LONDON, June 21, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Waste Management And Recovery Services Market Report 2023, the market will grow from$169.2 billion in 2022 to $180.6 billion in 2023, at a compound annual growth rate (CAGR) of more than 6%. Further, the market will reach $216.4 billion in 2027, growing at a CAGR of more than 4%. North America was the largest market in the waste management and recovery services in 2022.
The growth of the waste management and recovery services industry is driven by the increasing urbanization worldwide. Urbanization involves a significant shift in population from rural to urban areas, leading to changes in urban landscapes and an increase in waste generation. This surge in waste poses health risks and environmental degradation in urban areas. To address these issues, waste management plays a vital role in reducing and eliminating waste, striving for a cleaner and healthier environment.
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Major waste management and recovery services companies are Suez Environment S.A., Advanced Disposal Services, Veolia Environment S.A, Republic Services Inc., Covanta, Remondis AG & Co. Kg, Biffa Group, Hitachi Zosen Corporation, Green Conversions, Amec Foster Wheeler, Xcel Energy, Recology, Keppel Segher, Plasco Conversions, Suez, Veolia, Remondis Se & Co. Kg, and Urbaser.
A key trend in the waste management and recovery services market is the emphasis on innovation. Major companies operating in this sector are actively developing innovative products to strengthen their market position.
For instance, in October 2022, Casella Waste Systems, Inc. partnered with TerraCycle to launch an innovative home recycling pilot called TerraCycle Pouch. This initiative enables consumers to divert hard-to-recycle items from landfills, engage their communities, and receive rewards for their efforts. The aim is to recycle more than 20 challenging materials while providing additional services.
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The global waste management and recovery services market is segmented as -
1) By Service Type: Collection, Open Dumping, Incineration/Combustion, Landfill, Recycling
2) By Waste Type: Hazardous Waste, E-waste, Municipal Waste, Plastic Waste, Industrial Waste, Other Waste
3) By End User: Residential, Commercial, Industrial
The waste management and recovery services market report provides an in depth analysis of the market, its growth prospects, and the factors influencing its trajectory. By examining key trends, market players, and regional dynamics, this report offers valuable insights into the future of waste management and recovery services. The report serves as a vital resource for understanding the current state and future prospects of the waste management and recovery services market. Its findings and recommendations empower decision-makers to navigate the evolving landscape, capitalize on emerging opportunities, and contribute to a more sustainable and resilient global environment.
Waste Management And Recovery Services Global Market Report 2023 by The Business Research Company provides insights on the waste management and recovery services market size, waste management and recovery services market segments, waste management and recovery services market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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