Global wet waste management is expected to be valued at over USD 130 billion by 2022. The market is expected to witness a CAGR of over 5% from 2015 to 2022. Stringent waste management regulations by regional bodies such as EPA and European Commission are expected to drive the wet waste management demand over the forecast period.
Industrialization in emerging economies, mainly Asia Pacific countries such as India, China, Japan, Taiwan, and South Korea, is not only leading to the development of chemical, healthcare, oil & gas, food, medical, and automobile industries but is also emerging as a major source of noxious wet waste generation.
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Increase in job opportunities in urban areas is shifting population from rural and remote locations towards industrialized and urban locations. Therefore, with the rise in urban population, global industry growth is also expected to drive in future.
Government initiatives to spread waste management awareness through various programs, advertisements, and social networking sites is also an important factor, which is gaining importance globally and is expected to enhance the overall market over the forecast period.
Developing waste-to-energy solutions are expected to further enhance the global industry demand by simplifying the process implementation. Lack of participation from industry participants and other sectors such as commercial, healthcare, and food is expected to restrain overall industry growth over the forecast period.
Very few treatment plants are present for wet waste processing as compared to the amount of waste being generated globally. This waste amount is expected to drastically increase over the forecast period. Therefore, there is a need for high number of treatment plants to match the waste amount.
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Such a factor is expected to hinder the overall industry demand in future. In addition, lack of landfill sites is another factor, which is expected to establish as a major market challenge over the forecast period
Global industry is segmented on the basis of service, process, type, and source. Service segment includes disposal & landfill, sorting, collection & transportation, processing, and storage. Sorting is further segmented into sorting equipment, which includes balers, compactors, and shredders.
Collection and transportation consist of equipment such as garbage trucks. Processing also includes processing & disposal equipment such as precipitator, crusher, scrubber, gas storage equipment, combustor, digester, separator, and sludging machine.
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