The global waste management market is anticipated to witness surging growth owing to increasing waste management concerns worldwide. Increasing challenges related to wastes, which are not discarded may further drive market growth over the forecast period.
The waste management services industry is largest in developed nations that consume more resources and generate more waste. The US waste management industry includes about 25,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $95 billion.
The US waste management market is one of the largest segment of the US environmental services industry. The major growth drivers of the market include increase in municipal solid waste per capita, rise in landfill tipping fees, augmented construction activities and economic growth.
The US waste management market is dominated with publically owned companies. The global waste management market is segmented on the basis of type, application, and geography. The waste management market is segmented based on waste type, service, and region. As expected the market is largest where the population is largest, such as the East Coast, the West Coast, Texas and Illinois. NC dumpster rentals for junk removal are among the vibrant areas where demand for waste disposal solutions keeps on rising.
Based on waste type, the market is bifurcated into municipal waste, industrial waste, and hazardous waste. In 2017, the municipal waste management segment dominated the market, in terms of revenue, and is expected to maintain this trend in the coming years.
The solid waste management market size was valued at over USD 240 billion in 2016 and the annual capacity is set to exceed 4.5 billion tons by 2024 as inclination towards Municipal Solid Waste management rises. The U.S. liquid waste management market size was estimated at USD 19.45 Billion in 2016. The growing utilization of water per household and increasing industrial activities with growing population in the country is expected to drive growth over the next eight years.
Food waste management market factors expected to drive growth is the rising need for waste management from end-use applications such as renewable energy, animal feed, and other industries. The food waste management market is projected to register its fastest growth in terms of revenue in the next five years. The U.S. market is composed of all both small and big participants that are either looking to invest in the medical waste management market or those who are already going strong since sometime. However, among big giants and small companies, the latter one was evaluated to hold around 53.1% of the revenue of the market.
The revenue of the solid waste industry in the United States from 2000 to 2016 (in billion U.S. dollars) including U.S. waste management and remediation services gross output from 2007 to 2018 was around 100 billion. The US environmental services industry is likely to grow positively in the coming years, along with the growth of the waste management market. The US waste management market is expected to grow with strong economic growth, rise in landfill tipping fees, thereby creating large revenues and maturing recycling and waste-to-energy markets.
The U.S. Municipal Solid Waste Management Market crossed USD 17 billion in 2017 and is predicted to grow over 4% by 2024 as ongoing adoption of sustainable waste management mechanism will boost the industry growth. With the increased public’s awareness about global warming and pollution, it is likely consumers and businesses will lead the growth of the waste management industry.