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The global industrial waste management market size stood at USD 961.96 billion in 2021. The market value is slated to rise from USD 1,004.38 billion in 2022 to USD 1,473.95 billion by 2029 at a CAGR of 5.6% during 2022-2029.
Fortune Business Insights™ presents this information in its report titled “Industrial Waste Management Market Size, Share & COVID-19 Impact Analysis, By Waste Type (Construction & Demolition Waste, Manufacturing Waste, Chemical Waste, Mining Waste, Oil & Gas Waste, Agriculture Waste, Nuclear Waste, Others), By Service (Landfill, Recycling, Incineration), and Regional Forecasts, 2022-2029”.
Shutdown of Industrial Units and Reduced Waste Production Hindered Market Augmentation
Implementation of stringent lockdowns and social distancing norms resulted in the closure of industries, offices, and educational institutions worldwide. Most workplaces were functioning at 50% capacity as organizations limited their workforce to minimize human contact. This, in turn, decreased the total amount of waste generated and hindered the industrial waste management market growth.
Experts say the COVID-19 pandemic has highlighted the importance of managing waste to reduce long-term health risks to people and the environment, which is likely to generate lucrative opportunities for market growth. It has also resulted in a significant rise in medical waste, which mainly constitutes face masks, hand gloves, and protective gear.
Republic Services Inc. Acquires US Ecology Inc. to Expand Reach in the U.S. and Canada
In May 2022, Republic Services, Inc. acquired all pending shares of US Ecology, Inc. at USD 48 per share which places the company’s value at USD 2.2 billion. This acquisition expands the company’s footprint in environmental solutions in Canada and the U.S. It enables faster growth of the company, including additional acquisitions and cross selling revenue opportunity.
Development of Advanced Technologies to Spur the Market
Various emerging and developed economies are focusing on developing innovative industrial waste management technologies and better collection solutions. Economies are developing new technologies for waste collection. E-waste disposal is also gaining popularity around the world. Kuwait is the largest per capita producer of e-waste and utilizes the same landfills for e-waste and conventional waste.
Various industrial waste management technologies have been introduced in many regions worldwide, and different effective waste management techniques have been integrated into several countries around the globe which will propel the market. For example, the Dubai Municipality is installing smart weighbridges and electronic gates at all landfill sites to make them more sustainable.
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Acquisition of Other Prominent Companies Will Boost the Market
Industry leaders often make tactical decisions, such as mergers, partnerships, product launches, and investments, in advanced technology to strengthen their position in the global market and garner massive revenues. One such move is the acquisition of other leading companies to strengthen the company’s offerings. In October 2021, Remondis International GmbH acquired all shares of Veolia Recycling Solutions Nordic AB. Through this acquisition, REMONDIS aims to strengthen its position in Northern Europe region and is significantly expanding its business activities on the Swedish market.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
Value (USD Billion)
By Waste Type, Service Type, and Region
By Waste Type