The global commercial waste management industry stood at USD 141.54 Bn in 2018 and is projected to show noteworthy growth with CAGR 6.7% over the forecast period. Growth in restaurant chains, hotels and commercial buildings across several parts of the globe is increasing waste generation, which is fueling the demand for efficient waste management systems. Growth in consumer awareness for waste management, coupled with increased efforts at government level is projected to augment the industry demand over the forecast period.
Adroit market research recently published a study on “Commercial waste management market”. The report provides a holistic view of the industry that are relevant to all the participants across the industry chain. The research study provides market estimates from the period ranging from 2015 to 2025 where 2015-2017 represents the historical statistics and 2019 to 2025 as the forecast figures.
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Suez Environnement SA, Veolia Environnement SA, Republic Services, Waste Connections, Clean Harbors, Covanta, Rubicon Global, Waste Management and Biffa are examples of some of the major companies operating in the commercial waste management market.
The market research study on commercial waste management gives is categorized by component, product, application and region. The report also assesses the industry scenario through qualitative factors such as drivers, restraints and opportunities. Furthermore, in-depth market competition assessment is done by analyzing the key market players and Porter’s five forces analysis.
The “Global Commercial Waste Management Market Size 2018 By Component (Equipment, Service), By Product (Non-food waste, Food waste), By Application (Collection, Disposal, Transfer, Others) By Region and Forecast 2019 To 2025” study provides an elaborative view of historic, present and forecasted market estimates.
The scope of commercial waste is defined as the waste generated from commercial establishments such as office buildings, complexes, restaurant, and hotels among other establishments falling in this category.
Ongoing pace of growth of hospitability and commercial estate sector is projected to boost the waste management segment demand in near future. Growing income levels is augmenting per capita spending, which in turn is positively affecting the hospitality industry as the consumer is increasingly spending in “dine out” culture. Rapid industrial growth in developing countries coupled with fast paced urbanization has further boosted the waste generation per capita across the globe. Due to these factors, commercial waste management segment is projected to witness significant growth in coming years. However, high costs associated with waste management and lack of existing infrastructure is likely to hamper the overall market growth over the forecast period.
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The commercial waste management market is categorized by component, product and application. By component, service sector is projected to dominate the market. Developing waste infrastructure emerging countries, inculcation of sophisticated waste management practices along with advanced technological monitoring is projected to supplement the segment growth over the forecast period. By product, although non-food segment is projected to dominate with one third of the market share, food/organic segment is projected to show high growth with CAGR of 6.9% over the forecast period. Furthermore, collection segment is slated to continue its dominance with CAGR of 6.4%.
Asia Pacific is projected to emerge as the largest regional segment with CAGR of 7.5% over the forecast period. Fast paced economic development in countries such as China and India is significantly creating the demand for waste management. Rapid urbanization, increasing per capita spending are some of the key indicators that are escalating the demand for waste management solutions in these countries. On the other hand, developed regions such as North America and Europe are projected to show stable growth in coming years. Central & South America is projected to show signs of positive growth by the end of the forecast period.
In terms of industry competitiveness among key players, commercial waste management presents a fragmented market. In terms of services, few major players account for significant share in North America and Europe, but do not hold grip in other regions. By equipment, the market is totally fragmented with presence of large number of regional and local players.
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