LONDON–(BUSINESS WIRE) – Technavio’s new hazardous waste disposal market research shows positive growth in the short term as the business impact of COVID-19 spreads.
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“One of the main growth drivers for this market is the increase in industrial activity,” says a senior analyst for the industrial sector at Technavio. Market vendors should focus more on the growth prospects in the rapidly growing segments while maintaining their position in Technavio expects the hazardous waste disposal market size to increase by 190.88 million MTPA in the period 2021-2025 if the markets recover.
Highlights of the hazardous waste disposal market segment for 2020
A growth rate of 7.51% compared to the previous year is expected for the market for the disposal of hazardous waste.
Based on the application, the industrial segment saw maximum growth in 2020. The market is being driven by the increase in industrial activity. Industrial waste is generated in every industrial activity and has the properties of hazardous waste. The US EPA authorities provide guidelines that potentially hazardous waste producers can use to determine whether they are producing hazardous waste.
The growth of the market segment will be significant in the forecast period.
65% of the growth will come from the APAC region.
The increasing infrastructure development projects are one of the main factors that will fuel the growth of the hazardous waste disposal market in APAC over the forecast period.
China and Japan are the key markets for hazardous waste management in APAC. The market growth in this region will be faster than the market growth in other regions.
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The hazardous waste disposal market size is expected to accelerate by more than 8% over the forecast period.
The Hazardous Waste Disposal Market is segmented by application (industrial, medical, and others) and geography (APAC, Europe, North America, South America, and MEA).
The market is fragmented due to the presence of many established providers with significant market shares.
The research report provides information on various market vendors including Avalon Holdings Corp., Averda, Clean Harbors Inc., Daniels Health, ENVIRON INDIA, Grupo Tradebe Medioambiente SL, Republic Services Inc., SECHE ENVIRONNEMENT Group, VEOLIA ENVIRONNEMENT SA, and Waste Management Inc.
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