The Global waste management equipment market is expected to record a CAGR of more than 5.2% during the forecast period.
COVID-19 impacted the waste management industry from the focus of segment shift; during the lockdown, the residential segment generated more waste than industrial and commercial centres, as industries and offices were partially or completely shut. Industrial and commercial waste production fell drastically due to the slowdown in manufacturing activity. Hazardous waste production grew with higher production from the pharmaceutical and medical sectors. The COVID-19 pandemic triggered a zero-waste approach that requires members of the EU to recycle waste between 70–80% while declining GHG emissions attributed to toxic waste disposal and incineration techniques as per the European Commission.
Existing hazardous waste treatment capacity in developing countries was overwhelmed, leading to stockpiling and potentially inadequate disposal. Municipal waste had increased in volume, effectively overwhelming existing waste collection and disposal systems. A reduction in recycling activities was reported which further compounded challenges in the collection and disposal of municipal waste. The study conducted by AMSA Group in 2020 states that in Milan (Italy), the institution of strict lockdown led to a decline in the total waste production by 27.5%. However, recycling of waste increased by 1% compared to 2019 the same period, whereas street bins declined by 38.2%. The month of confinement saw a 16.65% drop in municipal waste.
According to the World Bank, by 2050, waste production will be 73% higher than in 2020. This increase will be mostly driven by middle-income countries in which waste generation will nearly double in the next three decades, though low- and many- high-income countries will contribute significantly to the growing volume. As of 2021, only 77% of global solid waste is collected and 33% of it is openly dumped. The situation in low-income countries is particularly alarming, where only 40% of the generated waste is collected and 93% is dumped or improperly managed. A survey conducted by the Institute of Scrap Recycling Industries (ISRI) in 2021 suggests that 66% of Americans would not recycle a product if it’s not easy or inconvenient to do so, and the municipal solid waste (MSW) recycling rate in the US remains as low as 35% in the country. As per National Environment Agency (NEA), Singapore, in 2021, about 6.94 million tonnes of solid waste was generated, of which 3.83 million tonnes were recycled. Waste generated by the non-domestic and domestic sectors both increased in 2021, from 4.12 million tonnes and 1.77 million tonnes respectively in 2020, to 5.12 million tonnes and 1.82 million tonnes respectively in 2021, recycled waste attributed to the non-domestic and domestic sectors likewise increased, from 2.81 million tonnes and 0.23 million tonnes respectively in 2020, to 3.58 million tonnes and 0.24 million tonnes respectively in 2021 in Singapore. Thus increasing awareness about proper recycling and disposal of waste is fueling the growth of waste management industry.
The 2022’s Global Waste Index from Sensoneo, reports Turkey is at the top of the list as the least environmentally friendly waste management country, with 47kg of waste per capita recycled and 176kg per capita of waste disposed of illegally each year. Most waste is generated in the United States. Each US citizen currently produces 811kg of waste, and around half of that ends up in the landfill. Meanwhile, just 95kg of that is incinerated.
As per the 2022’s Global Waste Index, Colombia produces the least municipal waste, at 243kg per capita while the disposal system in Chile recycles only two kilos per inhabitant. No other country recycles less, 417kg of waste per capita ends up in landfill and is disposed of in a particularly environmentally harmful way. Iceland's waste management has worsened the most since the last Global Waste Index. According to the 2022’s Global Waste Index, waste production in Iceland increased by 7% since 2019 and 68% less waste is recycled. While Switzerland is the only country that does not send any waste to landfill. The Swiss produce 706kg of waste per capita, of which 333kg are incinerated and 210kg is recycled.
Globally, about 400 million tons of plastic waste are produced yearly. In 2021, in the U.S.A, 40 million tons of plastic waste is generated of which only 5% to 6% or about two million tons were recycled. More than 50 million tons of paper were recovered for recycling in 2021, achieving a 68% recycling rate and 91.4% of corrugated cardboard was recycled. About 110 million glass bottles are thrown away every day in the U.S., of which only one-third get recycled as per the study done by the World Economic Forum.
The Food and Agriculture Organization of the United Nations in its latest report that the global volume of food wastage is estimated at 1.6 billion tonnes of "primary product equivalents." Total food wastage for the edible part of this amounts to 1.3 billion tonnes. Food wastage's carbon footprint is estimated at 3.3 billion tonnes of CO2 equivalent to GHG released into the atmosphere per year. Home composting can potentially divert up to 150 kg of food waste per household per year from local collection authorities.Developing countries suffer more food losses during agricultural production, while in middle- and high-income regions, food waste at the retail and consumer level tends to be higher. The direct economic consequences of food wastage (excluding fish and seafood) run to the tune of USD 750 billion annually.
Municipal solid waste management (MSW), which is waste generated from companies, buildings, institutions, small businesses, houses, and yards, often comprises less than 5% of the total amount of waste produced in a country in 2021. For the same time period, between 30% and 35% of the total amount of generated waste in most developed countries is attributed to building sector activities such as building construction, renovation, and demolition processes, according to the official EU statistical data.
According to United Nations, every year, an estimated 11.2 billion tonnes of solid waste is collected worldwide and the decay of the organic proportion of solid waste is contributing to about 5% of global greenhouse gas emissions. It is estimated that less than 20% of global waste is recycled each year and rich countries often export recyclables to poorer nations. One-third of recyclables in the US are shipped abroad. The UK estimates that 46% of its recycling goes to countries like Turkey, Poland, and Malaysia.
Recycling rates fell across Europe, Asia, and the US since the onset of the COVID-19 pandemic. But the pandemic also produced a surplus amount of new waste in the forms of PPE and single-use items. A study from the Proceedings of the National Academy of Sciences (PNAS) showed that the pandemic generated over 8 million tons of plastic waste around the world and over 25,000 tons of that waste entered the ocean.
The Global waste management market's landscape is consolidated and highly competitive with many players focused on innovative technologies to recycle and reuse the waste generated across various industries and households across the globe. The global players leading the market are Recycling Equipment Manufacturing Inc, CP Manufacturing Inc, Dover Corporation, Morita Holding Corporation, Tomra Systems ASA, Wastequip LLC, Blue Group, KK Balers Ltd, Shred-Tech Corporation, and McNeilus Trucks and Manufacturing, Inc. There are also several startups coming up in the industry that are continuously focusing on waste reduction following the Zero Waste - 3R (Reduce, Reuse and Recycle) philosophy. There are also many mergers and acquisitions taking place across the market.
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