Construction and demolition waste management comprises monitoring, collecting, recycling, transporting, and disposing of the waste generated during the construction, renovation, rehabilitation, and demolition of buildings and other infrastructure. It reduces and reuses waste materials, such as concrete, soil, wood, glass, plastic, cardboard, and metal, during construction activities. It requires commercial facilities for sorting, treating, and filtering these materials for further usage and decomposition. As a result, it is gaining traction in the construction industry across the globe.
What is the size of the construction and demolition waste management market?
The global construction and demolition waste management market size reached US$ 224.7 Billion in 2022. Looking forward, the market expected to reach US$ 301.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.81% during 2023-2028, According to the new market research report by IMARC Group.
Construction and Demolition Waste Management Market Trends :
The increasing construction activities in the residential, commercial, and industrial spaces represent one of the major factors positively influencing the demand for construction and demolition waste management solutions around the world. It can also be attributed to rapid urbanization and inflating income levels of individuals. Moreover, the growing number of roads, flyovers, bridges, and buildings undergoing repair is driving the market. The rising number of renovation and remodeling projects of homes, hotels, offices, shopping malls, airports, and educational institutions is also contributing to the market growth. In addition, the growing demolishing activities of unauthorized buildings and weak foundations are catalyzing the demand for construction and demolition waste management solutions worldwide.
The increasing investments in the development of smart cities by governments of numerous countries are also fueling the market growth. Apart from this, due to rising environmental concerns, governments of numerous countries are undertaking initiatives to promote the adoption of sustainable construction materials and reduce carbon emissions. Several non-governmental organizations (NGOs) are actively supporting the decisions of governing agencies by spreading awareness about the harmful impact of growing waste volume. This, in turn, is propelling the market growth. Governing authorities of numerous countries are also taking initiatives to eliminate illegal disposal and reuse of waste materials and incorporate a complete waste management plan prior to any construction activity. These agencies are encouraging the recycling of recoverable construction and demolition materials that are produced every year. This, in turn, is providing a thrust to the market growth.
Furthermore, there is an increase in the integration of artificial intelligence (AI) and the internet of things (IoT) based devices, such as robots, to sort and segregate debris and demolition waste materials and provide high purity and high-value materials from the mixed construction and demolition waste. This is offering lucrative growth opportunities to key players operating in the industry. Besides this, extensive investments in research and development (R&D) activities are expected to create a positive outlook for the market.
COVID-19 scenario-
We are constantly tracing and assessing the impact of the COVID-19 pandemic on the industry. These influences have been covered in our report as significant market contributors.
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The report provides detailed segmentation of the global clm software market based on type, material, price, distribution channel, end user and region.
On the basis of by Business Sector, the market includes:
- Construction
- Renovation
- Demolition
On the basis of Service Type, the market includes:
- Collection
- Recycling
- Landfill
- Incineration
On the basis of Waste Type, the market includes:
- Inert
- Wood
- Cardboard
- Plastic
- Glass
- Metal
- Others
By Geography:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
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