Municipal Solid Waste Management Market Size

Municipal Solid Waste Management Market Size

Municipal Solid Waste Management Market was valued at USD 121.2 billion in 2023 and is projected to expand at more than 3.3% CAGR from 2024 to 2032.

A shift from traditional garbage dumping techniques to sustainable and innovative waste disposal models will augment industry expansion. The demand for clean energy has elevated in recent years owing to the need to limit the impacts of climate change. This has led to the utilization of waste as a source of renewable energy wherein waste-to-energy plants burn municipal solid waste (MSW) and convert it into steam which further helps generate electricity through generator turbines.

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Technological innovations in waste-to-energy generation would transform the municipal solid waste management industry. According to the U.S. Energy Information Administration, waste-to-energy plants can reduce around 2000 pounds of garbage into ash that weighs nearly 300-600 pounds. The process also lowers the volume of this waste by approximately 87%.

Lack of awareness regarding the benefits of waste management across developing nations would impact the industry to some extent. Several undeveloped countries across Africa and Asia are unaware of garbage treatment and disposal systems. As these systems require high initial investments, they are experiencing lower adoption rates across such countries. However, initiatives to spread awareness regarding the benefits of MSW management systems to improve living standards and health concerns may advocate business progression in the coming years.