Solid Waste Management Market to Grow

Solid Waste Management Market will exceed 340 billion US-Dollar by 2024, as reported in the latest study by Global Market Insights, Inc.

According to the information, ongoing adoption of optimized treatment techniques coupled with rising environmental concerns will drive the solid waste management market size. Increasing generation of municipal solid waste owing to large scale urbanization will stimulate the industry growth. As per the United Nations Department of Economic and Social Affairs, share of urban population across the globe is projected to reach 66 percent by 2050 when compared with 52 percent in 2014.

U.S. solid waste management market is set to reach over 400 million tons by 2024, Global Market Insights, Inc. announced. Increasing generation of industrial and municipal waste coupled with stringent regulations to eradicate the disposal of non-hazardous leftovers will fuel the business. The Land Disposal Program Flexibility Act of 1996 facilitates regulatory flexibility for the land disposal of specific wastes. Shifting focus toward reduction of landfills along with government regulations to reduce GHG emissions will foster the solid waste management market. Adoption of advanced waste treatment facilities including recycling, incineration, composting and anaerobic digestion will further complement the business outlook.

Germany solid waste management market is set to grow over 1.5 percent owing to favorable government initiatives along with high end technology adoption by management services. The Waste Management Act of 1972 states that reuse and recycling are given priority over other disposal methods as they are cost saving methods.

Qatar solid waste management market is set to surpass 1 billion US-Dollar by 2024, Global Market Insights Inc. stated. Paradigm shift in population demographics along with economic expansion and growing industrialization will positively impact the industry growth.  As per Qatar Economic Outlook, the country has witnessed 3.3 percent economic growth in 2017 with an expectation to reach 3.6 percent by 2018.

Increasing urbanization coupled with deterioration of environment to support industrial development will augment the China solid waste management market, a press release said. Robust increase in municipal waste owing to rapid population growth will further complement the industry outlook. As per National Bureau of Statistics of China, the country has witnessed a population growth of 0.53 percent in 2017 as compared to last year.

Source: Global Market Insights, Inc.

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