Newark, NJ, Feb. 18, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global liquid waste management market is expected to grow from USD 89.72 billion in 2017 to USD 122.61 billion by 2025, at a CAGR of 3.98% during the forecast period from 2018-2025.
The liquid waste management market is governed by the stringent regulations imposed by several federal, state, and local government, which is expected to drive the market growth in the upcoming years. Companies operating in the liquid effluent management services, are bonded with several regulations such as waste management act, clean water act (CWA), and many others. Thus, with the increasing regulations on liquid waste management, it exhibits various opportunities for the key market players over the forecast period.
Used water from any domestic, commercial, industrial or agricultural activities and storm water is referred as waste water. Waste water can contain many undesirable elements such as chemicals, bacteria, excreta, household discharge etc. Wastewater that is discharged to the environment without suitable treatment leads to water pollution. Thus it is of paramount importance to treat the waste water.
Global liquid waste management market is expected to witness rapid growth over the forecast period, owing to growing per capita global utilization of water as well as rising demand industrial sector. In addition to this, increasing worldwide government restrictions on wastewater generation, treatment and disposal as well rising awareness among people regarding ill effects of the liquid wastewater are driving the global liquid waste management market. On the other hand technology gap between developing and developed countries and huge associated equipment cost are projected to hamper the market growth.
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Key players operating in the global liquid waste management market include Veolia Environmental Services North America Corp., Suez Environment S.A., Clean Harbors Environmental Services, Stericycle, Inc., Republic Services, Inc, Convanta Holding Corporation, Chemtex Inc, New Pig Corporation, Envirogreen, and Countrystyle group among others. To enhance their market position in the global liquid waste management market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership.
- For instance, in June 2018, Clean Harbors announced the acquisition of Veolia’s U.S. Industrial Cleaning division for USD 120 million. With this acquisition 1,400 employees will now help Clean Harbors significantly bolster industrial operations throughout the country in more than 60 locations, they specialize in hydro-blasting, tank cleaning, industrial vacuuming, chemical cleaning, total waste management programs, decontamination and transportation services.
- In January 2015, SUEZ environment S.A., broadens its position on waste management in China by signing an agreement with three Chinese partners to create a joint venture to focus on environmental remediation.
- In December 2019, Covanta Holding Corporation, a world leader in sustainable waste and energy solutions, announced the signing of a concession agreement with Zhao County, China for the construction and operation of a new Energy-from-Waste (“EfW”) facility.
Industrial segment held the largest market share of 46.72% in 2017
Source is segmented into residential, commercial and industrial. Water and other liquids are an integral parts of all the industrial manufacturing processes. Thus rapid industrialization in the past decades across the globe has led industrial segment to emerge as the largest with a 46.72% share of market revenue in 2017. Industrial companies produce both non-hazardous and hazardous wastewater. This is mainly due to their production and manufacturing systems, including wastewater that contains EPA listed and characteristic wastes. The treatment of these wastewater has become essential component for their profitable operations, driving the growth of market.
Transportation segment is anticipated to grow at a CAGR of 6.12% over the forecast period
Service segment is divided into collection, transportation and disposal. Transportation segment is anticipated to grow at a CAGR of 6.12% over the forecast period. Increasing demand for the transportation of liquid waste from storage areas to the place of disposal and recycling is driving the growth of the transportation segment. These liquid waste transported in special road tankers which are equipped with a vacuum pump. They are authorized vehicles for the transport of these liquid waste. Transportation of these liquid waste is extensively regulated by federal, state, and local agencies across the globe. The hazardous liquid waste management requires high cost for the transportation, which are contributing in the growth of this segment, over the forecast period.
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Regional Segment Analysis of the Liquid Waste Management Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. On account strict enforcement of these rules, Europe emerged as the leader in global liquid waste management market with USD 34.56 billion revenue in 2017, followed by North America. European Union has enacted very stringent and elaborate rules and regulation pertaining the collection, transportation and disposal of liquid waste materials. Thus due to strict implementation of these rules Europe led the global liquid waste management market in 2017. Asia Pacific region to grow at the highest CAGR of 6.15% in the liquid waste management over the forecasted period. Developing economies like India and China are increasingly emphasizing on reducing the overall pollution levels and improve the quality of the environment. In India, major focus is being exerted by government on the cleaning and improving the state of their rivers. For instance India in 2015, Indian government announced the launch of its ambitious program ‘Namami Gange’ to clean the river Ganga.
About the report:
The global liquid waste management market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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