North America Waste Management Market by Waste Type (Municipal Waste, Industrial Waste, and Hazardous Waste), by Waste Treatment (Landfill Disposal, Incineration, Recycling, Composting, Chemical Treatment, and Others), and by End User (Residential, Commercial, and Industrial)– Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Energy & Power | Publish Date: 09-Feb-2024 | No of Pages: 124 | No. of Tables: 85 | No. of Figures: 50 | Format: PDF | Report Code : N/A
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Market Overview:
The North America Waste Management Market size was valued at USD 275.58 billion in 2023, and is expected to reach USD 373.05 billion by 2030, with a CAGR of 5.2% from 2024 to 2030.
The waste management market deals with gathering, moving, processing, recycling, and getting rid of different types of waste from homes, businesses, and industries. It includes a variety of services and technologies aimed at handling waste efficiently and responsibly, lessening harm to the environment, encouraging recycling, and ensuring public health.
This sector involves both public and private organizations offering services related to waste, such as collecting, sorting, treating, and disposing of it. Additionally, it includes groups focused on creating new and smart solutions for sustainable waste management practices. This reflects a joint effort to build a waste management system that is both environmentally friendly and effective.
Rising Demand for Eco-Friendly Waste Management Solutions in the Industry is Driving the Market Growth:
The industry is experiencing growth due to an escalating demand for eco-friendly solutions. With a heightened awareness of environmental issues, there is a clear preference among consumers and businesses for waste management services that prioritize eco-friendly practices.
This demand is fuelled by commitment to reducing environmental impact, emphasizing recycling, and minimizing waste. Waste management companies offering innovative and sustainable solutions, such as efficient recycling processes and waste reduction initiatives, are well-positioned to capitalize on this trend.
The rising emphasis on eco-friendly practices not only meets the expectations of environmentally-conscious consumers but also aligns with the broader societal shift towards sustainable business practices, thus driving the growth of the North America waste management market.
Increasing Environmental Awareness to Eradicate Carbon Footprint and Reduce Pollution is Driving the Market:
The growing awareness of environmental issues, such as pollution and climate change, plays a pivotal role in driving the waste management market. With a heightened understanding of the adverse effects of improper waste disposal on ecosystems and human health, there is a global push towards adopting sustainable waste management practices.
This heightened consciousness is evident in the form of stricter environmental regulations and a rising demand for eco-friendly waste disposal solutions. Governments, businesses, and individuals are increasingly recognizing the need to minimize their carbon footprint, leading to a surge in interest and investment in waste management services that prioritize environmental sustainability.
Companies that proactively incorporate green practices and offer innovative solutions to address environmental concerns are likely to experience a surge in demand as consumers and regulatory bodies alike seek responsible and eco-conscious waste management options.
High Costs Associated with Waste Management Restrains the Market Growth
The costs and investments associated with advanced waste management facilities and technologies pose a substantial restraint for the growth of the waste management market. The development, establishment, and operation of cutting-edge waste processing facilities, including recycling plants and waste-to-energy facilities, require significant capital expenditures.
Moreover, ongoing maintenance, regulatory compliance, and the need for skilled personnel entail recurring costs. These financial burdens can be a deterrent for potential entrants and smaller waste management companies seeking to expand their services.
As a result, the market landscape can become more challenging to navigate, and the growth of the industry may be hindered, especially for those who lack the financial resources to make substantial investments.
Waste-to-Energy Conversion Technologies Creates Lucrative Growth Opportunity for the Market:
One significant opportunity in the North America waste management market lies in the advancement of waste-to-energy conversion technologies. This approach involves the utilization of various methods, including incineration, anaerobic digestion, and gasification, to transform non-recyclable waste into valuable energy sources such as electricity, heat, or biofuels.
By harnessing the calorific value of waste materials, these technologies not only contribute to reducing the volume of waste destined for landfills but also address the increasing global demand for sustainable energy solutions. Implementing efficient waste-to-energy systems not only promotes environmental responsibility by minimizing the environmental impact of waste disposal but also contributes to a more sustainable and diversified energy mix.
The U.S. Holds the Dominant Market Share in the North America Waste Management Market
The rising prominence of waste-to-energy solutions is driving the U.S. waste management market. As the countrys focus intensifies on transitioning to cleaner energy sources, waste-to-energy technologies emerge as a dual-purpose solution.
These innovative systems facilitate the conversion of waste materials into valuable energy resources, simultaneously addressing the challenges of waste management and contributing to the generation of sustainable power. Waste-to-energy processes encompass various technologies, such as incineration, gasification, and anaerobic digestion, offering businesses an opportunity to not only manage waste effectively but also extract renewable energy.
Also, heightened awareness of resource conservation is driving the waste management market. With a strong cultural emphasis on environmental responsibility, the population actively seeks innovative solutions that prioritize recycling, reuse, and resource recovery.
This awareness has created a demand for sustainable waste management practices, positioning the country as a market where companies offering eco-friendly solutions can thrive. The emphasis on minimizing environmental impact aligns with global trends, contributing to the growth of the U.S. waste management sector.
Mexico Marks as the Fastest Growing Country in the Market
The rapid rate of urbanization and population growth plays a pivotal role in propelling the waste management market in Mexico. With urban areas expanding at an unprecedented pace and populations swelling, there is a substantial increase in waste generation. Urbanization not only accentuates the challenges but also presents opportunities for the waste management sector to develop sustainable and technologically advanced solutions, making it a pivotal force in the transition towards more responsible and eco-friendly urban waste practices.
Also, stringent environmental regulations imposed by governments is driving force behind the growth of the waste management market. Governments from the country are indorsing and enforcing stringent rules and standards to address waste disposal and recycling practices.
These regulations set clear guidelines for how waste should be managed to minimize environmental impact and promote sustainability. In response to these laws, businesses and communities are compelled to adopt more responsible waste management practices, leading to increased demand for professional waste management services and advanced technologies thereby boosting the market growth.
Competitive Landscape
Leading market players operating in the waste management market include Biffa Group, Clean Harbors, Inc., Covanta Holding Corporation, Hitachi Zosen Corporation, Waste Management Inc., Veolia Environment S.A, Suez Group, Remondis SE & Co. Kg, Republic Services, Inc., and Waste Connections, Inc. These market players are adopting strategies, such as product launches, across various country, to maintain their dominance in the Waste management market.
Key Market Segments
By Waste Type
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Municipal Waste
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Industrial Waste
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Hazardous Waste
By Waste Treatment
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Landfill Disposal
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Incineration
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Recycling
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Composting
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Chemical Treatment
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Others
By End User
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Residential
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Commercial
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Industrial
By Region
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North America
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The U.S.
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Canada
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Mexico
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 275.58 Billion |
|
Revenue Forecast in 2030 |
USD 373.05 Billion |
|
Growth Rate |
CAGR of 5.2% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
3 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Biffa Group
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Clean Harbors, Inc
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Covanta Holding Corporation
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Hitachi Zosen Corporation
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Waste Management Inc.
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Veolia Environment S.A
-
Suez Group
-
Remondis SE & Co. Kg
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Republic Services, Inc.
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Waste Connections, Inc.
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