The global hazardous waste management market is estimated to grow at a CAGR of 7% during the forecast period. High e-waste generation and government initiatives to control hazardous waste are also significantly driving the growth of the market. Additionally, growing waste generation has made it primarily important for waste management officials to develop effective strategies to manage hazardous waste safely and cost-effectively which is expected to contribute to the growth of the market in the near future. Due to growing hazardous waste which includes inflammable, explosive, oxidizing, infectious, radioactive, poisonous, reactive or toxic waste; health concerns are reported to increase among humans and animals. Therefore, governments are making an arrangement by procuring waste disposable techniques and equipment, thus, supporting the market across the globe.
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The development of hazardous waste management such as blockchain would provide substantial opportunities to the market. The introduction of the blockchain technology in the tracking of hazardous material and waste offers better management of hazardous waste. There are several waste enterprises that have seen the possible prospects of integrating blockchain technology. The blockchain technology offers several applied explanations in waste management such as the process of monitoring, setting-up amount, running costs and others. There are several companies such as Recereum, SwachhCoin, and others that are implementing this technology and provide cryptocurrency coins and innovative applications to deal with waste management.
Global hazardous waste management market is highly fragmented in nature with several market players operating and providing hazardous waste management solutions across the globe. Key hazardous waste management solution providers are Stericycle Inc., Waste Management Inc., Veolia Environnement S.A., Covanta Holding Corp., and Clean Harbor Inc. These five players are estimated to generate significant revenue of the total hazardous waste management market, contributing more than 10% in the global market in 2018. These market players adopt various strategies to survive and strengthen their base in such a competitive environment. Some of the strategies that are majorly being adopted include products and services offering expansion, mergers & acquisitions, partnerships, and collaborations among others.
Current Market Trends Covered in the market report:
The Report Hazardous Waste Management Market – Segmented by Service Type and Waste Type
Global Hazardous Waste Management Market by Service Type
Global Hazardous Waste Management Market by Waste Type
The Report Hazardous Waste Management Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World