The regulatory authorities have classified the hazardous waste material into explosive, radioactive, inflammable, oxidizing, infectious, poisonous, reactive or toxic in nature. Increasing scientific research on waste material for various purposes including identification of hazardous nature is adding movement to the waste management activities across the globe.
Hazardous waste management involves reducing the number of hazardous substances produced, treating hazardous wastes to reduce their toxicity along with the other hazardous environmental effects and applying sound engineering controls to reduce or eliminate exposures to these wastes.
The rapidly increasing quantity of waste across the globe is boost the demand for Hazardous waste management. Industrial waste is increasing rapidly across the globe due to rapid industrialization and urbanization in emerging economies such as China and India. The favorable government activities are supporting proper waste disposal management systems in the countries due to growing environmental and health concerns. Rapid industrialization, an increase in environmental awareness, surge in population, and the rise in urbanization foster the growth of the global waste management market.
“Global Hazardous Waste Management Market was Valued at US$ xx Bn in 2018 and it is Expected to Reach More than US$ 66.4 Bn by 2027, Likely to Grow with the CAGR of 5.8% During the Forecast Period.”
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The industrial waste segment was the largest segment, accounting for over xx % of the global share of the global hazardous waste management market in 2018 and this trend is expected to continue over the forecast period. The rapid industrialization and urbanization in emerging economies such as China and India along with the increased waste in chemical, oil, and gas industries likely to drive the hazardous waste management market.
The deep well injection method constituted a major share of the Hazardous Waste Management Market in 2018 and it is projected to grow at a significant CAGR of above xx % during the forecast period. Deep well injection systems are projected to handle a volume of above 80000 thousand tons of waste by 2027.
North America has accounted for the largest share in the global hazardous waste management market due to increasing waste disposal activities in the region and is expected to grow at CAGR of above xx % during the forecast period. The presence of major market players in the US is supporting the market growth. Furthermore, the hospitals are major generators of medical waste in the U.S., owing to the increase in the number of surgical procedures performed in these settings and longer duration of hospital stays of patients suffering from chronic diseases. Thus the increasing waste from hospitals is driving the demand for hazardous waste management in the country.
Some of the key players in the global Hazardous Waste Management Market are Veolia Suez, Waste Management, Inc., Bechtel Corporation, SMS Envocare Ltd, Waste Connections Inc., CLEAN HARBORS, INC., Stericycle Inc., Republic Services, Inc., Morgan Group, Recology Inc., Envion India, Chloros Environmental Ltd and American Waste Management Services, Inc.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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