The new hazardous waste management market research from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Hazardous Waste Management Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the hazardous waste management market.
"One of the primary growth drivers for this market is the increase in industrial activities," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the hazardous waste management market size to grow by 190.88 million MTPA during the period 2021-2025.
Hazardous Waste Management Market Segment Highlights for 2020
The hazardous waste management market is expected to post a year-over-year growth rate of 7.51%.
Based on the application, the industrial segment saw maximum growth in 2020. The market is driven by the increase in industrial activities. Industrial waste is generated in any industrial activity and exhibits the properties of hazardous waste. US EPA agencies provide guidelines to help the potentially hazardous waste generators identify if they produce hazardous waste.
The growth of the market segment will be significant during the forecast period.
65% of the growth will originate from the APAC region.
The increasing infrastructure development projects are one of the prime factors that will facilitate the hazardous waste management market growth in APAC over the forecast period.
China and Japan are the key markets for hazardous waste management in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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The hazardous waste management market size is expected to accelerate at a CAGR of over 8% during the forecast period.
The hazardous waste management market is segmented by application (Industrial, Medical, and Others) and geography (APAC, Europe, North America, South America, and MEA).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including Avalon Holdings Corp., Averda, Clean Harbors Inc., Daniels Health, ENVIRON INDIA, Grupo Tradebe Medioambiente SL, Republic Services Inc., SECHE ENVIRONNEMENT Group, VEOLIA ENVIRONNEMENT SA, and Waste Management Inc.
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