The global waste management market size is expected to reach $484.9 billion by 2025 from $303.6 billion in 2017, growing at a CAGR of 6.0% from 2018 to 2025. Waste management is the collection, transportation, and disposable of garbage, sewage, and other waste products. It involves treatment of solid waste and disposal of products and substances in a safe and efficient manner.
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The growth of the global waste management market is driven by increase in adoption of proactive government measures to reduce illegal dumping. In addition, surge in population and increased globalization have led to rise in the overall waste volume, worldwide. The urban population produced about 1.3 billion tons of municipal solid waste (MSW) in 2012, which is expected to grow to 2.2 billion tones by 2025. Moreover, increase in industrialization in the emerging economies, such as India, China, and Taiwan, has led to the development of chemical, oil & gas, automobile, and medical industries, which generate enormous amount of waste and cause pollution. These factors are expected to significantly contribute toward the growth of the global market. However, high cost of procuring and operating waste management solutions is expected to hamper the market growth. Conversely, increase in awareness among public and government agencies about these solutions and upsurge in need to develop waste-to-energy solutions are expected to provide lucrative growth opportunities for market players during the forecast period.
The major players profiled in the global waste management report include Advanced Disposal Services, Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis AG & Co. Kg, Suez Environment S.A., Veolia Environment S.A., Waste Management Inc.
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Waste management is the process of managing waste from inception to disposal. The process comprises collection, transportation, treatment, and disposal including monitoring and by complying the existing regulations. Waste can be produced by human activities, industrial activities, household, or by biological process. Since these types of waste can pose threat to human health and surrounding nature, waste management procedure is carried out. Execution of the targeted process differs from place to place. Waste management in the developing countries is different from the same process carried out in developed countries, since these regions use cutting edge technology when it comes to waste disposal techniques. These are again different from the process in rural and urban areas.
Waste management, an emerging concept needs much higher attention than present. It is important today due to increasing harm to the human health, environment and aesthetics. The process essentially protects the environment, can earn money with the help of recycling, reduces every type of waste, and conserves the energy and saves the earth. Waste major includes recovery and recycling, composting, waste to energy, landfills, plasma gasification, waste minimization or avoidance, and combustion. Most developing and developed economies are using various techniques and undertaking initiatives for reducing waste or recycling them in the best possible manner. For example, some countries are using recycled plastic for constructing roads.
Since science is making numerous advancements in different sectors, waste management witness slow but effective innovations. There are several recent techniques for waste management that are emerging according to requirements. Some of the latest innovations in waste management include anaerobic digestion that creates compost from organic waste, automated waste collection that collects waste from linking tubes of homes and send the waste to a waste collection center (majorly used in some parts of Europe and Disney Land), smartphone applications (SiteBuddy), and enzyme-based solutions that uses waste for making biodiesel.
Abu Dhabi conducted an exhibition that presented the EcoWASTE forum. One of the recent technological product was, the Entirely Electric Street Sweeper. It requires 7-8 hours of charging and offers zero-emission waste collection solution with a capability of three cu/m. The forum proved to be a perfect platform for creating awareness for the latest technologies in this domain. The forum also displays more technologies to offer optimal solutions to various countries and promoting better environment in the near future. The forum promises to offer more useful technologies in the near future, contributing a healthier surrounding.
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