Hazardous Waste Management Market Trends

  • Report ID: 3335
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Hazardous Waste Management Market Trends

Growth Drivers

  • Growing Number of Industrial Activities Worldwide
  • Strict Government Regulations Associated with Waste Disposal

Challenges

  • Lack of Awareness about Proper Collection and Segregation of Waste in Lower Economic Regions

Hazardous Waste Management Market: Key Insights

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

5.6%

Base Year Market Size (2024)

USD 17.91 billion

Forecast Year Market Size (2037)

USD 36.37 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Dhruv Bhatia


  • Report ID: 3335
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of hazardous waste management is evaluated at USD 18.76 billion.

Hazardous Waste Management Market size was over USD 17.91 billion in 2024 and is poised to exceed USD 36.37 billion by 2037, witnessing over 5.6% CAGR during the forecast period i.e., between 2025-2037.

North America industry is expected to hold largest revenue share by 2037, on the back of strong presence of well-established healthcare infrastructure, and high government investments to establish recycling facilities in the region.

The major players in the market are American Waste Management Services, Inc., Clean Harbors, Inc., Suez SA, SMS Envocare. Ltd, Chloros Environmental Ltd, and others.
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