The research analyst predicts the global industrial waste recycling and services market to grow steadily at a CAGR of over 12% during the forecast period. The increasing amount of waste generated due to rapid industrialization is one of the primary growth drivers for this market. This research report indicates that more than 11 billion tons of industrial waste is collected worldwide, which needs to be managed properly, or else there will be land-space constraints, resulting in illegal dumping.
Technological advances in recycling procedures, which include thermal and biological technologies, is also expected to boost the market growth during the forecast period. Waste recycling methods are chosen based on a cost-benefit analysis. By implementing cost-benefit analysis, industries get a proper perspective on the social, economic, and environmental issues involved, which can enable them to choose the most suitable technology.
Segmentation by industry and analysis of the industrial waste recycling and services market
- Construction and demolition
- Oil and gas
The construction and demolition segment dominated the market during 2015, with a market share of around 28%. Growing environmental concerns and increasing waste management initiatives are the main factors fueling the demand for waste recycling and services in the construction and demolition segment.
Waste type segmentation and analysis of the industrial waste recycling and services market
The non-hazardous waste segment dominated the industrial waste recycling and services market and accounted for about 87% of the market share during 2015. The non-hazardous segment is expected to grow steadily during the forecast period due to the government policies, such as those set by the Environmental Protection Agency (EPA) in the US.
Competitive landscape and key vendors
The global industrial waste recycling and services market is characterized by the presence of a large number of suppliers. Therefore, it is difficult to determine the market shares of suppliers at present. The APAC region is expected to witness encouraging growth during the forecast period due to massive growth in industrial activities, resulting in the generation of huge amounts of industrial waste. As a result, many vendors are looking to expand into APAC to expand their market footprint during the forecast period.
The leading vendors in the market are -
- Republic Services
- Suez Environnement
- Veolia Environmental Services
- Waste Management
Other prominent vendors in the market include Abengoa, Befesa, Enviro-Serv, Progressive Waste Solution, and Remondis.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global industrial waste recycling and services market?
- What are the key market trends impacting the growth of the global industrial waste recycling and services market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global industrial waste recycling and services market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global industrial waste recycling and services market?