Global Municipal Solid Waste Management Market Key Insights
During the forecast period of 2023-2035, the global municipal solid waste management market is expected to reach an estimated value of ~USD 4 trillion by 2035, by expanding at a CAGR of ~3%. The market further generated a revenue of ~USD 2 billion in the year 2022. Major key factors propelling the growth of the municipal solid waste management market worldwide are the increased rate of recycling and composting along with a rising focus on the treatment of solid waste so as to safeguard global public health.
Market Definition of Municipal Solid Waste Management
Municipal solid waste (MSW) includes all those trash or garbage items that people find useless and dump out as waste. It includes items such as food, paper, plastics, textiles, leather, wood, glass, metals, sanitary waste in septic tanks, and much more collected from residential and commercial establishments. Municipal solid waste management is usually a community-level enterprise that includes waste collection, separation, reuse, storage, transport, recycling, waste processing, and waste transformation such as disposal in landfills, land application, and energy production using the caloric content of the wastes.
Global Municipal Solid Waste Management Market: Growth Drivers
The growth of the global municipal solid waste management market is majorly attributed to the growing global population which is responsible for the increasing generation of waste. According to the data the total population reached ~ 8 billion in November 2022. The mounting solid waste produced by human activities is a concern for governments across the world, which is estimated to drive market growth. According to the report by World Bank, over 2.01 billion tons of annual municipal solid waste is generated globally. Apart from increasing government concerns, the growing awareness amongst people is estimated to be another major growth factor for the market.
The global municipal solid waste management market is also estimated to grow majorly on account of the following:
·Increasing generation of solid waste
·Rising investments in recycling projects
·Growing concerns regarding improper waste management
·Rising concern about the greenhouse gas, specifically methane which is linked to climate change and is emitted by solid waste
Global Municipal Solid Waste Management Market: Restraining Factor
The lack of a stringent government regulatory framework and the need for extensive financial investment required for proper MSWM is hampering the market growth. Hence this factor is expected to be the major hindrance to the growth of the global municipal solid waste management market during the forecast period.
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Global Municipal Solid Waste Management Market Segmentation
·By Treatment (Open Dumping, Landfills, Recycling, Incineration, Composting, and Others)
The recycling segment, amongst all the other segments, is anticipated to hold a notable share in the global municipal solid waste management market over the forecast period on account of the growing need for managing solid waste along with the rising awareness regarding proper waste treatment. For instance, as per the data from the World Bank, over 33% of the total MSW was lack safe treatment safely in 2020. Moreover, it was found that ~51 percent of waste generated by high-income countries is dry waste that could be recycled, including plastic, paper, cardboard, metal, and glass.
· By Source (Residential, Hospitals, Offices & Institutions, and Others)
· By Region
The North America municipal solid waste management market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The increasing general awareness regarding waste management, along with the adoption of recycling in the region. According to the Environment Protection Agency (EPA), 41,900 tons of paper was generated as municipal solid waste, out of which, 33,890 tons of paper was recycled, in 2018.
The market research report on global municipal solid waste management also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Municipal Solid Waste Management Market
Some of the key players of the global municipal solid waste management market are SPML Infra Limited, Antony Waste Handling Cell Limited, Attero B.V., Recology Inc., SUEZ SA, Hitachi Zosen Corporation, Waste Connections, Inc., Biffa Waste Services Ltd, Waste Management, L.L.C., A2Z Group, and others.
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