Global waste management market value 2020-2030
The global waste management market was valued at 1.61 trillion U.S. dollars in 2020. It is projected that the market will register a CAGR of 3.4 percent during the forecast period of 2021 to 2030 to reach a value of 2.5 trillion U.S. dollars. Waste management deals with municipal, hazardous, and industrial waste, which accounts for the largest share of the market, by revenue.
A key driver for the growth of the global waste management market size is the rise in the world’s population and the subsequent increase in waste generation. In 2016, global municipal solid waste generation was estimated at 2.02 billion metric tons and is expected to have surpassed three billion metric tons by 2050.
Waste management consists of collecting, transporting, disposing, recycling, and monitoring waste items in a manner that minimizes environmental and health impacts. There are several treatment and disposal methods available, including composting, recycling, landfilling, and waste-to-energy incineration. However, globally the most common method of waste disposal is open dumping, which is a practice widely seen in low-income countries.
Waste generation is surging
A key driver for the growth of the global waste management market size is the rise in the world’s population and the subsequent increase in waste generation. In 2016, global municipal solid waste generation was estimated at 2.02 billion metric tons and is expected to have surpassed three billion metric tons by 2050.
How is waste managed?
Waste management consists of collecting, transporting, disposing, recycling, and monitoring waste items in a manner that minimizes environmental and health impacts. There are several treatment and disposal methods available, including composting, recycling, landfilling, and waste-to-energy incineration. However, globally the most common method of waste disposal is open dumping, which is a practice widely seen in low-income countries.
