PORTLAND, OR, UNITED STATES, October 9, 2020 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “waste management market by type and service: opportunity analysis and industry forecast, 2020–2027,” the global waste management market size accounted for $2,080.0 billion in 2019 and is expected to reach $2,339.8 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.
In addition, the rise in industries and the commercial sector has also led to a rise in the amount of waste. Moreover, environmental problems such as soil, water and air pollution has raised, owing to unplanned waste dumping over the last few years. Environmental awareness has significantly fueled the demand for waste management in developed countries and is incorporating rapidly in developing countries.
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The report analyzes the global waste management market on the basis of type, service, and region. The types of waste covered in this report are municipal waste and industrial waste. The services taken into consideration in the report are collection and disposable services.
By type, the industrial segment dominated the global waste management market growth in 2019, in terms of revenue. Moreover, on the basis of service, the disposable segment dominated the market in 2019 and will continue to dominate during the forecast period.
The collection service segment is further divided into collection & transportation, storage & handling, and sorting. The disposable services segment is sub-classified into landfills, recycling, compositing & anaerobic digestion, and others. The report includes revenue generated from the treatment of non-hazardous solid waste of residential and non-residential users.
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Region-wise, the waste management market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, Denmark, Norway, Ireland, Portugal, Greece, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the waste management market include Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd., Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environnement, Waste Management Inc.
During a lockdown, owing to COVID-19, the waste production mainly increased from residential areas compared to industrial and commercial centers, as industries and offices were partially or completely shut down so very less industrial and commercial waste was generated. Further, decline in production of new goods led to fall in demand for recyclable material such as rubber and plastic.
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Source: EIN Presswire