The market for liquid waste management is expected to grow at a CAGR of around 5% globally. Major factor driving the market studied is the increasing number of water-borne diseases which resulted in increased toxicity and safety concerns globally, along with increased manufacturing activities which contains toxic chemicals thus leading to growing liquid effluent management activities. On the flip side, increasing technological challenges, stringent waste processing regulations and unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- The residential segment is expected to dominate the source segment of the global liquid waste management market owing to increasing water utilization per household thus resulting in increased wastewater generation.
- North America region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to enactment of stringent norms pertaining to management of liquid waste.
Key Market Trends
Increasing Number of Water Borne Diseases Resulting in Increased Toxicity and Safety Concern
- The increasing rates of water-borne disease globally demand more liquid waste and wastewater treatment activities. For instance, The WHO/UNICEF Joint Monitoring Programme Report 2017 states that in 2015, 29% of the global population lacked safe drinking water service.
- Development of new industries for satisfying the rising consumer needs resulted in a significant rise in wastewater generation globally. The liquid waste being disposed of from industrial and manufacturing units holds toxic materials. Thereby, increasing the demand for liquid waste management activities.
- Factors such as budding socioeconomic awareness regarding limited natural resources, coupled with implementation of regulations promoting enhanced management techniques, are expected to foster the demand for liquid waste management services.
Increasing consumer awareness regarding the benefits of effluent disposal and recycling is expected to positively impact the industry growth.
- The market is governed by stringent regulations imposed by several federal, state, and local government, which is expected to propel market growth over the projected period. Companies operating in liquid effluent management services have to abide by the regulations, such as the clean water act (CWA), waste management act, and other framework directives.
North America Region to Dominate the Market
- North America region represents the largest market and is also expected to be the fastest-growing market over the period owing to enactment of stringent norms and presence of major liquid waste management providers in the region.
- The growth is driven mainly by United States, owing to penetration in residential, commercial, and industrial segments driven by stringent environmental and disposal regulations in the country. In addition, rising footfall in the commercial spaces, including supermarkets, shopping malls, and hotels, is expected to drive the market.
- The liquid waste management market is very well regulated by agencies like Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Several laws including Environmental Protection Act, 1993 mentions guidelines to be carried out by companies including undertaking Environmental Impact Assessment (EIA) and preparing Environmental Impact Statement (EIS).
- Due to the aforementioned factors, the demand for liquid waste management is expected to increase in the region during the forecast period.
The Global Liquid Waste Management Market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Suez, Veolia, CLEAN HARBORS, INC., Covanta Holding Corporation and WM Intellectual Property Holdings, L.L.C. and among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support