Solid waste management is a growing industry as we near a modernized world, where small towns and villages are being modernized to keep pace with the cities and the facilities it offers. Since the population is ever increasing, the waste volume is increasing in proportion with it. What is needed at the hour is to put a proper waste management system in place so that the hazardous effect of solid wastes on the population can be reduced. Emerging and low income economies are at higher risk of suffering from improper solid waste management than the developed economies.
This scenario has propelled the solid waste management market and it is gaining momentum with time. Governments are investing in solid waste management projects and imposing stringent regulations regarding pollution from solid wastes. The key market players are expanding their business accordingly to meet the demand of better solid waste management across the world. According to a report by waterworld.com, “French waste and water treatment group Suez Environnement is considering making a bid for General Electric's industrial water treatment business, a Suez spokeswoman said on Thursday…Reuters reports that Suez is among a handful of other companies, mostly private equity firms which were left in the running after a second round of bidding for GE Water & Process Technologies.”
BIS Research has published an extensive report titled ‘Global Solid Waste Management Market - Analysis and Forecast (2016-2022)’ with focus on recycling, waste to energy incineration, landfill and composting, and anaerobic digestion among other services in municipal and industrial waste type. The analyst at BIS Research says, “It is anticipated that population will grow in Asia Pacific and African regions at a faster rate coupled with rapid urbanization. Urban population’s per capita generation was valued at 1.2 kg by World Bank in 2012 which is estimated to reach at 1.4 kg in 2025. Currently, urban population accounts for 54% in 2015 globally which is expected to reach approximately 58% in 2025. This single fact clearly indicates that that there will be an increase in waste volumes, thus driving the global solid waste management market.”
The report delves into the present market scenario and the key players in the market with their key strategies towards expanding their business across countries. The analyst at BIS Research states, “Global Solid Waste Management Market is anticipated to grow to $1296.04 billion by 2022. It is expected to be mainly driven by environmental impact, increasing population coupled with GDP around the globe and increasing number of megacities which will act as key drivers for the growth of this market.” It is clear from the analytic report that solid waste management is needed for the betterment of the surroundings and environment, and for a sustainable development of the economies.