Municipal waste management includes the collection, transport, processing or disposal, managing and monitoring of waste materials. It involves handling urban waste from household, municipal parks and gardens, commercial premises etc. The waste generated is commonly sorted at material recovery facilities where it is separated into dry and wet waste for better processing. Municipal solid waste contains organic biodegradable materials like food waste which produces methane gas that can be recovered and utilized. The non-biodegradable waste is sent to landfills or incinerated.

The global municipal waste management market is estimated to be valued at US$ 2441.3 billion in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Circular economy offers an opportunity in the municipal waste management market. Circular economy aims at minimizing waste and making the most of resources by keeping materials in use for longer. It involves recovering and regenerating products and materials instead of disposal. Municipalities can implement circular economy programs to collect recyclables and process organic waste for composting. This helps reduce landfill waste and promotes reuse. Transitioning to circular models can boost resource productivity and foster sustainable economic development. Municipal solid waste includes recyclables and biomass that can be utilized again if recovered efficiently, thus supporting the circular economy opportunity in waste management.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the waste management market is moderate. Significant capital investments and expertise are required to challenge the existing players. However, growing environmental concerns are encouraging new players to enter this industry.

Bargaining power of buyers: The bargaining power of buyers is high since waste management services are not highly differentiated and buyers have a wide array of options to choose from. Buyers can negotiate over price and quality of services.

Bargaining power of suppliers: Suppliers of waste collection vehicles, containers, and disposal equipment have moderate bargaining power due to highly specialized equipment. However, established players reduce their dependence by diversifying suppliers.

Threat of new substitutes: There is a low threat of substitutes as waste management through proper disposal and recycling is becoming mandatory across regions. Emerging alternatives are not viable substitutes for existing waste management methods.

Competitive rivalry: The competitive rivalry is intense due to the presence of regional and global players offering a range of integrated waste management services. Players compete based on price, quality, range of services, and environmental sustainability.

SWOT Analysis

Strengths: Strong infrastructure and economies of scale of major players. Growing environmental regulations tightening industrial and municipal waste disposal norms.

Weaknesses: High capital investment requirements. Vulnerable to unfavorable regulatory changes.

Opportunities: Increasing municipal solid waste generation due to rapid urbanization and changing consumption patterns. Rising need for appropriate waste-to-energy technologies.

Threats: Low waste collection and segregation in developing regions. Difficulty in ensuring environment compliance across value chain.

Key Takeaways

The Global Waste Management Market Share is expected to witness high growth at a CAGR of 9.0% during the forecast period of 2024 to 2030.

Regional analysis: Europe is the second largest market for waste management globally. The region has established regulations for municipal and industrial waste management. Germany, U.K., Italy, and France are the major European countries contributing to regional market growth. Asia Pacific is estimated to be the fastest growing region on account of rapidly growing urbanization and industrialization in China and India. Lack of proper waste management infrastructure in developing APAC economies will drive new investment opportunities.

Key players operating in the waste management market are Fujifilm Holdings Corporation, Olympus Corporation,Hitachi Medical Corporation, Pentax Medical (Hoya Corporation), Boston Scientific Corporation, Cook Medical, Carl Zeiss Meditec AG, Medtronic plc,BARD Diagnostic Systems, Inc., ACON Laboratories, Inc. Major players are investing in mergers and acquisitions to expand their regional presence as well as offering innovative digital and robotic technology-enabled solutions.

Get More Insights Here

https://captionssky.com/bottled-water-industry-in-united-states-an-ever-growing-segment/

https://www.ukwebwire.com/waste-management-market-size-share-growth-outlook-2023/