Global Waste Management Market Projected to Hit $643 Billion by 2026

(Photo Credit: Michael Gaida)

The global waste management market is expected to surpass $643 billion by 2026, according to a new report from Research and Markets.

In 2017, this market accounted for $324.78 billion, the new report says. For the forecast period through 2026, it’s projected to grow at a CAGR of 7.9%.

“Increasing environmental awareness among people, rising urbanization, and high surge in population are some of the factors fueling the market growth,” the report, Waste Management – Global Market Outlook (2017-2026) noted. “However, shortage of investments in solid waste management framework and lack of awareness in developing countries are restraining market growth.”

The report looks at the market based on type of waste, including bio-medical, e-waste, hazardous waste, industrial waste, and municipal waste. Agricultural, automotive, electronics, and oil and gas end users are among those analyzed.

Research and Markets examined the waste management market up by geography as well, and found that the European region is having “a huge demand in emerging countries due to increase in ideal government initiatives along with high-end technology adoption by management services.”

Several of the key players profiled in the new report are: Advanced Disposal Services, Biffa Group, Clean Harbors, Covanta, Daiseki, Hitachi Zosen, Remondis, Suez Environment, Veolia Environment, and Waste Management.