Waste management industry forecast to surpass $560 bn by 2020

The global waste management industry is forecast to surpass $560 billion by 2020, according to Statista.com.

Development of innovative technologies and advanced waste collection solutions to enhance collection processes, as well as aid in developing a more green planet, has helped the market achieve significant growth.

In addition to technological advancements, the market also witnesses trends such as expanding medical waste management services, lack of stringent regulations in developing countries and rising government initiatives.

BioHiTech Global, Covanta Holding Corporation, Casella Waste Systems, Waste Management and Republic Services are some of the active companies in the industry.

BioHiTech Global has recently announced partnership with Kinderhook Industries, a private investment firm that manages over $2 billion of committed capital, to create a “next generation” environmental services platform company.

Through a series of transactions, the two companies completed the acquisition of Gold Medal Services, a provider of solid waste collection in the Philadelphia and Southern New Jerseymarkets.

Covanta announced on Monday that the Rookery South Energy Recovery Facility has been granted an environmental permit by the UK Environment Agency. The Rookery project, located in Bedfordshire, UK, will convert over 500,000 tons of residual waste per year into approximately 60 megawatts of low carbon energy – enough electricity to meet the needs of 75,000 homes.

Casella Waste Systems recently announced that it has acquired all of the outstanding stock of Complete Disposal Company and its subsidiary United Material Management of Holyoke, for a total consideration of up to $16.5 million.  Also, on December 29, 2017, Casella acquired the commercial and residential collection assets from a hauler in Vermont for a total consideration of up to $1.8 million.

Republic Services specializes in recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic’s collection companies, recycling centers, transfer stations and landfills focus on providing effective solutions to make proper waste disposal effortless for their 14 million customers.

Waste Management was recently recognized as a “2018 Best Companies for Millennials” by The Women’s Choice Award. The Women’s Choice Award for Best Companies to Work For is the only award that reflects the needs and preferences of women based on publicly available data, which aligns with employee and consumer appreciation for corporate transparency.

editor@greentechlead.com