A recent report published by Infinium Global Research on hazardous waste management market provides in-depth analysis of segments and sub-segments in the global as well as regional hazardous waste management market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hazardous waste management market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global hazardous waste management market. According to the report, the global hazardous waste management market is projected to grow at a CAGR of 8.5% over the forecast period of 2019-2025.
Hazardous waste and its proper disposal have become a critical problem due to its impact on the environment and all living things. Hazardous wastes can be in the form of liquids, solids, sludges, or contaminated gases, and they are primarily generated by chemical manufacturing, production, and several other industrial processes.
New and existing stringent legislation and policies such as the EU’s Landfill Directive, the US Clean Air Act, and new hazardous waste management rules in developing countries are some of the major market drivers. Furthermore, rapid industrialization is one of the major factor contributing to the growth of hazardous waste management market. Rapidly growing industries especially in developing countries such as India and China generating considerable volumes of hazardous waste that in turn rising the demand for hazardous waste management systems. However, the approach to hazardous waste management has improved with the implementation of various tight management plans across the globe.
Based on the region, the hazardous waste management market is segmented into North America, Europe, Asia Pacific and Rest of the World. In terms of revenue, North America dominated the market in 2016 and expected to keep its dominance over the forecast period. The growing healthcare sector, the presence of a large number of pharmaceutical companies and the heavy amount of infectious waste generated by them and the implementation of the Environmental Protection Agency (EPA) contributing to the growth of the market in this region. Europe is expected to stay in the second position in the global hazardous waste management market. According to the European Commission, the volume of hazardous waste generated by the pharmaceutical industry by European Union countries in 2014 accounted for 6.6 million tons. Asia-Pacific is a promising region for the growth of the hazardous waste management market. Rapidly growing industrialization, dense population and heavy disposal of chemical waste are collectively contributing to the market growth in this region.
The report on global hazardous waste management market covers segments such as type of hazardous waste, waste generators, and hazardous waste management services. On the basis of type of hazardous waste, the sub-markets include flammable, toxic, corrosive, infectious, radioactive, and other hazardous wastes. On the basis of waste generators, the sub-markets include small quantity hazardous waste generators, medium quantity hazardous waste generators, and large quantity hazardous waste generators. On the basis of hazardous waste management services, the sub-markets include collection, transportation, storage, waste treatment, and disposal services.
The report provides profiles of the companies in the market such as Clean Harbors, Inc., American Waste Management Services, Inc., Veolia, Suez SA, Chloros Environmental Ltd, SMS Envocare. Ltd, and Tradebe.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of hazardous waste management market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.