Implementation of advance waste disposal and waste collection systems, is anticipated to provide lucrative opportunities for growth market.
According to the Allied Market Research, titled North America Waste Management Market by Type (Municipal Waste, Industrial Waste, and Hazardous Waste), and Service (Collection Services, and Disposable Services): Global Opportunity Analysis and Industry Forecast, 2020–2027. 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.
Surge in amount of waste and stringent government regulations for waste management and illegal dumping fuel the growth of the North America waste management market. However, labor intensive and high costs of transportation hinder the market growth. On the other hand, implementation of advanced waste management practices presents new opportunities in the next few years.
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- The waste production witnessed a steep decline from several industries and the commercial sector during the initial phase of covid-19, as industries and offices were partially or completely shut down. This, in turn, has affected the North America waste management market growth.
- However, the growth in hygiene concerns due to the rapidspread of coronavirus has augmented the demand for waste management.
The report offers a detailed segmentation of the North America waste management market based on service, type, and country.
Based on type, the industrial waste segment accounted for the largest market share in 2019, contributing to more than four-fifths of the total north america waste management market share, and is expected to maintain its leadership status during the forecast period. However, the hazardous waste segment is projected to witness the largest CAGR of 7.2% from 2020 to 2027. The report also involves municipal waste segment.
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Based on services, the disposable services segment held the highest market share in 2019, accounting for more than half of the North America waste management market, and will maintain its dominance in terms of revenue during the forecast period. The same segment is expected to portray the highest CAGR of 5.5% from 2020 to 2027. The report also studies collection services segment.
Based on country, the U.S contributed to the largest market share in 2019, accounting for 92% of the total market share, and will maintain its lead position by 2027. However, Mexico is expected to maintain the highest CAGR of 7.4% during the forecast period. The report also analyses the market across Canada.
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Leading players of the North America waste management market analyzed in the research include Biffa Plc, Covanta Holding Corporation, Bigbelly Inc., Remondis Se & Co. Kg, Veolia Environnement, Hitachi Zosen Corporation, Republic Services, Inc., Clean Harbors, Inc., Suez, and Waste Management Inc.
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