Waste Management and Recovery Services Global Market Report 2024

The waste management and recovery services market size has grown strongly in recent years. It will grow from $177.33 billion in 2023 to $187.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The historical growth in waste management and recovery services can be attributed to the establishment of robust regulatory frameworks, increasing environmental consciousness, a noticeable transition toward circular economic models, and growing concerns about the scarcity of resources.

The waste management and recovery services market size is expected to see strong growth in the next few years. It will grow to $230.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The forecasted growth in waste management and recovery services is expected due to the emergence of innovative business models, a significant shift toward sustainable practices, increased investments in infrastructure, the ongoing trend of urbanization and population growth, and heightened environmental awareness. Key trends in the forecast period are likely to include the implementation of waste-to-energy solutions, a strong emphasis on recycling technologies, the expansion of circular economy models, the integration of smart waste management solutions, and the utilization of bio-based and biodegradable materials.

The waste management and recovery services market is anticipated to experience significant growth, driven by the ongoing trend of rising urbanization. Urbanization, defined as the substantial shift of populations from rural to urban areas, leads to physical transformations in urban environments, resulting in increased waste generation. This surge in waste poses health threats and contributes to environmental degradation in urban areas. Waste management and recovery services play a crucial role in mitigating these challenges, striving for a cleaner and better environment. As per The World Bank's data in October 2022, the global urban population is projected to rise from 4.4 billion in 2022 to 6 billion by 2045, representing an approximate 1.6 times increase from the current urban population. This significant urbanization trend is a key driver for the growth of the waste management and recovery services market.

A contributing factor to the market's growth is the increasing demand in the residential sector. The residential sector encompasses the portion of the economy and real estate market dedicated to housing and living spaces for individuals and families. Implementing effective waste management and recovery services in residential areas enables communities to contribute to environmental sustainability, resource conservation, legal compliance, enhanced aesthetics, economic well-being, and overall improved quality of life for residents. Data from the United States Census Bureau in October 2023 indicates a notable increase in the number of privately owned housing units approved by building permits on a seasonally adjusted yearly basis. This surge, representing a 13.8% increase from the corrected January rate, highlights the growing demand in residential areas as a driving force behind the waste management and recovery services market.

Innovations in waste management emerge as a prominent trend in the waste management and recovery services market, with major companies focusing on developing innovative products to solidify their market positions. An example is Casella Waste Systems, Inc., a US-based waste management company, which, in October 2022, partnered with TerraCycle, another US-based waste management company, to launch an innovative home recycling pilot called TerraCycle Pouch for hard-to-recycle items. This initiative empowers consumers to divert waste from landfills, engage with their communities, and receive rewards for their efforts. The primary goal is to recycle more than 20 hard-to-recycle materials, offering additional services in line with this innovative trend in waste management.

Major players in the waste management and recovery services market are strategically emphasizing the development of innovative products, such as AI-driven recycling facilities, to boost their market revenues. Recycling facilities incorporating artificial intelligence (AI) are at the forefront of sorting technology, ushering in significant advancements and fostering a more sustainable future for the sector. A notable example is Beeah Group, a UAE-based environmental management company, which, in October 2022, introduced an AI-driven recycling facility. This state-of-the-art facility for Commercial and Industrial (C&I) recycling leverages AI and robotics, aiming to reduce landfill waste and enhance material recovery efficiency. It serves to complement Beeah Recycling's Material Recovery Facility (MRF), the largest in the Middle East and the third-largest globally, in its waste processing initiatives. Beeah's initiative to digitize the waste management and recycling sector, coupled with providing stakeholders in the food value chain access to cutting-edge remote sensing technologies, marks a noteworthy stride in the industry.

In September 2021, VLS Recovery Services, LLC, a prominent US-based leader in waste management services, successfully acquired Pacific Treatment Environmental Services (PTES) for an undisclosed amount. This acquisition represents a significant expansion for VLS in the waste business on the West Coast and into Mexico. PTES, based in Mexico, operates in various environmental services, including waste management, recovery services, and industrial services. The acquisition positions VLS Recovery Services, LLC, as a key player with an extended footprint and capabilities in waste management and recovery services.

Major companies operating in the waste management and recovery services market report are Suez Environment SA, Advanced Disposal Services Inc., Veolia Environment SA, Republic Services Inc., Covanta Holding Corporation, Biffa plc, Clean Harbors Inc., Daiseki Co. Ltd., Hitachi Zosen Corporation, Remondis Se & Co. KG, Waste Management Inc., Allied Waste Industries Inc., BFI Canada Inc., Casella Waste Systems Inc., Cleanaway Waste Management Limited, Eco Waste Solutions Ltd., FCC Environment Ltd., GFL Environmental Inc., Green Conversion Systems Inc., GreenWaste Recovery Inc., IQR Solutions AB, Meridian Waste Solutions Inc., Newalta Corporation, Progressive Waste Solutions Ltd., Recology Inc., Rumpke Consolidated Companies Inc., Stericycle Inc., Waste Connections Inc., Waste Pro USA Inc., Covia Holdings Corporation.

North America was the largest region in the waste management and recovery services market in 2023. The regions covered in the waste management and recovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the waste management and recovery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within the domain of waste management and recovery services, there exist several primary categories including waste collection, incineration or combustion, landfill management, and recycling initiatives. Open dumping, however, refers to an illegal and unauthorized method of disposing of waste, distinct from regulated waste management processes such as landfilling or recycling. The types of waste managed and recovered span a wide range, including hazardous waste, electronic waste (e-waste), municipal waste, plastics, industrial waste, among others. These services cater to diverse end users across residential, commercial, and industrial sectors.

The waste management and recovery services market research report is one of a series of new reports that provides waste management and recovery services market statistics, including waste management and recovery services industry global market size, regional shares, competitors with a waste management and recovery services market share, detailed waste management and recovery services market segments, market trends and opportunities, and any further data you may need to thrive in the waste management and recovery services industry. This waste management and recovery services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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