Waste Management Market Trends And Applications by 2030
Asia-Pacific region dominated the global waste management market
PORTLAND, OR, UNITED STATES, May 15, 2023 /EINPresswire.com/ — Waste management is an ever-evolving field that continuously adapts to societal, environmental, and technological changes.
Several trends have emerged in recent years to address the challenges and opportunities in waste management. Here are some notable waste management trends:
• Circular Economy Approach: The circular economy concept aims to minimize waste generation by promoting the reuse, recycling, and repurposing of materials. It focuses on designing products for durability, ease of repair, and recyclability. The goal is to keep resources in circulation for as long as possible, reducing the need for raw materials and minimizing waste generation.
• Waste-to-Energy Technologies: Waste-to-energy technologies involve converting waste materials into usable energy sources. Examples include waste incineration with energy recovery and anaerobic digestion, where organic waste is converted into biogas. These technologies help reduce the volume of waste going to landfills, while also generating renewable energy.
• Resource Recovery and Material Recycling: Increasing emphasis is being placed on recovering valuable resources from waste streams. Advanced sorting technologies and material recovery facilities (MRFs) are used to separate recyclable materials from mixed waste. This trend aims to increase recycling rates, conserve resources, and reduce the environmental impact of waste disposal.
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• Extended Producer Responsibility (EPR): EPR is a policy approach that holds manufacturers responsible for the entire life cycle of their products, including the management of post-consumer waste. EPR programs encourage manufacturers to design products with recycling and end-of-life considerations in mind. This approach shifts the responsibility and financial burden of waste management from local governments to product producers.
• Digitalization and Smart Waste Management: The integration of digital technologies in waste management has gained momentum. Smart waste management systems use sensors, data analytics, and Internet of Things (IoT) devices to optimize waste collection routes, monitor bin fill levels, and improve operational efficiency. This technology-driven approach helps reduce costs, minimize environmental impact, and improve service quality.
• Waste Reduction and Prevention: There is a growing focus on waste reduction and prevention strategies, such as source separation, composting, and food waste prevention initiatives. By addressing waste at its source, these efforts aim to minimize the amount of waste generated in the first place, promoting a more sustainable and resource-efficient approach.
According to AMR, the global waste management market size was valued at $1,612.0 billion in 2020, and is expected to reach $2,483.0 billion by 2030, registering a CAGR of 3.4% from 2021 to 2030. In 2020, Asia-Pacific region dominated the global waste management market, in terms of revenue, accounting for about 58.0% share of the global waste management industry, followed by Europe and LAMEA
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Segmentation Based On:
The global waste management market is segmented on the basis of type, service, and region. On the basis of type, the market is divided into municipal waste, industrial waste, and hazardous waste. On the basis of services, it is classified into collection services and disposable services. The collection services segment is sub segmented into collection & transportation, storage & handling, and sorting. The disposable services segment is further segregated into landfills, recycling, compositing & anaerobic digestion and others.
Region wise, the waste management market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, Denmark, Norway, Ireland, Portugal, Greece and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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David Correa
Allied Analytics LLP
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