GCC Municipal Waste Management Industry to Achieve USD 63.25 Billion by 2024 with 6.2% Annual Growth Rate
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.
Explore the Complete Municipal Waste Management
Market Analysis Report – https://www.marknteladvisors.com/research-library/gcc-municipal-waste-management-market.html
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
- What are the industry’s overall statistics or
estimates (Overview, Size- By Value, Forecast Numbers, Segmentation,
Shares)?
- What are the trends influencing the current
scenario of the market?
- What key factors would propel and impede the
industry across the region?
- How has the industry been evolving in terms of
geography & solution adoption?
- How has the competition been shaping up across
various countries?
- How have buying behavior, customer
inclination, and expectations from product manufacturers been evolving
during 2019-30?
- 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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