The Industrial Waste Management Market is expected to grow from USD 979.60 billion in 2022 to USD 1,434.98 billion in 2030 at a CAGR of 5.6% in the 2022-2030.
Industrial Waste Management Market Overview
The global industrial waste management market size was $937.06 billion in 2020. The global impact of COVID-19 has been unprecedented and devastating, and in the midst of the pandemic, the industry has seen negative demand shocks in all regions. According to our analysis, the global market declined by -10.4% in 2020.
Industrial waste is a combination of solid, liquid, and gaseous waste generated and collected from various industries such as construction, oil & gas, chemical, nuclear, agriculture, and mining. It is a combination of hazardous and non-hazardous waste. It is dumped in seas, rivers, or land without adequate treatment. Thus, it has become a large source of environmental pollution. Chemical, oil & gas, and nuclear industries constitute the major share of the hazardous industrial waste generated each year. Nature of many industrial operations can lead to some highly challenging obstacles when it comes to safe handling, collection, and disposal of waste materials. The waste may have hazardous and/or environmentally harmful properties that require stringent attention to safety, compliance, and environmental protection.
The Industrial Waste Management has recently published by Contrive Datum Insights to its huge database which helps to shape the future of the businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static as well as dynamic aspects of the global Industrial Waste Management market.
Some Of the key players study are the
Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: Waste Management, Republic Services, Clean Harbors, Waste Connections, Stericycle, US Ecology, Rumpke, Heritage Environmental Services, Perma-Fix, Casella Waste Systems, Veolia Environnement, Progressive Waste Solutions, Suez Environnement, Tradebe, SembCorp (Singapore)., and others.
- In November 2020 - Mumbai's only biomedical waste incineration plant has begun moving out of the city and is expected to complete the process by February 2022.
- In May 2018 – Sembcorp Environment, a wholly owned subsidiary of Sembcorp Industries, sold its medical waste disposal business to TEE Medical Services for US$20 million. Sembcorp's Medical Waste Division specializes in the treatment and disposal of biohazard and pharmaceutical waste.
What are the major Applications, Types, and Regions for the Industrial Waste Management Market?
- Municipal Waste
- Industrial Waste
- Hazardous Waste
- Collection Service
- Disposable Service
- Primary Metals
- Metal Mining
Industrial Waste Management Market Regional Insights:
Asia Pacific is likely to dominate the market during the forecast period. In 2020, the area was valued at $320.85 billion. The population of the Asia Pacific region is very high compared to other regions. The expansion of several industries is also increasing in the region, resulting in huge amounts of surplus sludge. In this area, China generates a lot of waste and the Chinese government is taking serious measures against pollution. Demand for industrial waste management is increasing in the region to manage the increasing amount of waste in the region.
North America is likely to witness significant growth during the forecast period. Awareness of environmental impact is widely increasing among people in the region. According to the Environmental Protection Agency, the dumping laws have changed in the region. The US government has charged $7,500 per person for illegal dumping and incineration of garbage. Increased industrialization and related activities increase waste production. Governments are taking various measures to properly manage these wastes. Hence, it drives the growth in North America during the forecast period.
The Middle East & Africa region is expected to significantly contribute to the market growth. The industrial sector is booming in the region, which generates a lot of waste, and to deal with this scrap, the government is focusing on improving the waste management market. The UAE Ministry of Climate Change and Environment has issued a decision regulating the export and transport of hazardous waste across UAE borders. This will drive growth in this region over the forecast period.
Geographically, the global Industrial Waste Management market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, Middle East, and India. The global region is dominating this market in the upcoming future.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Increasing industrialization and urbanisation: As cities and factories grow, so does the amount of waste they make. This makes it important to find good ways to deal with trash so that it doesn't hurt the environment.
Governments are putting in place strict rules to stop pollution and encourage practises that are good for the environment. Because of this, waste management has become more important in many fields.
The need to save natural resources and lower the cost of getting rid of trash has led to a rise in the number of people who want to recycle.
Improvements in waste management technologies: The growth of the industrial waste management market is being driven by the development of new and advanced technologies like waste-to-energy, landfill gas-to-energy, and bioreactor landfills.
High investment of money: Building new waste management facilities and using new technologies require a lot of money. Small and medium-sized businesses can have trouble with this.
Lack of knowledge: Many businesses and people still don't know how important it is to manage waste well or what benefits it could bring.
Lack of good places to put trash: It's getting harder and harder to find good places to put trash, which could slow the growth of the industrial waste management market.
Fragmented market: There are many small and large players in the market for industrial waste management, and they are all competing for market share.
Demand for sustainable waste management practises is growing. As people become more aware of environmental sustainability, the demand for sustainable waste management practises grows.
Circular economy comes into being: The idea of a circular economy encourages reusing waste materials to make new products. This gives the market for industrial waste management new opportunities.
Adopting smart ways to deal with trash: Smart waste management solutions that use technology to improve how waste is collected, processed, and thrown away are becoming more and more popular.
Investment in emerging markets: The industrial waste management market has a lot of room to grow in Asia-Pacific and Latin American emerging markets, which are becoming more industrialised and urbanised.
Industrial Waste Management Market report scope:
Frequently Asked Questions (FAQ) about the Industrial Waste Management market:
What is the CAGR of the global Industrial Waste Management market?
The Industrial Waste Management Market is growing at a CAGR of 5.6% During Forecast Period.
Which region would offer high growth for vendors in the Industrial Waste Management market?
Asia Pacific is likely to dominate the market during the forecast period.
Which Is the Most potential market segment?
By Types- Collection, Landfill, Transfer
By Applications - Chemicals, Primary Metals, Petroleum, Metal Mining, Electric
Which are the top industry players in the Industrial Waste Management market?
Waste Management, Republic Services, Clean Harbors, Waste Connections, Stericycle, US Ecology, Rumpke, Heritage Environmental Services, Perma-Fix, Casella Waste Systems, Veolia Environnement, Progressive Waste Solutions, Suez Environnement, Tradebe, SembCorp (Singapore).
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