Waste Management Market Major Competitor and Strategies, Regional Outlook, 2021 to 2031

COVID-19 Impact on Waste Management Market

The global impact of the COVID-19 pandemic was completely unpredicted and it has put the global economy in major distress. Waste collection and disposal has been adversely affected by COVID-19 related restrictions. Furthermore, there have been delays in waste management projects due to lack of manpower as well as financial funding in a few countries.
Easing of lockdowns and governmental initiatives to revive the economy are likely to lead to normalcy in industrial and other activities in the near future. This is expected to boost the demand for waste management services across the world.

Rise in pollution has resulted in grave issues such as global warming and extreme weather events. Furthermore, industrialization and urbanization have led to a rise in waste generation across the globe. Waste management can lower pollution by managing or recycling the waste. Hence, rise in pollution is one of the major drivers of the waste management market.
Governments and regulatory authorities are implementing stringent regulations regarding waste treatment. Governments of several countries are promoting the adoption of waste treatment technologies. Various governments and regulatory authorities have formulated and implemented regulations to promote waste management and reuse treated waste materials. Thus, governmental implementation of stringent regulations is estimated to drive the waste management market during the forecast period.

The global waste management market can be segmented based on waste type and service
In terms of waste type, the waste management market can be divided into municipal waste, industrial waste, hazardous waste, e-waste, and others. The municipal waste segment is expected to expand at a high CAGR during the forecast period, as the waste generated and managed by the municipal corporation is high in the world.
Based on service, the waste management market can be classified into collection and disposal. The disposal segment can be further segregated into landfill, incineration, and recycling. Disposal is expected to be a rapidly growing segment of the global waste management market during the forecast period. Governments of various countries across the globe have been enforcing stringent laws to lower pollution since the last few years.

Based on region, the global waste management market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
Asia Pacific dominated the global waste management market in 2020. This trend is projected to continue during the forecast period, due to rapid industrialization and urbanization in countries such as China, India, Singapore, Indonesia, and Japan. Cities in all these countries are expanding; as a result, the generation of waste is high in these cities. This is estimate to boost the waste management market in Asia Pacific during the forecast period.
Europe and North America are also key regions of the global waste management market. Governments of countries in these regions are enforcing stringent regulations in order to lower pollution. Thus, demand for waste management is expected to be high in these regions.
The waste management market in Middle East & Africa and Latin America is estimated to expand at a steady pace during the forecast period. Increase in investment in waste collection and treatment activities by developing counties such as Brazil and Mexico is likely to drive the waste management market in these countries during the forecast period.

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