With the emergence and long-term Impact of COVID-19, the Global Municipal Solid Waste Management Market is to reach USD 151.70 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Municipal Solid Waste Management Market is poised to raise up to USD 151.70 Billion by 2030. Municipal Solid Waste Management (MSWM) refers to the management and treatment of solid waste produced by homes, businesses, and institutions within a municipality or a local area. It entails the safe, environmentally sound, and socially responsible collection, transportation, processing, treatment, and disposal of solid waste. The municipal solid waste management market is expanding because of factors such as the rising shift from traditional garbage dumping techniques to sustainable and innovative waste disposal models, the presence of stringent environmental regulations and waste management policies, and the increasing focus on circular economy and zero waste initiatives. In addition, the increasing electricity consumption enhances consumer traction toward renewable energy sources such as bioenergy. According to the International Renewable Energy Agency, the U.S. had a total electricity capacity of 13,574 MW from bioenergy. This is almost 4.2% of the total renewable energy electricity capacity. Moreover, the rising focus on waste-to-energy and resource recovery, as well as increasing technological advancements and innovations present various lucrative opportunities over the forecasting years. However, the high initial investments required and the lack of awareness regarding the benefits of waste management across developing nations are challenging the market growth throughout the forecast period of 2023-2030.
Geographically, the global Municipal Solid Waste Management Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). The Asia Pacific dominated the market in 2022 owing to the increasing number of government projects and the increasing concerns about the security of supply. Whereas, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing awareness regarding waste recycling and disposal, increasing infrastructure-building activities, and rising industrialization.
The global Municipal Solid Waste Management Market is highly competitive owing to the presence of several key manufacturers such as Cleanaway Waste Management Limited, China Everbright Environment Group Limited, Sims Limited, Hitachi Zosen Corporation, Waste Connections, Biffa Plc, Covanta Holding Corporation, and others.
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Global Municipal Solid Waste Management Market Size Study & Forecast, by Source (Residential, Commercial), By Treatment (Open Dumping, Disposal), By Material (Paper & Paperboard, Metals, Plastics, Food, Glass, Others), and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Municipal Solid Waste Management Market is anticipated to grow with a healthy growth rate of more than 3.3% over the forecast period 2023-2030.
- In the Source segment, residential emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to rapid industrialization and urbanization.
- Europe is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Open Dumping
- Paper & Paperboard
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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