Ocean View, Delaware, Nov. 14, 2017 (GLOBE NEWSWIRE) —
Global Solid Waste Management Market is set to reach USD 340 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Ongoing adoption of optimized treatment techniques coupled with rising environmental concerns will drive the solid waste management market size. Increasing generation of municipal solid waste owing to large scale urbanization will stimulate the industry growth. As per the United Nations Department of Economic and Social Affairs, share of urban population across the globe is projected to reach 66% by 2050 when compared with 52% in 2014.
U.S. solid waste management market is set to reach over 400 million tons by 2024. Increasing generation of industrial and municipal waste coupled with stringent regulations to eradicate the disposal of non-hazardous leftovers will fuel the business. The Land Disposal Program Flexibility Act of 1996 facilitates regulatory flexibility for the land disposal of specific wastes.
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Shifting focus toward reduction of landfills along with government regulations to reduce GHG emissions will foster the solid waste management market. Adoption of advanced waste treatment facilities including recycling, incineration, composting and anaerobic digestion will further complement the business outlook. In 2015, Walmart announced to achieve the target to use 3 billion pounds of recycled plastics for its packaging and products by 2020.
Collection solid waste management market is projected to witness appreciable growth owing to introduction of strict regulatory norms to limit landfills. Government measures to encourage the collection of recycling waste for the treatment facilities will boost the product penetration. The Ministry of Environment, Heritage and Local Government issues waste collection permit regulation for single region and multi-region waste collection across Europe.
Germany solid waste management market is set to grow over 1.5% owing to favorable government initiatives along with high end technology adoption by management services. The Waste Management Act of 1972, states that reuse and recycling are given priority over other disposal methods as they are cost saving methods.
Notable players in solid waste management market include E.L. Harvey & Sons, Biffa Group, Veolia, Stericycle, Cleanaway, Wheelabrator Technologies, Plasco, Keppel Seghers, Covanta Holding Corporation, Hitachi, Recology, Xcel Energy, Amec Foster Wheeler and Green Conversion Systems.
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Qatar solid waste management market is set to surpass USD 1 billion by 2024. Paradigm shift in population demographics along with economic expansion and growing industrialization will positively impact the industry growth. As per Qatar Economic Outlook, the country has witnessed 3.3% economic growth in 2017 with an expectation to reach 3.6% by 2018.
Increasing urbanization coupled with deterioration of environment to support industrial development will augment the china solid waste management market. Robust increase in municipal waste owing to rapid population growth will further complement the industry outlook. As per National Bureau of Statistics of China, the country has witnessed a population growth of 0.53% in 2017 as compared to last year.
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