Waste is an inevitable by-product of the constant use of natural resources. Different kinds of waste require a varied process for its effective treatment. Hence, considering the growing waste, numerous governments and market players are taking initiatives to contribute to waste management.
According to the MarkNtel Advisors research report, “GCC Waste Management Market Analysis, 2021,” the market is likely to grow at a CAGR of around 6.25% in the forecast period of 2021-26. The prominent astronomical market growth primarily owes to the production of municipal waste, which is very likely to increase in the coming years, where the existing landfilling strategies won't take the burden. Hence, to combat the overloading waste, creating an alternative mechanism for the management is crucial.
Therefore, many market players are actively funding and introducing new strategies to eliminate the excess production of waste and manage efficiently along with the help of government regulations & schemes. It shall lead the GCC Waste Management Market to experience lucrative opportunities and lead towards massive growth in the forecast years.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||GCC: Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain|
|Key Companies Profiled||Averda, EnviroServe, Suez Middle East Recycling LLC, Green Mountains, Veolia, Blue LLC, Envac, SEPCO Environment, Saudi Investment Recycling Company, Dulsco Waste Management Services, Bee'ah, Power Waste Management & Transport LLC, Al Haya Enviro, Bin-Ovation, United Waste Management Company, Kuwait Waste Collection & Recycling Company|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19
Waste management is critical to human development and health outcomes, especially during the Covid-19 pandemic. The invaluable service provided by the waste management sector ensures that the unusual heaps of waste that pose health risks and escalate the spread of the virus are well-avoided. In this study, the impact of the pandemic on waste management is well-discussed by observing lockdown and social distancing measures.
The prime cause behind the rise of waste was the production and sales of panic buying and increasing single-use products. It further also increased plastic pollution in the environment. However, with the gradual upliftment of restrictions, the waste management plants shall resume their functioning, along with new government regulations, and enable the GCC Waste Management Market to recover from the loss.