Market Research Future (MRFR), in its recently published research report, asserts that the global Construction Waste Management Market 2020 is expected to grow exponentially over the review period, recording a substantial market valuation of USD 32.0 billion, at a healthy 8% CAGR in the forecast period.
Drivers and Restraints
Over the past couple of years the Global Market for Construction Waste Management has seen significant growth. Construction waste management demand is expected to be driven by rising construction industry, increased renovation and remodeling, and the increasing popularity of building waste management techniques. Globally, the growth of the construction industry has led to an rise in real estate investments. Factors such as an increase in the construction of new buildings, such as industrial complexes, educational institutes, and offices, create the demand for the management of construction waste. Growth in the number of housing projects worldwide is projected to boost the demand for waste management of building, globally. Factors such as increased remanufacturing and demolition spending are expected to drive market growth. In addition, reforms and regulations implemented by governments in several countries to improve the development of their construction and real-estate industries are contributing to an increase in demand for waste management in construction.
But the environmental issues and fluctuating prices for raw materials could hamper market development. The rising customer demand from the emerging economies for construction waste management is an opportunity for market players.
Based on waste type, the global market is segmented into hazardous waste and non-hazardous waste. The non-hazardous waste segment is bifurcated into building material wastes and dredging material wastes. The segment is expected to have a higher market share in the global market for building waste management and is expected to experience the highest CAGR over the forecast period.
Based on the application, the global construction waste management market has been divided into residential and non-residential. In 2018, the non-residential segment held the largest market share in the global waste management industry and was expected to experience the highest CAGR over the forecast period.
Based on the waste management process, the global construction waste management market has been segmented as transport & disposal, job site sorting, tipping, collection & hauling, sorting, containerization, and others. The collection & hauling segment is projected to hold a more significant share of the market for building waste management due to the growing investment in the implementation of high-tech waste management aiding machines.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
Asia-Pacific dominated the global economy, led by North America, owing primarily to development in China and India’s construction industry. In addition, the growing influx of FDI into the construction industry, contributing to the growth of the Asia-Pacific construction industry, is expected to push the Asia-Pacific market to grow. Growing real estate investments and an increasing number of Special Economic Zones (SEZs) in developing countries, primarily in India, are the other significant factors driving the Asia-Pacific market growth.
Owing to the increased home improvement and renovation programs in the region, North America has seen substantial growth in the construction sector
The major market players operating in the global market, as identified by MRFR are WM Intellectual Property Holdings, L.L.C., Inc., Republic Services, IEISL, Krause Manufacturing Inc., and Kajima Corporation, among others.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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