North America Waste Management Market Expected to Reach $229.3 Billion by 2027
PORTLAND, OR, UNITES STATES, March 15, 2023 /EINPresswire.com/ — Top Runners of North America Waste Management:
The major players, such as Biffa Plc, Covanta Holding Corporation, Bigbelly Inc, Remondis Se & Co. Kg, Veolia Environnement, Hitachi Zosen Corporation, Republic Services, Inc., Clean Harbors, Inc., Suez, Waste Management Inc, have adopted business expansion, and acquisition as their key strategies to improve their service portfolio.
According to Allied Market Research, titled, The North America waste management market size is expected to reach $229.3 billion by 2027, from $208.0 billion in 2019, registering a CAGR of 5.3% from 2020 to 2027.
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Key Points of North America Waste Management:
In 2019, the U.S. dominated the market, in terms of revenue, accounting for about 92.45% share of the North America waste management industry, followed by Canada and Mexico.
The North America waste management market is segmented based on service, type, and country.
Based on type – The market is classified into industrial waste, hazardous waste, and municipal waste.
Based on service – The market is bifurcated into disposable services, and collection services. The collection services segment is sub-segmented into storage & handling, sorting, and collection & transportation. Disposable services segment is further sub-segmented into recycling, landfills, compositing and anaerobic digestion, and others.
Country wise – The waste management market analysis is conducted across the U.S., Canada, and Mexico.
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Industry Growth Factors:
An increase in urban population in Mexico is expected to result in growth in waste generation. In addition, huge amount of waste is being generated from the commercial and industrial sector, which in turn, it drives of the North America waste management market growth. For instance, according to the International Solid Waste Association, in March 2017, Mexico produced around 37.5 million tons of waste, which included municipal waste and industrial waste. Further, strict government regulation toward open burning, and illegal dumping, fuels the growth of the market.
However, inadequate waste disposal is expected to restrain the growth of the market. Moreover, environmental problems such as soil, water, and air pollution have increased, owing to unplanned waste dumping over the last few years. In addition, increase in environmental awareness has significantly fueled the demand for waste management in developed countries.
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The study of the market players covers the company overview, price analysis, and value chain, along with portfolio analysis of services and products. These players have adopted various strategies such as partnerships, new product launches, joint ventures, and mergers & acquisitions to maintain their foothold in the market.
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