Waste Management Procurement 2030 – Global Market Set to Boom at 5.4% CAGR

The global waste management category is anticipated to grow at a CAGR of 5.4% from 2023 to 2030. Factors that influence the growth include stringent government regulations for effective management of waste, rising global population, increased commercialization and industrialization, continuous development in urban & rural transportation, and rise in e-waste due to technological advancements. Waste production tends to grow with urbanization due to higher consumption of packaging materials. Consequently, there’s a greater demand for the services offered in the category. In addition, technological advancements have increased the effectiveness of waste management practices thereby reducing their harmful environmental impact. However, the absence of necessary infrastructure for waste collection and separation can hinder the category’s growth.

With the increase in construction projects across the globe, urban localities are utilizing more materials for construction and demolition.In certain places, much of the waste stream from these construction / demolition activities gets illegally deposited on land or in naturally occurring drainage systems, including water, thus, violating the regulations meant to protect public health, industry, and environment.In addition,businesses and residents are disposing of millions of tons of building waste each year in solid waste disposal. This is being supplemented by the development of smart cities to promote sustainable economic growth. The quantity of waste produced by buildings is significantly influenced by macroeconomic variables, which encompassessocietal consumption habits, and risks (both man-made and natural). All these factors are anticipated to fuel the growth of the global category, with the requirement of effective and efficient waste management services.

Order your copy of the Waste Management Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

The global waste management category was estimated at USD 1,293.7 billion in 2022. With a market share of more than 61.9%, the collection segment dominated the industry. Waste collection involves sorting and packing waste, choosing an appropriate location, preparing it for waste storage at a minimum distance from the point of generation, and maintaining the waste. The garbage collection providers need to take care of regular cleaning and maintenance of these storage places. Appropriate precautions are required to prevent garbage from spilling or leaking during transportation. For instance, during transit, the liquid waste must be sealed and kept leak-free. In addition, both hazardous and non-hazardous waste need to be delivered straight to the recycling facility. However, transportation of hazardous waste must only be carried out in vehicles that meet safety regulations. During the projection period, the disposal segment is predicted to grow at the highest CAGR of 5.9%.

Technologies that are driving the category’s growth include artificial intelligence (AI), robotics, internet of things (IoT), big data & analytics, blockchain, and advanced recycling. Waste management is a multi-step activity that includes planning for sorting, pickup, and trucking. The process is laborious because of the large amount of garbage that needs to be handled. Workflows, getting integrated with AI turns the operations more efficient and automates the process of waste management. AI-enabled autonomous garbage collection vehicles can prevent driver injuries. Tracking of waste bins in real-time can be made possible with IoT-based waste management. It enables dumpsters to get filled without being overflowed, allowing for prompt waste collection and disposal. IoT-based temperature sensors monitor dumpster temperatures to avoid fires and explosions.

Waste Management Sourcing Intelligence Highlights

• The waste management category exhibits a moderately consolidated landscape with the presence of a few large players dominating the market.
• Buyers in the industry possess high negotiating power since there are few switching costs, plenty of substitutes, and little differences between the service providers. If consumers are dissatisfied with the services of one player, they can simply switch to a rival.
• India is the preferred low-cost / best cost country for sourcing waste management owing to competitive labor costs, which result in significant cost savings.
• Machineries & equipment, labor, rent & utilities, logistics, and maintenance & repair, and other costs are the major cost components of waste management category. Other costs can be further bifurcated into administrative expenses, depreciation, repayment of loan, insurance, and regulatory certifications.

List of Key Suppliers

• Biffa Ltd.
• Clean Harbors, Inc.
• Covanta Holding Corporation
• Daiseki Co., Ltd.
• FCC Environmental
• Hitachi Zosen Corporation
• Remondis SE & Co. KG
• Republic Services
• Stericycle, Inc.
• SUEZ SA
• Valicor Environmental Services
• Veolia Environnement SA
• Waste Connections, Inc.
• Waste Management, Inc. 

Browse through Grand View Research’s collection of procurement intelligence studies:

• Payroll Outsourcing Services Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Legal Services Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape) 

Waste Management Procurement Intelligence Report Scope

• Waste Management Category Growth Rate : CAGR of 5.4% from 2023 to 2030
• Pricing Growth Outlook : 5% – 10% (annual)
• Pricing Models : Fixed pricing, weight-based / volume-based pricing
• Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
• Supplier Selection Criteria : Industries served, certifications, employee strength, geographic service provision years in service, industrial waste management, municipal waste management, medical waste management, e-waste management, and others
• Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model 

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions