The U.S. municipal solid waste (MSW) management market is expected to grow to more than $25 billion by 2024 from its current value of more than $17 billion, according to Global Market Insights’ most recent study.
According to the study, ongoing government measures aimed to develop cost-effective and sustainable trash management practices will drive the MSW management market. Additionally, increasing population is expected to stimulate the market.
Positive economic outlook accompanied by a significant surge in the gross domestic product (GDP) will augment the municipal solid waste management market size, according to the study. As of 2017, U.S. annual GDP has expanded more than $19,485,400 million, which is 2.2 percent higher than that of previous years. Key factors including rising construction and household spending, which have flourished the country’s GDP and led to better fundamentals for the MSW industry, according to Global Market Insights.
Recycling Product News has more details:
The U.S. Municipal Solid Waste Management Market is set to grow from its current market value of more than $17 billion to over $25 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Increasing population on account of significant surge in the number of foreign immigrants will stimulate the municipal solid waste management market. According to the EPA from 1960-2016, the region population has surged by over 75% from which more than 40 million are foreign immigrants.
California municipal solid waste management market was valued over 41 million tons in 2017. Government favorable measures including CalRecycle to promote the various recycling activities will uplift the business landscape over the forecast timeframe.