Municipal solid waste management market in the U.S. to be driven by a supportive regulatory framework, rising number of recycling & composting services to stimulate the industry outlook
Publisher : Fractovia | Published Date : 2018-11-02Request Sample
The recurring efforts of municipalities to enhance public health and environment has been propelling municipal solid waste management market in the U.S. share over the last few years. Statistically, nearly five years before, Americans had generated approximately 250 million tons of trash out of which more than 30% of municipal waste had been recycled. The remaining solid waste however has been leading to an increase in the landfills that have raised concerns among the administrative and regulatory bodies. In line with the growing awareness about the rise in municipal solid waste, the organizations involved in environment protection have been encouraging the practices of waste disposal such as waste prevention, composting, and recycling. In this regard, most of the solid waste management companies have been investing in the development of new waste treatment technologies, that has proved to be a pivotal driving force for municipal solid waste management industry in the U.S.
Pennsylvania Municipal Solid Waste Management Market Size, By Service, 2017 & 2024 (Million Tons)
The exponentially increasing municipal solid wastes from residential, commercial, and industrial locations across U.S. has promoted the government to implement various waste management strategies. in fact, the U.S. government has deployed numerous resource conservation policies, sanitary landfill projects, and waste-to-energy projects. In addition, the government has also initiated several public health awareness programs to increase the involvement of citizens in MSW management operations including resource recovery, refuse collection, street sweeping, and transportation. The vigorous efforts put by the government as well as citizens have stimulated municipal solid waste management industry trends in the U.S. that have generated lucrative opportunities for the leading market players.
In 2017, with the constant regulatory support and surging adoption of new technologies, municipal solid waste management industry in the U.S. from recycling and composting held a valuation of USD 6 billion. The initiative to increase the conversion of trash into reusable products has helped the U.S. government better its economy by increasing the GDP. Reportedly, as per the estimates of the Environmental Resource and Education Foundation, solid waste industry has contributed a remarkable revenue and created a huge number of jobs that helped the U.S. strengthen its economic scenario.
Considering the business potential in the solid waste industry across U.S., startup companies have been looking forward to developing new waste management technologies whereas established companies have been looking forward to expanding their already existing portfolio. Waste handling equipment manufacturers have been investing in the development of high-quality, versatile, and durable product ranges. The hefty investments by the hauling companies in the development of roll-off trucks will also have a modest impact on the municipal solid waste management market size in the U.S.
Currently, the U.S. government has changed its focus toward the adoption of waste-to-energy initiatives. In fact, waste-to-energy programs has emerged as future of U.S. municipal solid waste disposable framework. The increasing use of waste-to-energy for disposing trash will result into rise in power generation and pollution control. For in record, in 2016, in U.S., approximately 14 billion KW electricity has been generated by burning nearly 30 million tons of combustible municipal solid waste, among which more than 50% electricity had been generated from biomass material. The burning reduces more than 80% of MSW volume and also leads to controlling the increasing landfills. The surging use of MSW for producing energy at waste-to-energy plants across U.S. to reduce landfills is poised to enhance municipal solid waste management market over the years ahead.
The policies implemented by the municipal governments to stimulate the reuse and composting of MSW will favorably fuel the industry growth over the years ahead. In addition, the surging use of technologies to convert non-recyclable waste into usable energy and heat will also have a significant impact on the industry outlook. For the record, municipal solid waste management market in the U.S. will generate a revenue of more than USD 25 billion by the end of 2024.
