As the urban population is growing, the area for disposal of solid waste is decreasing proportionally. Moving the disposal site away from the cities, to small towns and villages, is not a pragmatic solution to the improper waste management. Solid wastes are a threat to environment as well as humankind. It leads to air, land and water pollution, including ground-water pollution. There have been epidemics in several countries due to outbreak of diseases from improper solid waste collection. Hence, solid waste management comes to the fore as the only solution to the problem of improper waste collection.
Increased population and globalization has led to an increase in the total waste volume globally. According to World Bank, the volume of waste will grow exponentially by 2025, and so will the cost of managing the waste, especially in lower middle income countries like India and Brazil, and even higher in low income countries such as Kenya and Ghana among others. Therefore, the need for the solid waste management is needed at present.
A surge is expected in the solid waste management industry as the waste volume is increasing in proportion with the population every year. Recycling services and waste to energy plants will also witness a growth. This scenario gives an upper hand to the existing key players of the market to expand their business across different countries. Traditional solid waste management technology is being integrated with emerging technologies, and zero waste model is being adopted which will encompass and revolutionize the entire solid waste value chain. It will further help all public and private stakeholders to upgrade their solid waste collection system, and recycling and recovery of energy processes.
Since solid waste management is capital intensive, low and lower middle income countries lack the capital and infrastructure for a unified approach towards solid waste management. Lack of social awareness and financial restraints become a hindrance for the growth and development of solid waste management in emerging economies. This drawback can be tackled by involving private players. Public and private partnerships will go a long way in developing economies and hence, will give ample opportunities to major market players. Further, it will also help in integration of new emerging technologies with the traditional method which will help in overcoming the financial barrier. High rate of mergers and acquisitions have been witnessed globally and it will trend in the coming years.
Growing population will be a major factor for the surge in the solid waste management market. Higher growth rate is expected in Asia, Africa and Latin America, whereas stabilization in population growth, and hence in solid waste management market, will be witnessed in North America and Europe. Asia Pacific region will be the fastest growing region for solid waste management market. BIS Research has done an extensive market research report on ‘Global Solid Waste Management Market’. The market analysis report will provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry. For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.