by Waste management involves collection, transportation, and disposal or recycling of garbage, sewage and other waste products. It includes municipal solid waste and hazardous waste. Advance waste management solutions aid in proper sorting and processing of waste which facilitates recycling and reduces landfill waste.
The global Waste Management Market is estimated to be valued at US$ 2119.18 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advance sorting and recycling reduce the amount of waste sent to landfills thereby decreasing greenhouse gas emissions. Government policies and regulations and initiatives to develop sustainable waste management infrastructure are fueling growth of waste recycling and reduction market. Waste-to-energy projects that convert non-recyclable waste into renewable energy through processes like incineration and anaerobic digestion are being increasingly adopted to reduce dependence on landfills.
SWOT Analysis
Strength: This market has strong growth opportunities due to growing environmental concerns and strict government regulations regarding proper waste disposal.
Weakness: Improper waste management can cause serious health and environmental issues. Absence of proper infrastructure in emerging nations is also a weakness.
Opportunity: Emerging trends like waste to energy conversion, recycling, and circular economy present major opportunities. Also, growing industrialization will boost waste generation.
Threats: Underdeveloped waste management regulations in some regions can pose challenges. High set up and maintenance costs of waste processing plants is also a threat.
Key Takeaways
The global waste management market is expected to witness high growth. The global Waste Management Market is estimated to be valued at US$ 2119.18 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030.
Regional analysis comprises the Asia Pacific region is dominating the market currently due to rapid industrialization and urbanization. Stringent regulations regarding waste management are boosting market opportunities here.
Key players operating in the waste management market includes Fujifilm Holdings Corporation, Olympus Corporation, Hitachi Medical Corporation Pentax Medical (Hoya Corporation), Boston Scientific Corporation, Cook Medical, Carl Zeiss Meditec AG, Medtronic plc, BARD Diagnostic Systems, Inc., ACON Laboratories, Inc.Growth strategies adopted by major players include facility expansion, mergers, acquisitions, and advanced technology integration. Partnerships with government organizations are also crucial for long term business success.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
