NEW YORK, Jan. 14, 2019 /PRNewswire/ -- About this marketThe increasing development of measures to control illegal movement of hazardous waste to drive growth in the market. Improper management of hazardous wastes has negat ive impacts on the environment, particularly the quality of land and water. Thus, effective regulation of hazardous waste disposal and management is required at the international level. Technavio's analysts have predicted that the hazardous waste management market will register a CAGR of close to 8% by 2022.
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Market Overview
Owing to the rise in consumer spending, the demand for consumer electronics and automobiles has increased globally. Hence such growth in the industrial activities is expected to drive the globalHigh cost involved in hazardous waste managementThe potential risk of hazardous wastes depends on its volume, characteristics, and the way the wastes are disposed of and treated. With strict regulations coming up pertaining to the efficient management by hazardous waste, new processes, technologies, and techniques have been adopted by service providers. Such requirements lead to an increase in c omplexities and higher costs of treatment.For the detailed list of factors that will drive and challenge the growth of the hazardous waste management market during the 2018-2022, view our report.
Competitive LandscapeThe market appears to be fragmented and with the presence of several companies including Veolia and Waste Management the competitive environment is quite intense. Factors such as the increasing development of measures to control illegal movement of hazardous waste and the increase in industrial activities, will provide considerable growth opportunities to hazardous waste management manufactures. CLEAN HARBORS, Republic Services, Sharps Compliance, TRADEBE, Veolia, and Waste Management are some of the major companies covered in this report.
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