Waste Management Market to Garner Brimming Revenues by 2026 | Waste Management, Veolia, SUEZ

Waste Management Market New Revenue Pockets:

The global waste management market size is projected to reach USD 542.7 billion by 2026 from an estimated value of USD 423.4 billion in 2021, growing at a CAGR of 5.1%. Stringent regulations of governments worldwide for better management of waste and initiate environmental protection; strong focus of several governments to conduct awareness programs showcasing importance of waste segregation and waste management; technological advances and shortened life cycle of electronic products help in increasing e-waste are the key factors driving the waste management market.

The waste management market is dominated by major players that are established brand names with an extensive regional presence, along with many local and regional players in emerging economies. The key players in the waste management market include companies such Waste Management (US), Veolia (France), Republic Services (US), SUEZ (France), and Waste Connections (US).

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The e-waste segment by waste type is estimated to be the largest market for waste management, from 2021 to 2026. The growth of the wired segment is driven by the rapid urbanization, transforming urban mobility, and increased need to reduce carbon emissions. The market for the e-waste segment in Asia Pacific is expected to grow at the highest CAGR during the forecast period. E-waste includes electrically powered component waste. They include appliances such as computers, consumer electronics, and refrigerators. E-waste is a mixture of useful and hazardous materials that demand careful handling and recycling of materials. Thus, e-waste management has gained importance globally to secure the environment from the adverse effects of the materials such as lead and plastics.

Based on service type, the recycling segment is expected to grow at the fastest CAGR from 2021 to 2026. The growth of this segment is driven owing to high essentiality to reduce greenhouse gas emission. Recycling, recovery, and reprocessing of waste materials are useful to produce new products. The basic phases in recycling are the collection of waste materials, their processing into new products, and purchasing of those products, which may then themselves be recycled. Typical materials that can be recycled are iron and steel scraps, aluminum cans, glass bottles, paper, wood, and plastics. The materials reused in recycling serve as substitutes for raw materials obtained from such increasingly scarce natural resources as petroleum, natural gas, coal, mineral ores, and trees. Recycling can help reduce the quantities of solid waste deposited in landfills, which has become increasingly expensive. Recycling also reduces the pollution of air, water, and land, resulting from waste disposal. Recycling helps reduce energy usage, decrease the amount of new/fresh raw materials, and minimize greenhouse gas emissions.

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The residential segment is estimated to account for the largest share of the waste management market in 2020, and this trend is expected to continue during the forecast period. Ever-increasing population and significant solid waste generation to drive demand for waste management services from residential segment. Waste generated from residential end users can be used for generating energy through waste-to-energy plants by burning solid waste to produce steam in a boiler and can also be is used to generate electricity.

The waste management market has been segmented, by region, into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific region is projected to grow at the fastest rate, from 2021 to 2026, followed by Europe. The region has been segmented, by country, into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Rest of Asia Pacific mainly includes Singapore, Malaysia, Thailand, and Indonesia. The population growth in the region, the high disposable income of the people, and the increased demand for packaged food products are among a few major factors that drive the growth of waste management in the region. Asia Pacific is also a key contributor to marine plastic pollution. The materials involved include plastic bottles, plastic bags, single-use plastic items, and plastic packaging, among others. Key countries responsible for this kind of pollution include China, Indonesia, and Thailand.

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In addition, the rise in well-being and prosperity of urban residents is linked closely to increased consumption and production patterns with consequences for waste streams. Increased municipal solid waste is particularly noticeable in low- and middle-income countries. In these countries, the rate of waste generation has risen quickly and is expected to accelerate over the next decade and beyond. According to the United Nations’ Economic and Social Commission for Asia and the Pacific (UNESCAP), between 50% and 65% of municipal solid waste in low- and middle-income countries is organic and can be turned into high-quality compost for use in agriculture, gardening, or landscaping or converted to biogas to produce heat and electricity. There are also significant opportunities for recycling inorganic materials, such as glass, plastic, and metal. Moreover, the manufacturing of new glass‐based materials also has an ultimate opportunity for open‐loop recycling and has more environmental benefits than that of landfilling. Between 25 and 35% of municipal solid waste is recyclable inorganic waste; this proportion will increase over the coming decades with further development of countries, leading to rising demand for waste management.

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Power Quality Equipment Market 2021: key players, growth and demand drivers to 2026

Global Power Quality Equipment Market Overview:

The power quality equipment market is projected to reach USD 46.1 billion by 2026 from an estimated USD 32.4 billion in 2021, at a CAGR of 7.3% during the forecast period. Reducing overall carbon footprint from electrical devices by improving power quality and maximizing financial costs and energy savings are the key factors driving the growth of the power quality equipment market. The worldwide increase in adoption of smart grid technologies and the integration variable renewable energy with power grids are expected to offer profitable opportunities for the power quality equipment market during the forecast period.   

Key Market Players:

Some of the key players are Siemens (Germany), ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), and General Electric (US).  The leading players are adopting various strategies to increase their share in the power quality equipment market.

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The power quality equipment market in Asia Pacific is projected to be the fastest growing market at during the forecast period. The market in this region has been studied for China, Japan, India, and the Rest of Asia Pacific (South Korea, Australia, Thailand, Vietnam, and Malaysia). The power quality equipment market in Asia Pacific is dominated by China and India. The surging demand for electricity and the growing requirement to increase renewable power generation capacity encourage utilities in these countries to invest in transmission and distribution infrastructures. Asia Pacific is expected to invest USD 9.8 billion in developing smart grid infrastructures from 2018 to 2027. In addition, the development of smart grids in countries such as China, Japan, South Korea, and India is supported by regulations that either encourage or mandate their development. The growth of the market in this country is driven by the increasing investments in transmission and distribution infrastructures and the growing adoption of renewable energy in China.

The power quality equipment market, by phase, is segmented into single phase and three phase. The three phase segment is projected to lead the power quality equipment market from 2020 to 2026. Three-phase power quality equipment are used in utilities, along with industrial and transportation sectors since three phase is commonly used by consumers globally.

Based on equipment, the power quality equipment has been segmented into surge arresters, surge protection devices, harmonic filters, power conditioning units, power distribution units, uninterruptable power supplies, synchronous condensers, voltage regulators, digital static transfer switches, static VAR compensators, solid oxide fuel cells, isolation transformers, and power quality meters. The uninterruptable power supplies segment accounted for the largest share of power quality equipment market in 2020. These supplies provide stable and reliable power to critical safety-related loads such as emergency lights and medical equipment, reduce or avoid production losses, minimize or eliminate production damage, avoid product or facility damages, and reduce or avoid electricity-using equipment damages.

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Based on end user, the power quality equipment market has been segmented into industrial and manufacturing, commercial, utilities, transportation, and residential. The industrial and manufacturing segment is projected to hold the largest market size of the power quality equipment market from 2021 to 2026. The growth of this segment is driven by rise in demand for uninterrupted power supply to machines used in manufacturing and process industries as any interruption or breakdown can result in significant losses due to the loss of production time. Utilities are the key consumer of power quality equipment owing to the fact that the sheer size of electrical networks operated by utilities is larger than the industrial and transportation electric infrastructures.

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Smart Ports Market 2026 Expected to Rise at A Higher CAGR Value, Driving Factors, Sales and Revenue

The smart port market is projected to reach USD 5.1 billion by 2026 from an estimated USD 1.7 billion in 2021, at a CAGR of 23.9% during the forecast period. Increase in dependency on real-time data to increase port efficiency and the growing adoption of digital technologies by seaports are key factors driving the growth of the smart port market. Upgradation and expansion of existing ports to smart ports and adoption of IoT, Artificial Intelligence and Blockchain, are expected to offer profitable opportunities for the smart port market during the forecast period.  

The smart port market in Asia Pacific is projected to be the fastest-growing market during the forecast period. The market in this region has been studied for China, Japan, India, and the Rest of Asia Pacific (South Korea, Australia, Thailand, Vietnam, and Malaysia). The smart port market in Asia Pacific is dominated by China. The growing trade volumes and need to reduce the carbon emission from maritime activities are to attract investment in smart port infrastructure development projects in this region. In terms of port development, the ports in the region have grown in tandem with the economic development of most countries and cities, reflecting the region’s recent rapid economic growth. Asia Pacific is one of the fastest-growing economies in the world due to numerous factors such as international divisional manufacturing, global supply chains, low production cost and each country’s export-led development policies. This has translated into the increasing volume of cargo moving from this region. As major cargo transportation happens through sea routes, owing to which the number of ports in Asia is increasing every year, and the existing ports are witnessing expansion. Automation, informatization, streamlined work processes, implementation of new equipment, and staff training are all part of the plan to increase the efficiency of existing port facilities in the region.

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The smart port market, by technology, is segmented into process automation, IoT, artificial intelligence (AI), and blockchain. The process automation segment is expected to have the largest share as it is a basic technological need to increase efficiency and convert port operations into smart ones. Process automation includes the use of robotics & computers for automating port operations. It also includes the integration of sensors, networks, standards, augmented intelligence, and augmented behavior into the process. This helps in reducing the labor cost and improving the overall process efficiency in port operations. Currently, many ports have autonomous vehicles that carry containers without human intervention.

Based on element smart port market has been segmented into terminal automation & cargo handling, port community system (PCS), traffic management system (TMS), smart port infrastructure, and smart safety & security. The smart port infrastructure segment is projected to lead the smart ports market from 2021 to 2026. It is the most intensive aspect of developing any port into a smart port. With the rise in global trade, it has been observed that the size of vessel and cargo volumes have increased, which has impacted the seaports in terms of managing the operations. Ports are therefore increasing the adoption of smart solutions that will help optimize operations, promote efficiency, and reduce logistics costs without requiring major investment in new infrastructure and equipment. Hence, increasing trade via ports around the world has created a need for investments in the modernization of port infrastructure.

Based on throughput capacity, the smart ports market has been segmented into extensively busy ports, moderately busy ports, and scarcely busy ports. The extensively busy ports segment accounted for the largest share of smart ports market in 2020. Extensively busy ports handle a capacity of more than 18 million TEU per year. Some of the extensively busy ports are in China, Singapore, and South Korea, as they act as a major corridor for trade. These ports comprise smart infrastructure, with high investments in port elements such as terminal automation, cargo handling, port community systems, energy efficiency, environment concerns & waste management, and safety & security.

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Based on port type, the smart ports market has been segmented into seaport and inland ports. The seaport segment is expected to dominate the smart ports market during the forecast period. A seaport is an important interface in the supply chain between sea and land transportation and a component of freight distribution as it acts as the entry point for various products and passengers to a country, as well as the exit door to all the exports to the international markets. Smart technologies are deployed at seaports to support the necessary seaport infrastructure. For instance, smart sensors help port authorities and terminal operators track, operate, and maintain the physical infrastructure and facilities. Smart sensors also help to monitor the condition of vital infrastructure, assisting operators in scheduling predictive maintenance and reducing the need for annual inspections. The data collected from sensors is used by port operators for cargo handling, as well as to ensure fewer emissions.

 

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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