Streamlining Waste Management Increasing Demands for Technological Innovation | Says AMR
North America Waste Management Market Expected to Reach $229.3 Billion by 2027
PORTLAND, OR, UNITED STATES, June 1, 2023/EINPresswire.com/ — Waste management in North America involves the collection, transportation, treatment, and disposal of various types of waste generated by residential, commercial, and industrial activities. Waste management practices in North America have evolved over time to prioritize environmental sustainability, resource recovery, and waste reduction.
An increase in urban population in Mexico is expected to result in growth in waste generation. In addition, huge amount of waste is being generated from the commercial and industrial sector, which in turn, it drives of the North America waste management market growth.
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Here are some key aspects of waste management in North America:
Recycling: Recycling plays a crucial role in waste management efforts in North America. Recycling programs aim to recover valuable materials from waste streams, such as paper, plastics, glass, and metals, for reuse in manufacturing processes. Communities across North America have implemented recycling initiatives and established recycling facilities to process and recover recyclable materials.
Composting: Composting is the process of decomposing organic waste, such as food scraps and yard waste, into nutrient-rich compost. Composting facilities facilitate this process, turning organic waste into a valuable resource for soil enrichment and reducing the amount of waste sent to landfills.
Waste-to-Energy (WTE): Waste-to-energy facilities use various technologies, such as incineration or anaerobic digestion, to convert waste into energy. These facilities generate electricity or heat by harnessing the energy potential of waste, contributing to renewable energy production and reducing reliance on fossil fuels.
E-waste Management: Electronic waste, or e-waste, refers to discarded electronic devices. North America has implemented specific e-waste recycling programs to prevent the improper disposal of electronic equipment and recover valuable metals and components.
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According to AMR, The North America waste management market size is expected to reach $229.3 billion by 2027, from $208.0 billion in 2019, registering a CAGR of 5.3% from 2020 to 2027. In 2019, the U.S. dominated the market, in terms of revenue, accounting for about 92.45% share of the North America waste management industry, followed by Canada and Mexico.
Top Players:
The major players, such as Biffa Plc, Covanta Holding Corporation, Bigbelly Inc, Remondis Se & Co. Kg, Veolia Environnement, Hitachi Zosen Corporation, Republic Services, Inc., Clean Harbors, Inc., Suez, Waste Management Inc, have adopted business expansion, and acquisition as their key strategies to improve their service portfolio. For instance, in March 2021, Biffa opened a new waste recycling facility in Washington, Sunderland, U.S. The business expansion aimed to increase the recycling capacity by 50%. The business expansion was done by $15.6 million. The new waste recycling facility has total capacity of 39,000 tons per year.
Waste management practices in North America are continuously evolving, with a focus on waste reduction, recycling, and sustainable alternatives to landfilling. Governments, businesses, and communities work together to develop comprehensive waste management strategies that align with environmental goals and regulations.
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