Wet Waste Management Global Market – Overview
The Global Wet Waste Management Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Wet Waste Management will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2023).
Wet waste refers to the organic waste, usually heavy due to dampness. Wet waste can be segregated as biodegradable and non-biodegradable. Wet waste management is the process of composting the waste for use as manure, biogas etc.
The global wet waste management market is expected to grow at a CAGR of ~ 5% during the forecast period (2016-2023)
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The global wet waste management market is majorly driven by the rising awareness for wet waste management. The market is also driven by the introduction of new wet waste management technologies such as the waste to energy solutions. Awareness for environmental sustainability and increase in the use of eco-friendly fuels in the residential and commercial segments, are contributing to the growth of the market. Rise in government initiatives for spreading wet waste management awareness, is further expected to propel the market growth. However, the growth of this market is restrained by lack of participation from industries and sectors such as commercial, food & beverage, and healthcare. Lack of treatment plants and landfill sites is also projected to hamper the growth of the global wet waste management market over the forecast period.
Food waste is processed vie Anaerobic Digestion to produce sustainable energy. This is a natural process where plant and animal materials (biomass) are broken down by micro-organisms in the absence of air. Naturally, occurring micro-organisms digest the biomass which releases a methane-rich gas that can be used to generate renewable heat and power. This helps cut fossil fuel use and to reduce greenhouse gas emissions. The essence of the wet waste management industry has emerged to become much more than just removing waste. The organic waste is segregated from non-recyclable and inorganic waste. This allows cities to make use of organic waste to create compost for public areas. There are even some cities that package and sell the compost to make money. These items can be reprocessed and recycled and will be used in producing new products. This method has helped reduce further consumption of natural resources and at the same time lowers the ultimate needs for waste disposal.
With the abundance of waste specifically in developing regions provides ample opportunities for the waste management industry as a whole to register high growth rate during the forecast period. Wet waste management industry specifically with rapidly rising construction projects across the globe is expected to prosper for a prolonged period.
While wastes such as reusable plastic or organic waste can be of some benefit, waste like hazardous metals and glass cannot be recycled and thus has to be disposed off into far off places. Waste segregation makes this process easier and less cumbersome. This way, the organic waste can be used in the form of a compost or making bottles and non-usable waste can be transported into areas on the outskirts of the city and buried deep inside or can be burnt in order to reduce pollution and damage caused to the environment.
Below are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Wet Waste Management Market
- Clean Harbors Inc. (U.S.)
- SUEZ Environment Co. S.A. (France)
- Veolia Environment S.A. (France)
- Republic Services Inc. (U.S.)
- Waste Management Inc. (U.S.)
- Republic Services Inc. (U.S.)
- Covanta Energy Corporation(U.S.)
- Advanced Disposal Services Inc. (U.S.)
- Stericycle (U.S.)
- Progressive Waste Solution Ltd. (Canada)
The global Wet Waste Management market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. In addition, in-house research and development capabilities, global footprint network, material offerings, R&D investments, and strong client base have become the key areas to gain an edge over the competitors.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Wet Waste Management services, in order to survive and succeed in an intensely competitive market environment.
The vendors with better technical and financial resources can develop innovative products that render the competitors’ products obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors have to develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market. The competitive environment in the market is likely to intensify further due to an increase in product/service extensions, technological innovations, and M&A.
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Wet Waste Management Market – Segmentation
The Global Wet Waste Management Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
by Waste Type: Comprises Food Scrap, Agricultural Waste, Medical Waste, Others.
by Service & Equipment: Comprises Collection & Transportation, Processing, Disposal
by Source: Comprises Industrial, Commercial, Medical and Others
by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Wet Waste Management Market: Regional Analysis
The global wet waste management is majorly fragmented into four regions namely North America, Europe, Asia Pacific, and Rest of the World. Among these, Asia Pacific is anticipated to grow at highest CAGR and hold the largest market share in the global wet waste management market. The growing awareness for wet waste management of the region with forthcoming advanced new technologies such as waste to energy solution, also the growing utilization of eco-friendly materials and increasing ecological sustainability concerns, improved economic conditions of major emerging nations. All these factors are majorly contributing towards the evolution of the wet waste management market in Asia Pacific region.
Europe held the second largest market share in 2016. The market for wet waste management is primarily driven due to the increasing government initiatives and support schemes to promote waste management. All the major countries in Europe have sponsored various private players in the waste management through their municipal commission at the city level to promote health and hygiene benefits across the population. North American countries are practicing wet waste management techniques from the last few decades and are expected to witness the same stagnant growth over the forecast period. The U.S. and Canada are the prominent countries, which are immensely concentrating on promoting wet waste management at an extensively level to obtain compost for farms and biofuels as transport fuels.
Table of Content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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