Market Size of Global Waste Disposal Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Waste Disposal Equipment Market Analysis
The Global waste disposal equipment market is expected to record a CAGR of more than 4.2% during the forecast period, 2022-2027.
COVID-19 impacted the waste management industry from the focus of segment shift; during the lockdown, the residential segment generated more amount of waste as compared to industrial and commercial centres, as industries and offices were partially or completely shut. The volume of medical waste had increased by up to 40%. Industrial and commercial waste production fell drastically due to the slowdown in manufacturing activity. Hazardous waste production grew with higher production from the pharmaceutical and medical sectors. The WHO Global analysis of health care waste in the context of COVID-19 reported that over 140 million test kits, with a potential to generate 2,600 tonnes of non-infectious waste (mainly plastic) and 731,000 litres of chemical waste (equivalent to one-third of an Olympic-size swimming pool) have been shipped, while over 8 billion doses of vaccine have been administered globally producing 144,000 tonnes of additional waste in the form of syringes, needles, and safety boxes. Thus, extra medical waste from the response to the COVID-19 pandemic has put tremendous strain on health care waste management systems around the world, threatening human and environmental health and exposing a dire need to improve waste management practices.
The solid waste management industry is viewed as an business opportunity in USA as it generates huge revenue.In 2020, municipal solid waste landfills had an average tipping fee of USD 53.72 per ton. That translates to roughly USD 1.4 million a year in approximate average gross revenue for small landfills and USD 43.5 million a year for large landfills just from gate fees. Waste Management and Republic Services, lead the solid waste management sector. Together they own about 480 landfills out of the 2,627 landfills across the United States according to CNBC.
Indiana Recycling Economic Information (REI) study cites that Indiana's recycling and reuse industry includes 1,700 establishments, employs approximately 75,000 people and has an annual payroll of USD 3 billion while generating USD 19 billion in annual revenues. The recycling industry contributes USD 285 million in state government tax revenues on an annual basis. Growing concerns about environment and health has triggered the recycling industry to reduce waste accumulation on earth.
