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U.S. Municipal Solid Waste Management Market is driven by increasing population on account of significant surge in the number of foreign immigrants

Author : Ronak Bora | Published Date : 2019-03-14 

U.S. Municipal Solid Waste Management Market will grow on account of rising environmental concerns along with ongoing development of effective waste treatment technologies. In addition, upsurge in domestic waste generation on account of rapid urbanization will positively enhance the business outlook. In 2015, more than 80% of the countrys population was inhabited in urban cities as compared to 75% in 1990. Growing population size on account of increasing number of foreign immigrants across the region will foster the municipal solid waste management market. As per the EPA, during 1960-2016, the population across the region has witnessed a rise of over 75% of which over 40 million were foreign immigrants.

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Increasing domestic consumption pattern with rising purchasing power will significantly accelerate the U.S. municipal solid waste management market. As per Bureau of Labor Statistics average annual expenditures per consumer for 2017 was valued over USD 60,060 which is 4.8% increase from 2016 level.

The remuneration graph of U.S. municipal solid waste management market has witnessed a phenomenal escalation in the past decade, owing to myriad economic & environmental advantages of effective waste management. The burgeoning challenges of solid waste due to tremendous surge in the population in the United States have further compelled the industry players to bring forth innovative, sustainable, and cost-effective approaches of MSW across the country. It has been reported that in general, the waste generation is higher during the strong economic growth of the country and therefore effective solid waste management network forms a significant factor driving the GDP.

Growing consumption across residential establishments on account of increasing purchasing power will fuel the U.S. municipal solid waste management market size. In 2017, the average annual expenditure per consumer stated by the Bureau of Labor Statistics was approximately worth USD 60,060 which witnessed an increase of 4.8% in comparison of 2016.

Ongoing adoption of optimized trash treatment techniques along with increasing environmental concerns will accelerate the U.S. MSW management market size. Increasing waste generation owing to large scale urbanization will further stimulate the industry growth. As of 2015, over 80% of the country’s total population was residing in the urban areas which was previously 75% in 1990.

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Recently for instance, Atlanta regulation agencies has deployed smart phones with waste management application in over 89 sanitation trucks & other vehicles as part of a MSW management pilot program. The use of the application to track truck routes lead them to evenly distribute and take efficient routes to the appropriate landfills and recycling facilities. With further governmental norms encouraging sustainable trash management, New York recycling & composting municipal solid waste management market is another lucrative region garnering hefty proceeds. Estimates claim the U.S. municipal solid waste management market.  from New York to exceed a valuation over USD 450 million by 2024, owing to the influence of region’s rising population base residing in the urban areas and flourishing tourism industry leading to growing investment in waste management infrastructure.

These above-mentioned trends significantly shed light on the progressive outlook of the U.S. municipal solid waste management market in the recent years. However, it wouldn’t be wrong to say that China’s ban on import waste has rocked the global solid waste management and recycling industry to gear up for managing their own waste and recycling efforts. It remains to be seen that how the U.S. municipal solid waste management industry will cope with the sudden change in policies as these new accumulating waste loads incur increasingly high rates in managing and recycling waste. Nonetheless, experts believe that as the export market for waste product dries up, the U.S. municipal solid waste management industry will be seen desperately recovering, recycling, and reducing the waste, while surpassing the overall remuneration portfolio of over USD 25 billion market by 2024.

Key industry participants include Covanta Holding, The CP group, Hi Temp Technology, Stericycle, Green Conversion, E.L. Harvey & Sons, Xcel Energy, Recology, Wheelabrator, Clean Harbors, Sims Metal Management, Waste Connections, Veolia, Suez Environment, The Hoskinson, Hitachi Zosen, SR20 Holdings, and John Wood.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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