Industrial Waste Management Market Trends – Industry Innovation & Forecast To 2027
The global industrial waste management market size will grow at a healthy CAGR between the forecast period 2017- 2023, according to the new Market Research Future (MRFR) analysis. Industrial waste, simply put, is the waste which is generated by a manufacturing or industrial activity. The waste generated comprises boiler slags, coal ash, wood and scarp lumber, weed grass and trees, chemicals, solvents, trash, oil, scrap metals, masonry and concrete, dirt and gravel, and similar waste. Waste management is the process or activity to treat waste and offer different solutions to recycle it.
Various factors are propelling the global industrial waste management market trends. According to the recent MRFR market estimates, such factors include growing concerns about waste management across the globe, increasing challenges associated to waste that are difficult to discard, increase in consumer spending, early disposing of usable products, increasing volume of hazardous waste from different industries like manufacturing, pharmaceutical, and healthcare, and growth in production activities. Additional factors adding market growth include increasing energy needs, mandatory regulations, and rules to encourage the use of industrial waste management solutions, and a rise in environmental awareness.
On the contrary, the on-going COVID-19 impact, huge cost, increasing fuel cost, and lack of infrastructure to sustain proper waste collection are factors that may impede the global industrial waste management industry growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global industrial waste management market based on type, and service & equipment.
By type, the global industrial waste management market is segmented into chemical, manufacturing, energy, biodegradable, and others. Of these, the manufacturing type segment will lead the market over the forecast period.
By service and equipment, the global industrial waste management market is segmented into incineration, recycling, collection, and landfill. Of these, the collection segment will dominate the market over the forecast period.
By region, the global industrial waste management market report covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Growing demand for CRM solutions across the different industries, adoption of mobile booking technology & travel apps, growing industrial sector, rising environmental concerns, and the strict laws enforced to regulate industrial waste management are adding to the global industrial waste management market growth in the region.
In Europe, the global industrial waste management market is predicted to have the second-largest share over the forecast period. Focus on tourism, sustainable economic growth, rise in favorable policies, and the adoption of high-end management services technology are adding to the global industrial waste management market growth in the region.
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In the APAC region, the global industrial waste management market forecast is predicted to have healthy growth over the forecast period. Developments in travel technology, the presence of densely populated countries such as India and China, growth in urban penetration, rapid industrialization, and favorable government measures in India are adding to the global industrial waste management market growth in the region.
In the Rest of the World, the global industrial waste management market is predicted to have sound growth over the forecast period. Increasing tourism services, technological advances, and rising scope of the internet are adding to the global industrial waste management market growth in the region.
Key contenders profiled in the global industrial waste management market report include Clean Harbor, Himark BioGas Inc., Stericycle Inc., Suez Environnement, SA Waste Holding Pvt Ltd., Reclay Group, SembCorp, EnviroServ Waste, and Veolia Environmental.
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