1.0Market Snapshot
- 865
- Waste collection, treatment and disposal, material recovery and scrap wholesale units in 2024 (BFS STATENT, NOGA 38.11, 38.12, 38.21, 38.22, 38.32 and 46.77.02). Material recovery is the largest class with 335 units.
- 13,163
- Employees of the waste and recycling classes in 2024 (BFS STATENT), 11,721 full-time equivalents; 17% are women. Collection of non-hazardous waste employs 4,562, material recovery 4,439 and treatment and disposal 3,597.
- +8.2%
- Growth in employees of the waste and recycling classes from 2020 (12,163) to 2024 (13,163), BFS STATENT, about 2% a year; since 2011 headcount has risen 20%. The number of units hardly changed (839 in 2020, 865 in 2024).
According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 865 waste management & recycling companies — Waste collection, treatment and disposal, material recovery and scrap wholesale units in 2024 (BFS STATENT, NOGA 38.11, 38.12, 38.21, 38.22, 38.32 and 46.77.02). Material recovery is the largest class with 335 units..
2.0Industry Overview
Switzerland produced about 6 million tonnes of municipal waste in 2024, roughly 670 kg per person and three times the 1970 level, according to the Federal Office for the Environment (BAFU). 52% was collected separately and recycled — 3.1 million tonnes — and 2.9 million tonnes went to waste incineration plants. Recycling rates for beverage packaging are high: 100% for glass, 90% for cans and 84% for PET bottles, all above the legal minimum of 75%. Batteries are the weak point: their recycling rate fell to 35% in 2024 as sales of lithium-ion batteries rose.
3.0Industry Health Check (SWOT)
- Stable, regulated demand: every household and business produces waste
- Capital-intensive fleets and plants
- Circular economy rules and higher recycling targets
- Falling scrap and secondary-material prices
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Waste Management & Recycling business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 4.0 - 6.0×
- Deal Multiple (EBITDA)
- 5.0 - 8.0×
- Market Trend
- Rising
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Western Switzerland
203 waste and recycling units with 3,036 employees in 2024 (BFS STATENT), the most of any region; Cand-Landi is based in Grandson (VD).
Bern and Solothurn
127 units with 1,918 employees; AVAG Umwelt is based in Thun.
Eastern Switzerland
118 units with 2,019 employees; Müller Recycling is based in Frauenfeld and Wiederkehr has a site in Schwarzenbach (SG).
Northwestern Switzerland
114 units with 2,090 employees; Thommen (Kaiseraugst) and Voegtlin-Meyer (Windisch) are based here.
Zurich
96 units with 2,285 employees, the highest per unit (23.8); Immark (Regensdorf) and ZAV Recycling (Hinwil) are based here.
Central Switzerland
86 units with 1,147 employees.
Ticino
53 units with 625 employees. Regional totals exclude units BFS suppresses for confidentiality (797 of 865 shown).
Sources
9.0Frequently Asked Questions
▶How much is a waste management company worth in Switzerland?
ValIndex's multiples table puts Swiss waste management and recycling at 5.0–8.0× EBITDA in transactions and 4.0–6.0× EBITDA on statutory valuations. Firms with permits, owned sites and long municipal contracts sit at the upper end; scrap traders exposed to raw-material prices and firms with environmental liabilities sit lower.
▶What drives the value of a Swiss waste or recycling company?
Buyers price: (1) operating permits and owned sites; (2) duration and number of municipal and industrial contracts; (3) fleet age and condition; (4) exposure to scrap and secondary-material prices; (5) environmental liabilities on sites; (6) access to treatment capacity such as incineration or recycling plants.
▶How big is the Swiss waste and recycling industry?
BFS counted 865 units in waste collection, treatment, material recovery and scrap wholesale with 13,163 employees in 2024, up 8.2% since 2020. Switzerland produced about 6 million tonnes of municipal waste in 2024 (BAFU). No official market value is published.
▶Who are the main waste and recycling companies in Switzerland?
Large private players include Thommen (Kaiseraugst) with Immark (Regensdorf), Müller Recycling (Frauenfeld), Voegtlin-Meyer Entsorgung (Windisch) and Cand-Landi (Grandson). Incineration and regional recovery are often run by public or public-private companies such as AVAG Umwelt (Thun). ZAV Recycling (Hinwil) recovers metals from incineration residues.
▶What are the key trends in Swiss waste management?
Five trends: (1) the recycling rate held at 52% in 2024; (2) battery recycling fell to 35%; (3) Thommen acquired the Wiederkehr group in 2025; (4) regional firms consolidate, as Voegtlin-Meyer did with Häfeli Recycling in 2024; (5) processing capacity is moving, as with the closure of glass processing in St-Prex in 2026.
▶What are the main risks when buying a Swiss waste company?
The main risks are: (1) falling scrap and secondary-material prices; (2) loss of municipal contracts in tenders; (3) environmental liabilities on sites; (4) investment needs for fleets and plants; (5) stricter environmental requirements. Due diligence should check permits, site contamination, contract terms and expiry dates, fleet condition and commodity exposure.
▶How much waste does Switzerland recycle?
About 52% of municipal waste: of roughly 6 million tonnes in 2024, 3.1 million tonnes were collected separately and recycled, and 2.9 million tonnes were incinerated (BAFU). Rates are 100% for glass, 90% for cans, 84% for PET bottles and about 85% for paper and cardboard, but only 35% for batteries.
▶Where are Swiss waste and recycling companies located?
Using BFS figures for 2024: Western Switzerland has the most units (203, with 3,036 employees), followed by Bern and Solothurn (127; 1,918), Eastern Switzerland (118; 2,019), Northwestern Switzerland (114; 2,090) and Zurich (96; 2,285, the largest firms on average). Central Switzerland has 86 units and Ticino 53.