The growing global focus on making the earth clean and green has fostered stringent regulations for better waste management in several countries. Also, an increasing awareness regarding the benefits of e-waste management and waste segregation should drive the demand for services offered by prominent waste management companies Waste Management (NYSE:), Republic Services (NYSE:), and Clean Harbors (NYSE:). As such, we think these stocks could deliver solid returns. Read on.Despite a reduction in commercial waste volumes amid the COVID-19 pandemic because of widespread closures of offices, restaurants, and other business establishments, higher residential waste volume helped the waste management industry remain resilient. Furthermore, with the speedy progress made by COVID-19 vaccinations and the reopening of factories, malls, and other infrastructures, the industry should witness substantial growth in the coming months. Indeed, the global waste management industry is expected to hit $542.7 billion by 2026, registering a 5.1% CAGR.
The use of advanced technologies for e-waste collection and recycling should drive the growth of waste management companies. And the efforts of governments worldwide in boosting awareness related to waste segregation and in implementing stringent regulations for environmental protection should further propel the industry’s growth.
Given this backdrop, we think it could be wise to bet on quality waste management stocks Waste Management, Inc. (WM), Republic Services, Inc. (RSG), and Clean Harbors, Inc. (CLH).
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