While traditional methods primarily revolved around landfilling and incineration, newer, more sustainable methods such as recycling, composting, and waste-to-energy conversion have gained prominence. These methods not only mitigate environmental damage but also offer economic benefits through resource recovery.

Technological advancements have been pivotal in transforming the landscape of solid waste management. One of the crucial solid waste management market trends is innovations like smart bins, which notify when they are full, or automated sorting systems for recycling plants that have increased operational efficiencies. Additionally, the adoption of data analytics to monitor waste collection and track real-time metrics can optimise routes for collection trucks, further boosting efficiency and reducing carbon footprints.

Another pivotal factor that propels the solid waste management market demand is the evolving paradigm of waste as a resource. This perspective has been enabled by the circular economy model, which aims to reduce waste by reusing materials at the end of their service life. The model is increasingly adopted by organisations aiming for sustainable growth, thereby indirectly driving the demand for efficient waste management solutions.

Market Segmentation

The market can be divided based on end use and region.

Market Breakup by End Use

• Pharmaceutical
• Personal Products
• Brewery and Distillery
• Food and Soft Drinks

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global solid waste management market. Some of the major players explored in the report by Expert Market Research are as follows:

• Veolia Group
• SUEZ Group
• URBASER S.A.
• FCC Environment (UK) Limited
• Harden Machinery Ltd.
• Geocycle
• REMONDIS SE & Co. KG
• DS Smith Plc
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.