Global Waste Recycling Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028

Global Waste Recycling Services Market Overview:

"The Waste Recycling Services Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Waste management is activities or actions required to manage waste from final disposal. This process includes collecting, transporting, treating, and disposing of waste. Recycling is processing used waste materials into new useful products. This is done to reduce the use of raw materials that would have been used. Recycling uses less energy and is a better way of controlling air, water, and land pollution.

Developing regulations related to water management by the government of developed and developing countries and increasing government approach toward recycling and reusing products are some major factors expected to drive the global market growth. In addition, various initiatives by the government of developed countries in collaboration with private players are expected to support market growth to a certain extent.

Moreover, rising electronic waste across the globe and increasing investment by major players focusing on developing new technologies to convert waste to fuel are other factors expected to boost the growth of the global market.

In addition, increasing awareness of the benefits of recycling among people and a growing number of recycling manufacturers are other factors expected to support the growth of the target market over the forecast period.

However, the high initial cost of manufacturing and installing solid-state transformers is a major factor expected to hamper the growth of the global market.

Increasing investment by major players, coupled with various initiatives by the government of developing countries for waste management, is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.

Global Waste Recycling Services Market Segment:

The waste recycling services market is segmented by waste type: compost and food waste, glass and fiberglass, metal scraps, waste paper, electronic waste, and others. The electronic waste segment is likely to dominate the market in the forecast timeline, owing to the lowered lifespan of consumer electronic devices, resulting in the generation of huge amounts of electronic waste.

Region Analysis:

The market in North America is expected to dominate the global market in terms of revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed to increasing initiatives by the government toward waste management and the presence of major players operating in the countries in this region. In 2011, Waste Management, a waste management company operating in the US, produced enough energy to power more than 1.17 Mn homes and expanded its waste recycling capacity by 1 Mn tons. The market in the Asia Pacific is expected to witness faster growth, owing to the increasing per capita income of the middle-class population and increasing government approach towards zero waste, coupled with changing rules and regulations related to waste disposable. The market in Europe is expected to contribute significant revenue share in the global market.

Global Waste Recycling Services Market Segmentation:

By Waste Type:

• Compost and Food Waste
• Glass and Fiberglass
• Metal Scraps
• Waste Paper
• Electronic Waste

By Application:

• Municipal
• Industrial
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa