Global Municipal Solid Waste Management Market Trends 2024, Forecast To 2033
8 Oct, 2024
The municipal solid waste management market size has steadily grown in recent years, projected to rise from $113.35 billion in 2023 to $118.27 billion in 2024, achieving a compound annual growth rate (CAGR) of 4.3%. The historic growth can be attributed to financial incentives and subsidies for recycling and waste-to-energy projects, an increasing emphasis on corporate social responsibility and sustainability, public-private partnerships (PPPs), availability of government funding and grants for waste management projects, and growing consumer and corporate demand for sustainable products. In the upcoming years, the municipal solid waste management market is expected to continue this steady growth, reaching $140.73 billion by 2028 with a CAGR of 4.4%. Factors fueling this growth include increased waste generation driven by consumerism, rapid growth in electronic waste (e-waste), heightened focus on zero waste initiatives, a rise in construction and demolition waste, and an increased focus on environmental regulations. Key trends expected during this period involve innovations such as waste-to-energy technologies, advancements in recycling technology, the development of biodegradable materials, and the integration of smart technologies.
Global Municipal Solid Waste Management Market Key Driver
The growing industrialization in developing economies is projected to stimulate the municipal solid waste management market in the future. Industrialization involves the large-scale development of industries, marking the shift from agrarian economies to manufacturing-oriented ones, often driven by technological advancements and substantial changes in economic structures. The rise in industrialization is motivated by goals of economic growth, job creation, and improved infrastructure, as well as the need to diversify economies and enhance living standards through investments and technological innovations. Municipal solid waste management plays a crucial role in supporting industrialization by providing efficient waste disposal and recycling systems, thereby helping to maintain public health and environmental sustainability as urbanization increases. For instance, according to Eurostat, a Luxembourg-based statistical agency, seasonally adjusted industrial production in the European area rose by 0.2% in May 2023, with a 0.1% increase observed in the European Union compared to April 2023. Therefore, the surge in industrialization within developing economies is driving the municipal solid waste management market's growth through 2023, continuing into 2024, and is expected to further expand by 2028.
Get A Free Sample Of The Municipal Solid Waste Management Market ReportGlobal Municipal Solid Waste Management Market Segments
The municipal solid waste management market covered in this report is segmented –
1) By Product Or Type: Recycling, Composting, Incineration, Landfill
2) By Waste Type: Paper And Paperboard, Metal, Plastic, Food, Textile, Other Waste Types
3) By Collection: Curbside Collection, Drop-Off Centers, Transfer Stations, Other Collections
4) By Application: Residential, Commercial, Institutional, Industrial
By Geography:The regions covered in the municipal solid waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the municipal solid waste management market in 2023.
Major Municipal Solid Waste Management Industry Players
Clean Harbors Inc., GFL Environmental Inc., Cleanaway Waste Management Limited, Casella Waste Systems Inc., Veolia Environnement SA, Waste Management Inc., SUEZ SA, Remondis AG & Co. Kg., Republic Services Inc, Waste Connections Inc, Sims Limited, China Everbright Environment Group Limited, Hitachi Zosen Corporation, Stericycle Inc, Renewi plc, Biffa Plc, Recology Inc, WIN Waste Innovations Holdings Inc, Keppel Seghers, Bingo Industries Limited, Anaergia Inc., E.L.Harvey & Sons, C&S Waste Solutions, California Waste Solutions Inc., OMNI Conversion Technologies Inc.
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Municipal Solid Waste Management Market Overview
Municipal solid waste management refers to the process of collecting, treating, and disposing of solid waste generated by households, businesses, and institutions within a municipality. Effective municipal solid waste management reduces pollution, conserves resources, and minimizes health risks. It also involves policies and regulations to ensure proper waste handling and the public's participation in waste reduction and recycling efforts.
Municipal Solid Waste Management Global Market Report 2023 provides data on the global municipal solid waste management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The municipal solid waste management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.