Mar 26, 2019 (MARKITWIRED via COMTEX) -- VALLEY COTTAGE, NewYork, March 26, 2019 /MARKITWIRED/ –The rapid increase of non-hazardouswaste arising from the considerable economic growth of developing nationscoupled with the use of new procedures of recycling, and innovations in wastecollection is generating the demand for optimized waste management services.Moreover, increasing number of government initiatives towards reduction ofemissions and environment pollution will continue to drive the adoption ofwaste management solutions in the future. These insights have been extractedfrom a recentmarket research report by FutureMarket Insights that provide reliable intelligence on the global scenarioof the global wastemanagement services market.
As per the report, the complete automation of wastemanagement services is still far from becoming a reality. However, theincreasing use of data analytics, dynamic visual graphics, and automatedsorting have already been introduced in the market by service providers such asWaste Management Inc. and Advanced Disposal Services.
"Concerns overenvironmental pollution, and rapid expansion of urbanized areas that areboosting the development of industrial activities, are key factors that aredriving the demand for waste management services. Moreover, the high rate ofpopulation growth generates a vast amount of waste, originating fromhouseholds. This has generated interest in the area of circular economies,which are incorporating digitalization, and prioritization of renewableresources, through increased transparency between end-user organizations." Senior Analyst, Future Market Insights.
The FMI study while projecting positive growth for wastemanagement service providers, challenges such as the need for large financialinvestments, high installation costs, limited waste management infrastructure,and low budget allocation to the field by governments and customers ofdeveloping countries, are expected to offset the benefits to an extent.
FMI provides readers with detailed insights on the globalwaste management services market, on the basis of collection, storage,transport, sorting, recycling, composting, and landfills.
Request a samplereport copy with table of contents: https://www.futuremarketinsights.com/reports/sample/rep-gb-255
Strong Demand for Waste RecyclingServices in Asia Pacific; Service Providers Move towards Zero Waste andCircular Economy Strategies
The global wasterecycling services market is estimated to display favorable growth rates,particularly in the Asia Pacific, owing to shifting of major production unitsof recycling equipment, from western nations to Asia Pacific, with lower laborcosts. With an estimated CAGR of around 2%, the demand for waste recyclingservices is expected to stay high in this region. On the other hand, fasteraccess to AI and other technologies to the west is a key factor that is expectedto constrain the local Asia Pacific market.
The global waste recycling services market is increasingly showing a shift towards consolidation by merger and acquisition activities. Key players such as Northstar Recycling, Rubicon Global, Eurokey Recycling Ltd., Waste Management Inc., and Waste Connections are competing for global leadership. While the strategic collaborations is expected to continue as a key strategy for competitors in the market, increasing investments in research for new technologies, and expansion of services into developing countries is anticipated to play a major role in the future of the waste recycling service providers.
For additional information on the various other facets of global fire trucks landscape, reach out to the team of expert analysts at press@futuremarketinsights.com
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