Northbrook, IL 60062 -- (SBWIRE) -- 05/30/2023 -- According to a new market research report, the global waste management market size is projected to reach USD 542.7 billion by 2026 from an estimated value of USD 423.4 billion in 2021, at a CAGR of 5.1%. The key drivers for the waste management market include stringent regulations of governments worldwide for better management of waste and initiate environmental protection; strong focus of several governments to conduct awareness programs showcasing importance of waste segregation and waste management; technological advances and shortened life cycle of electronic products help in increasing e-waste.

Key Market Players:
The key players in the waste management market include companies such as Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US).

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This research report categorizes the waste management market based on Waste Type, Service Type, End User, and Region.
Based on the waste type:

Hazardous Waste
E-waste
Plastic Waste
Bio-medical Waste
Others

Based on the service type:

Open Dumping
Incineration/Combustion
Landfill
Recycling
Composting & Anaerobic Digestion

Based on the end user:

Residential
Commercial
Industrial

Based on the region:

North America
Asia Pacific
Europe
Middle East & Africa
South America

The landfill segment is expected to be the largest market by service type in waste management market

Modern landfills are well-engineered and managed facilities for the disposal of solid waste. Landfills are designed, located, operated, and monitored to ensure compliance with stated regulations. They are also designed to protect the environment from contaminants, which may be present in the waste stream. Landfills cannot be built in environmentally sensitive areas, and they are placed using on-site environmental monitoring systems. These monitoring systems check for any sign of groundwater contamination and landfill gas. Landfills have a stringent design, operation, and closure requirements established under the Resource Conservation and Recovery Act (RCRA).

The residential segment is expected to be the largest segment by end user in waste management market

The residential segment held the largest share of the waste management market growth, by end user in 2020. Waste collected from single- and multi-family dwellings comes under this category. Discarded plastic bags, consumer durables, fast-moving consumer goods (FMCG) products, toys, e-waste products, household hazardous wastes, and other packaging materials collectively represent the waste generated by households. Also, increasing disposable income and shifting the preference of consumers toward e-shopping have significantly raised the quantity of plastic waste generated by the residential sector.

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Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.

Asia Pacific accounted for the largest share of the global waste management market in 2020. The region has been segmented, by country, into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Rest of Asia Pacific mainly includes Singapore, Malaysia, Thailand, and Indonesia. The population growth in the region, the high disposable income of the people, and the increased demand for packaged food products are among a few major factors that drive the growth of waste management in the region. Asia Pacific is also a key contributor to marine plastic pollution. The materials involved include plastic bottles, plastic bags, single-use plastic items, and plastic packaging, among others. Key countries responsible for this kind of pollution include China, Indonesia, and Thailand.

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