Municipal Solid Waste Management Market to grow by USD 34.04 billion| Increase in the Urban Population acts as Key Driver | 17000+ Technavio Reports
NEW YORK, Nov. 19, 2021 /PRNewswire/ — Municipal Solid Waste Management Market- Forecast and Analysis Report 2019-2023: The market witnessed a YOY growth rate of 2.59% at an accelerating CAGR of nearly 3% between 2018 and 2023, as per the Technavio.
Revenue Generating Segment
- The landfill segment will account for the highest market share. Efficient landfill sites have been developed across the world to ensure efficient waste management for recreational purposes and to reduce the adverse impact of MSW on the environment.
- The rising volume of MSW generated across the world has made landfills the preferred waste disposal method, especially in developing countries, as other disposal methods such as incineration are expensive. The use of landfills as an MSW disposal method is also preferred due to the efficient management of the released landfill gas.
Revenue generating segments highlights and insights on market analysis of coming years – View FREE Sample
The report is market is segmented by disposal method (landfill, incineration, recycling, open dump, and others) and Geography with insights on the growth prospects of the market across the APAC, Europe, Middle East and Africa, North America, and South America
- The global municipal solid waste management market is highly fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
- The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
- For Instance- In December 2018, China Everbright International Limited acquired a 90% equity stake in Jiangsu Jiayuan Environmental Technology Company Limited. In June 2018, China Everbright International Limited announced that it signed an equity stake purchase agreement with the Xuzhou Municipal Engineering Design Institute in Jiangsu Province and its existing shareholders to acquire the entire equity interest at a cash consideration of $12.14 million. Similarly, In October 2018, Hitachi Zosen Vietnam, the company’s subsidiary, opened a branch in Hanoi. The operations of the branch commenced on October 1, 2018.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- China Everbright International Limited
- Hitachi Zosen Corporation
- Republic Services, Inc.
- Waste Management, Inc.
Find additional highlights on the growth strategies adopted by vendors & their product offerings. Read Free Sample Report.
Geographical Market Analysis
- APAC will account for the highest municipal solid waste management market share of 42% throughout the forecast period.
- The implementation of several government regulations to ensure MSW management and the protection of human health and the environment in countries such as China is one of the major reasons for the high growth of the municipal solid waste management market in the region.
Know more about this market’s geographical distribution along with the detailed analysis of the top regions https://www.technavio.com/report/global-municipal-solid-waste-management-market-industry-analysis
Key Market Trends & Challenges:
- The coming years will witness the integration of digital technology in MSW management. The integration of technologies such as GIS helps in selecting appropriate sites for MSW management, including recycling centers and landfills. GIS also analyzes the adverse environmental impacts and identifies potential landfill sites by considering various aspects including land use, transportation facilities, water resources, the degree of urbanization, and topography.
- Additionally, it also prevents environmental damage by establishing buffers between landfill sites and roads and residential areas. The integration of digital technologies will help in the efficient management of MSW, which will be one of the key trends driving municipal solid waste management market growth during the forecast period.
- The high operating and maintenance costs of MSW treatment will be one of the key challenges impeding the growth of the municipal solid waste management market size.
- Incineration plants require huge capital investment and involve high operating and maintenance costs. Moreover, the operation of incineration plants requires skilled staff. Hence, most of the incineration plants are built and maintained by vendors themselves for the initial period and then handed over to the client after a certain period of time. Moreover, with stringent regulations for reducing GHG emissions, the use of flue gas treatment has become mandatory. This further incurs additional costs. Similarly, there are significant costs associated with the landfilling of MSW
View free sample for highlights on market Trends & Challenges affecting the municipal solid waste management market.
Customize Your Report
Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.
We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now!
Medical Waste Disposal Market –The medical waste disposal market share should rise by USD 968.64 million from 2021 to 2025 at a CAGR of 6.70%. Download a free sample now!
Water and Wastewater Treatment Chemicals Market –The water and wastewater treatment chemicals (WWTCs) market have the potential to grow by USD 15.65 billion during 2021-2025. Download a free sample now!
Municipal Solid Waste Management Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of nearly 3%
Market growth 2018-2023
USD 34.04 billion
YoY growth (%)
Performing market contribution
APAC at 42%
Leading companies, competitive strategies, consumer engagement scope
China Everbright International Limited, Hitachi Zosen Corporation, Republic Services, Inc., Veolia, and Waste Management, Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
View original content to download multimedia:https://www.prnewswire.com/news-releases/municipal-solid-waste-management-market-to-grow-by-usd-34-04-billion-increase-in-the-urban-population-acts-as-key-driver–17000-technavio-reports-301428194.html
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.