Municipal Waste Management in GCC Set to Hit USD 63.25 Billion by 2024, Growing at 6.2% CAGR

The GCC Municipal Waste Management Market size is valued at around USD 63.25 billion in 2024 and is anticipated to grow at a CAGR of around 6.2% during 2024-30, cites MarkNtel Advisors in their recent research report. The process of collection, transportation, and disposal of garbage, sewage, and other non-hazardous waste generated in cities is called Municipal Waste Management. The municipal waste includes waste from metals, paper & paperboard, food, plastic, and other organic waste. There are different methods to manage waste, that includes landfills, waste incineration processes, recycling, and open dumps. The types of technologies used in waste management are sorting, recycling, waste management, and smart waste management solutions.

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Key drivers augmenting the growth & expansion of the market include the growing urban population and the increase in municipal waste. The rapid urban development and the increasing population of popular cities in the region like Riyadh and Dubai, create the demand to find effective ways for municipal waste management. Along with it, the increasing rules and regulations imposed by the governments in the region to achieve the goal of a sustainable environment and promoting the activities related to recycling and circular economy are expected to further expand the market in the coming times.

However, the process of waste collection from the scattered waste sources and in heterogeneous ways from the cities is labor intensive and makes the collection process difficult. The initial costs are also higher in the setup of plants for the development of new and advanced technologies for waste collection. Other than this there is a trend going on in the region that focuses on “waste-to-value” strategies which is a step towards an integrated waste management system that includes the process of recycling and waste-to-energy activities, is another aspect fuelling the demand for municipal waste management across the GCC countries, further states the research report, “GCC Municipal Waste Management Market Analysis, 2024.”

GCC Municipal Waste Management Market Segmentation Analysis

Paper & Paperboard Segment Holds the Largest Market Share

Based on the waste type, the market is further bifurcated into paper and paperboard, metal, plastic, food, organic waste, and others. The paper & paperboard waste type held the largest share of the GCC Municipal Waste Management Market in recent times and is also expected to hold the same in the forecast period. The growing use of paper and paperboards in the region is driving the growth & development of the market. Further, with the increasing awareness among the public and governments regarding sustainable waste management, governments are providing funding to find and create recycling solutions for cutting-edge paper waste, which is anticipated to fuel the growth of the market.

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Saudi Arabia to Lead the Municipal Waste Management Industry

The largest share over the forecast period is expected to be held by Saudi Arabia in the GCC Municipal Waste Management Industry. The waste management market in the region is driven by high investments in renewable energy projects. Also, Saudi Arabia is the largest country among all GCC nations by both population and area. And, the waste generated and managed here is also generally higher. The trash generated through soil and groundwater is the majority of all trash produced, and the three cities, Riyadh, Jeddah, and Dammam are the major contributors of waste in the region. Therefore, in this country, there are a lot of opportunities for market players to grow & expand their business operations.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Averda, Veolia Middle East, Bee'ah, Blue LLC, Enviro Serve, Suez Middle East Recycling, Envac, Dulsco, Al Haya Enviro (Qatar), Tadweer, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various countries?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

 

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