Municipal Solid Waste Management Market is poised to witness significant growth between 2023 and 2032, primarily owing to the rising adoption of innovative solutions for solid waste disposal. Besides, the growing need for sustainable waste disposal technologies across the globe will also drive the market growth during the foreseeable time.
Additionally, several global cities are seeking to modernize their waste management systems to enhance their overall efficiency. For instance, it was reported that the Vinca landfill in Belgrade, Serbia, is getting a makeover. As per sources, the mountain trash will become green space within a short time span, and the poisonous gas that has been emanating from it will also be collected to produce electricity. Besides, the runoff water from the dump will be collected and treated accordingly.
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Overall, the municipal solid waste management market has been segmented in terms of source, treatment, material, and region.
Based on source, the residential segment will experience significant growth through 2032, which will be driven by factors such as increasing population and development of residential buildings, often leading to mismanaged solid waste. According to a report, solid waste management is a serious concern for local administration due to increasing population in urban regions.
On the basis of treatment, the open dumping segment will witness substantial growth through 2023-32. Since open dumping is widely preferred in the underdeveloped and the developing countries, this segment is bound to witness an upsurge within the next ten years.
In terms of material, the plastics segment will grow at more than 10% CAGR during 2023-2032. The growing implementation of beneficial norms and policies toward the protection of the environment and human health would push the market growth.
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For instance, in June 2022, the Mangalore City Corporation announced implementing Plastic Waste Management Rules 2021 that expanded on the definition of single-use plastics and now includes plastic sticks that are used in ice creams, cups, earbuds, and plastic plates. The report also added that under the Environmental Compensation Board and the Solid Waste Management and Sanitation Act, penalties will be issued at a rate of USD 61.64 per tonne.
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In the regional context, the North America municipal solid waste management market held more than 15% market share in 2022. The regional market growth can be attributed to the advancing technologies and favorable regulatory policies around waste treatment and dumping. For instance, in September 2022, the Environmental Protection Agency of the USA published a report discussing the economic gains of cleaning up facilities. It reported that based on the analysis of 79 clean-ups, the economic benefits added up to USD 39 billion per year in terms of sales.
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