Market Size of Pneumatic Waste Management System In GCC
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 23.80 Million |
| Market Size (2029) | USD 32.78 Million |
| CAGR (2024 - 2029) | 5.47 % |
| 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?
Pneumatic Waste Management System In GCC Market Analysis
The Pneumatic Waste Management System In GCC Market size is estimated at USD 23.80 million in 2024, and is expected to reach USD 32.78 million by 2029, growing at a CAGR of 5.47% during the forecast period (2024-2029).
- In 2023, as per the new World Bank Gulf Economic Update (GEU), the economies of the Gulf Cooperation Council (GCC) grew at a slower pace in 2023 compared to 2022 due to lower oil and gas earnings and a global economic slowdown.
- Waste-to-energy projects are witnessing significant growth in the GCC region, as they are paving a way to reduce landfills and produce power in the region. Waste volume in GCC countries is growing sharply with the growing population and industrialization processes. Hence, Gulf country governments are planning to invest in projects to meet sustainability targets and reduce carbon emissions.
- In addition, waste-to-energy projects boast several benefits, such as reducing greenhouse gases, creating useful energy, and turning waste into energy. Also, 1 ton of waste can generate nearly 550 to 700 kWh of electricity. Moreover, the goals set by Gulf countries to achieve carbon neutrality by 2050 further drive the demand for waste-to-energy projects in the region.
- Meanwhile, in September 2023, Saudi Arabia's City Cement Company subsidiary, Green Solutions for Environmental Services, planned to set up a joint venture to produce alternative fuel from waste and market it locally and globally. The new venture, with a capital investment of USD 1.8 million, is owned 29.4% by Green Solutions, 19.6% by Lechtenberg Middle East for Environmental Services Co., and 51% by Tadweer Environmental Services Company, a unit of public investment fund-backed Saudi Investment Recycling Company.
