Overview and Scope
Waste management and recovery services refer to waste management, from collection to recycling and monitoring. Recovery services are those services involved in the use of waste as an input material to create valuable products as new outputs.
Sizing and Forecast
The waste management and recovery services market size has grown strongly in recent years. It will grow from $177.33 billion in 2023 to $187.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to regulatory frameworks, environmental awareness, shift towards circular economy, resource scarcity concerns..
The waste management and recovery services market size is expected to see strong growth in the next few years. It will grow to $230.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to emergence of innovative business models, shift towards sustainable practices, investment in infrastructure, urbanization and population growth, rise in environmental awareness.. Major trends in the forecast period include waste-to-energy solutions, focus on recycling technologies, expansion of circular economy models, smart waste management solutions, bio-based and biodegradable materials..
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Segmentation & Regional Insights
The waste management and recovery services market covered in this report is segmented –
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
North America was the largest region in the waste management and recovery services market in 2023. The regions covered in the waste management and recovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising urbanization is expected to propel the growth of the waste management and recovery services market going forward. Urbanization refers to the large-scale population shift from rural to urban areas and ensuing physical changes to urban areas, this results in waste generation which causes health threats and urban environment deprivation. Waste management helps to reduce and eradicate waste generated through urbanization and strives for a better and clean environment. For instance, in October 2022, according to The World Bank, a US-based international financial institution, globally, the urban population would increase from 4.4 billion in 2022 to 6 billion by 2045 with an increase of approximately 1.6 times from the present urban population. Therefore, rising urbanization drives the waste management and recovery services market.
Key Industry Players
Major companies operating in the waste management and recovery services market are focusing on innovative products such, as AI-driven recycling facilities, to drive revenues in their market. Recycling facilities powered by artificial intelligence (AI) are leading the way in sorting technology, opening the door for major breakthroughs and a more sustainable future for the sector. For instance, in October 2022, Beeah Group, a UAE-based environmental management company, launched an AI-driven recycling facility. The C&I recycling facility powered by AI and robotics is expected to increase landfill waste and improve material recovery efficiency. The facility will support Beeah Recycling’s Material Recovery Facility (MRF), the biggest of its kind in the Middle East and the third largest in the world, in its waste processing endeavors. As part of its mission to digitize the waste management and recycling sector and give farmers and other food value chain stakeholders access to cutting-edge remote sensing technologies, Beeah has launched an AI-driven recycling facility, which is a noteworthy first step.
The waste management and recovery services market report table of contents includes:
1. Executive Summary
2. Waste Management And Recovery Services Market Characteristics
3. Waste Management And Recovery Services Market Trends And Strategies
4. Waste Management And Recovery Services Market – Macro Economic Scenario
5. Global Waste Management And Recovery Services Market Size and Growth
….
31. Global Waste Management And Recovery Services Market Competitive Benchmarking
32. Global Waste Management And Recovery Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Waste Management And Recovery Services Market
34. Waste Management And Recovery Services Market Future Outlook and Potential Analysis
35. Appendix
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