The global industrial waste management market is expected to be a trillion dollar industry by 2019, with a projected CAGR of 8.9%, signifying a high demand for waste management services in both developed and developing countries.
Industrial waste management market is at various stages of development and opportunities are diverse across regions. In the emerging economies such as China and India, the market is tied to the rapid industrialization and urbanization activities. Government and regulatory bodies in these regions are implementing stringent regulations to effectively process and manage waste that demand effective waste management services. However, the matured markets of Europe and Americas, are striving towards a complete recycling region with an aim to recover as waste material and re-use, thereby reducing the consumption of fresh natural resources.
Collection services dominates the market
Collection services dominated the industrial waste management market and accounted for almost 60% share of the total market in 2013. This service is expected to witness strong growth because of the increased environmental awareness and a dedicated approach on the part of industry to better environmental performance. The biggest markets for collection services are Asia-Pacific, followed by Europe, Americas, and Middle East & Africa.
Key companies in the industrial waste management service market are Daiseki Co. Ltd. (Japan), SembCorp (Singapore), EnviroServ Waste (South Africa), Remondis (Germany), Clean Harbors (U.S.), Republic Services (U.S.), Suez Environn ement (France), Veolia Environnement (France), Waste Management Inc. (U.S.), Stericycle Inc. (U.S.).
Mergers and Acquisitions: Key strategy
The leading companies of market focus on the growth of their mergers & acquisitions with the key objective of serving various industry sectors with a wide geographic presence. The leading companies have been able to acquire regional/local waste management service providers in order to expand their range of operations. They are constantly focusing on the emerging regions to establish themselves as leading industrial waste management service providers.