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Global Recycling Equipment Market Size was valued at USD 27.8 Billion in 2022. The Recycling Equipment market industry is projected to grow from USD 29.4 Billion in 2023 to USD 45.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2023 - 2032). Raising awareness of the long-term benefits of recycling and reusing waste materials, such as metal, plastic, and construction waste, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Because they recognize the damage that carbon emissions and greenhouse gases do to the environment, governments around the world are taking steps to reduce them. As a result, there is an increasing demand for recycling machinery and technologies to promote sustainable practices and help with trash reduction. Recycling equipment can be used to process waste materials. By doing this, more natural resources are protected and less rubbish ends up in landfills. Finding landfills is becoming more difficult, and the amount of rubbish produced by growing populations and consumerism will only increase. Governments thus promote the adoption of recycling techniques by enacting regulations such as landfill levies, landfill bans, and recycling targets.
The European Union wants its member nations to recycle 55% of their trash by the year 2025. Similar to this, the United States' Environmental Protection Agency (EPA) has set a target of 15% less waste being dumped in landfills by 2030. These guidelines and goals encourage recycling practices and boost demand for recycling equipment. Governments are pushing recycling through initiatives like extended producer responsibility (EPR) programmes. This means that when a product reaches the end of its useful life, the producer is responsible for collecting and recycling it. This encourages producers to design products that are easier to recycle and lessens the burden on facilities for disposing of waste. Recycled materials are more popular since they are more cost-effective than virgin materials. Recycled materials are a popular option for companies looking to reduce costs. Recycling materials also reduces the need for new materials, aiding in the preservation of natural resources and reducing the environmental effects of resource extraction and processing.
The desire from consumers for sustainable products is also growing. Customers are seeking for sustainable and environmentally friendly items as they become more aware of the impact of their purchasing choices. As a result, a lot of companies use recycled materials to meet consumer demand for environmentally friendly products. Thus, driving the Recycling Equipment market revenue.
The global Recycling Equipment market segmentation, based on Equipment, includes baler press, shredders, granulators, agglomerators, shears, separators, extruders, and others. Due to the rising need for dense bales made of recyclable materials such cardboard, paper, plastic, aluminum, and non-ferrous metals, baler presses dominated the market in 2022. Vertical balers, horizontal balers, two ram balers, and liquid extraction balers are some of the different varieties of baler presses available today. The shredding equipment is anticipated to expand profitably over the course of the projected period due to rising demand from the tire sector. Processed materials are divided into smaller, more manageable parts by shredding machinery before being turned into a more useful form for reuse.
The global Recycling Equipment market segmentation, based on Processed Material, includes metal, plastic, construction waste, paper, rubber, and others. The plastic segment led the market in 2022. The rising use of recycled plastic in end-use industries including electrical & electronics, automotive, and construction provides one explanation for this. Numerous laws and regulations implemented by governments for the disposal of plastic waste are predicted to drive the market for plastic recycling equipment throughout the course of the forecast period. Saving landfill space, electricity, and water are just a few advantages of recycling paper. Paper recycling also reduces greenhouse gas emissions, whilst recovered fiber is an economical, renewable resource that may be utilized to make new paper products. The demand for paper recycling is therefore expected to rise as a result of the growing focus on sustainability, which will in turn fuel the expansion of the recycling equipment market over the projected period.
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Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The Asia Pacific Recycling Equipment market dominated this market in 2022. This is a result of escalating industrialization and stringent regulations governing trash disposal and recycling practices. Economic development in the area as well as the expanding importance of waste management in India, China, and Japan are driving the market in the region. Moreover, In the Asia-Pacific region, the Indian Recycling Equipment market had the quickest rate of growth while China's Recycling Equipment market had the greatest market share.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Europe Recycling Equipment market accounted for the healthy market share in 2022. The demand for recycling equipment is expected to rise in Europe over the course of the forecast period as a result of a number of initiatives and tight governmental laws addressing garbage recycling. Infrastructural and development projects are being funded by the governments of many European countries, which is expected to benefit the market because construction activities require a variety of recyclable materials. Further, In the European region, the German Recycling Equipment market had the biggest market share, and the U.K. Recycling Equipment market had the quickest rate of growth.
The North America Recycling Equipment Market is expected to register significant growth from 2023 to 2032. Strict government regulations governing waste management, a surge in demand for recycled goods, and a rise in consumer knowledge of sustainable waste management practices are some of the major factors increasing market statistics in the area. The United States and Canada are the two countries in North America that contribute most to market growth. Further, In the North American area, the U.S. Recycling Equipment market had the biggest market share, while the Canada Recycling Equipment market had the quickest rate of expansion.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Recycling Equipment market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Recycling Equipment sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Recycling Equipment industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Recycling Equipment sector. Major players in the Recycling Equipment market, including Recycling Equipment Manufacturing, The CP Group, American Baler, Kiverco, General Kinematics, MHM Recycling Equipment, Marathon Equipment, Ceco Equipment Ltd., Danieli Centro Recycling, ELDAN Recycling, Metso, Suny Group, Forrec Srl Recycling, BHS Sonthofen, and LEFORT GROUP, are attempting to increase market demand by investing in research and development operations.
Tomra Systems ASA (Tomra Systems) is a business that collects and sorts products for manufacturers. The company sells a variety of goods, including reverse vending machines, sorting equipment, peeling equipment, and equipment for process analytics. Customer service, digital solutions, and possibilities for material recovery are among its offerings. Tomra Systems' reverse vending machines are used to collect plastic, glass, and metal bottles for recycling. The mining, recycling, and food industries are among the company's clientele. Hong Kong, China, Australia, Brazil, New Zealand, Japan, Norway, and Australia are among the places where it operates. Tomra Systems' main office is in Asker, Oslo, Norway. In July 2020, TOMRA Sorting Recycling improved its Autosort optical sorter, which makes use of artificial intelligence to increase the effectiveness and precision of sorting waste materials.
Metso Outotec Corp (Metso Outotec) provides technology and services to the metallurgical and mineral processing sectors. The business offers equipment for energy production, manufacturing sulfuric acid, smelting and converting metals, cleaning off-gases, and physical separation in addition to processing bauxite, alumina, and aluminum. Additionally, it offers solutions for the chemical sector, water management, plant audits, process control, equipment and plant improvements, as well as services for the processing of minerals and metals. The company provides services to the alternative and chemical energy industries. On the continents of Europe, the Middle East, Africa, the Americas, and APAC, it conducts business. Helsinki, Finland is home to Metso Outotec's corporate headquarters. In October 2021, Metso Outotec unveiled an online resource for metal recycling machinery called Index. This technology allows for the monitoring and analysis of metal recycling equipment while data is gathered, assessed, and categorized.
· Recycling Equipment Manufacturing
· The CP Group
· American Baler
· Kiverco
· General Kinematics
· MHM Recycling Equipment
· Marathon Equipment
· Ceco Equipment Ltd.
· Danieli Centro Recycling
· ELDAN Recycling
· Metso
· Suny Group
· Forrec Srl Recycling
· BHS Sonthofen
· LEFORT GROUP
February 2023: With the help of chemical recycling facilities, Flowserve and Clariter have launched a partnership with the aim of reducing or eliminating plastic waste. They're searching for cutting-edge, green pump and valve lubricant formulations created from recycled plastic waste.
December 2022: Sumitomo Chemical constructed a pilot facility for the chemical recycling of acrylic resin. The collection of acrylic plastic wastes and application of recycling technology on them, showcasing the most recent developments in plastic recycling machinery, is a substantial effort.
· Baler Press
· Shredders
· Granulators
· Agglomerators
· Shears
· Separators
· Extruders
· Others
· Metal
· Plastic
· Construction Waste
· Paper
· Rubber
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 27.8 Billion |
|
Market Size 2023 |
USD 29.4 Billion |
|
Market Size 2032 |
USD 45.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.90% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Equipment, Processed Material, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Recycling Equipment Manufacturing, The CP Group, American Baler, Kiverco, General Kinematics, MHM Recycling Equipment, Marathon Equipment, Ceco Equipment Ltd., Danieli Centro Recycling, ELDAN Recycling, Metso, Suny Group, Forrec Srl Recycling, BHS Sonthofen, and LEFORT GROUP |
|
Key Market Opportunities |
Governments of various countries are focusing on recycling infrastructure |
|
Key Market Dynamics |
The rising awareness about the sustainable benefits of reusing and recycling waste materials such as metal, plastic, and construction waste |
The global Recycling Equipment Market was valued at USD 27.8 billion in 2022, and it is estimated to reach USD 45.6 billion by 2032.
The global market is projected to grow at a CAGR of 5.90% during the forecast period, 2023-2032.
Which region held the largest market share in the Recycling Equipment market?
The key players in the market are Recycling Equipment Manufacturing, The CP Group, American Baler, Kiverco, General Kinematics, MHM Recycling Equipment, Marathon Equipment, Ceco Equipment Ltd., Danieli Centro Recycling, ELDAN Recycling, Metso, Suny Group, Forrec Srl Recycling, BHS Sonthofen, and LEFORT GROUP
The Baler Press Equipment dominated the market in 2022.
The Plastic Processed Material had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65236
Published on :
Sep 2023
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