Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Industrial Waste Management Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, Feb. 12, 2021 (GLOBE NEWSWIRE) -- The Global Industrial Waste Management Market is expected to grow at a CAGR of around 8.1% from 2020 to 2027 and reach the market value of over US$ 2,149.6 Bn by 2027.
The increasing industrial waste across the globe particularly in developing and developed economies is primarily supporting the market growth. The rapid growth of industry verticals including aerospace and defence, automobile, oil & gas, food & beverage, electronics, biotechnology, and pharmaceutical is further supporting the increased generation of waste and ultimately creating the need for proper waste management.
The industrial waste management market is segmented based on service, end-user industry, and geography. Based on service, the market is divided into the collection, recycling, incineration, landfill, compositing & anaerobic digestion, and others. By end-user industry, the market is divided into aerospace and defence, automobile, oil & gas, agriculture, pulp and paper, food & beverage, electronics, biotechnology, pharmaceutical, and others.
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By service, the collection segment has registered a major share in terms of revenue, and the segment is also estimated to maintain its dominance over the forecast period from 2020 to 2027.
The rising awareness about environment protection and increasing individual as well as government efforts for sustainable industrial development are supporting the segmental market value.
In 2019, Asia Pacific held the major share (%) of the global industrial waste management market. The region is gaining growth along with its major economies including Japan, China, and India. Rapid industrialization and urbanization are primarily supporting the growth and expansion of the industrial waste management market in the region. The increasing discretionary income is boosting the demand for industrial products across the emerging markets is further bolstering the regional market growth. Furthermore, the aforementioned factors are also anticipated to exhibit the fastest growth with major CAGR (%) over the forecast timeframe from 2020 to 2027.
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Some of the leading competitors are Biffa Plc, Clean Harbors, Daiseki Co. Ltd., Enviroserv Waste Management (Pty) Ltd., Hitachi Zosen Corporation, Remondis AG & Co. Kg, Republic Services Inc., Sembcorp Environmental Management Pte. Ltd., Stericycle Inc., Suez Environnement Sa, Veolia Environnement, Waste Management Inc., and others. Industrial Waste Management companies have announced mergers & acquisitions and partnerships & collaboration to uplift their position in the industrial waste management industry. Major industrial players are also moving into new regions with advanced technologies for environmental conservation as well as for gaining a competitive advantage.
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Some of the key observations regarding industrial waste management industry include:
- Antony Waste Handling Cell Limited, a 2001 founded company has announced its IPO with an opening date of 21st December and a closing date of 23rd December 2020. The issued size was 9,523,345 Eq Shares of Rs5 (aggregating up to Rs300.00 Cr). Additionally, the minimum lot size was 47 shares (Rs 14,805), and a maximum of 611 shares (Rs 192,465). Moreover, the key operational activities include India's Municipal Solid Waste Management (MSW) C&T project, MSW processing project, and mechanized sweeping project.
- Strategic Environmental & Energy Resources, Inc. (Seer) has completed two contracts with Aemetis, Inc. in December 2020. The contracts are signed for the design and installation of proprietary H2S removal systems as part of the multiple-site dairy methane to renewable natural gas (RNG) project. Seer’s MV proprietary H2S removal technology has tailored-made solutions for each site's specific needs that include MV's SulfAx system at one site and MV's in-house H2SPlus system at the other.
- Egypt's New Waste Management Law (WML) regulates the collection, storage, and disposal of waste from municipal, construction, agricultural, and industrial areas. The WML has established a regulatory public authority (Waste Management Regulatory Authority (the “Regulator”)) particularly to supervise and monitor waste management in the country. The strategic move is Egypt’s commitment to a greener economy and sustainable growth.
- Waste Management Inc. (WM) is honored with the Firebrand Award of 2020 for its advanced and connected landfill technology and automation platform. WM has designed an internal solution then contracted with SCS Engineers’ RMC Practice, and Vertech Industrial Solutions to deploy WM’s new innovative ‘Connected Landfills’ pilot. The company operates the largest network of landfills in the industry and manages the disposal of around 100 million tons of waste every year at more than 250 sites across the US and Canada. Additionally, WM is planning to expand its new connected landfills system across the other sites in North America.
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