Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The global municipal solid waste management market is estimated to grow at a CAGR of ~2.5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing amount of municipal solid waste (MSW), backed by the growing global population. According to the data by the World Bank, the global population grew at 1.036% in 2020, with the total population of 7.753 billion, which is expected to reach nearly 10 billion by 2050. The mounting solid waste produced by human activities is a concern for the governments across the world, which is estimated to drive the market growth. According to other report by the World Bank, over 2.01 billion tons of municipal solid waste is generated annually globally. Apart from increasing government concerns, the growing awareness amongst people is estimated to be another major growth factor for the market.
The market is segmented by treatment into open dumping, landfills, recycling, incineration, composting, and others, out of which, the recycling segment is anticipated to hold the notable share in the global municipal solid waste management market over the forecast period on account of the growing awareness regarding proper waste treatment. As of 2020, over 33% of the total MSW is not treated safely, according to the data by the World Bank.
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of geographical analysis, the global municipal solid waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the high population in the developing countries, such as, India, and China. Higher population leads to generation of larger quantity of waste, which is estimated to drive the market growth in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period, on the back of increasing general awareness regarding waste management, along with the adoption of recycling in the region. According to the Environment Protection Agency (EPA), 41,900 tons of paper was generated as municipal solid waste, out of which, 33,890 tons paper was recycled, in 2018.
The global municipal solid waste management market is further classified on the basis of region as follows:
Our in-depth analysis of the global municipal solid waste management market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing concerns regarding proper waste management, backed by increasing waste generation, to boost the market growth.
The market is anticipated to attain a CAGR of ~2.5% over the forecast period, i.e., 2022 – 2030.
High capital investment is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities over the forecast period owing to the increasing adoption of recycling in the region.
The major players in the market are Attero B.V., Recology Inc., SUEZ SA, Hitachi Zosen Corporation, Waste Connections, Inc., Biffa Waste Services Ltd, Waste Management, L.L.C., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by source, treatment, and by region.
The residential segment is anticipated to hold largest market size in the forecast period and display significant growth opportunities.
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