Recycling Equipment Market Worth $1.3 Billion by 2027 | CAGR
SAN FRANCISCO, June 8, 2020 /PRNewswire/ -- The global recycling equipment market size is anticipated to reach USD 1.3 billion by 2027, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Growing awareness pertaining to the economic and environmental benefits of recycled processed materials are anticipated to surge the market over the forecast period.
Key suggestions from the report:
- In 2019, the baler press segment accounted for 30.4% of overall market share owing to increasing utilization of baler presses to compact, bind, and bale recyclable processed materials for the purposes of storage and transportation
- The shredders segment is expected to grow with a robust pace, registering a CAGR of 6.4% from 2020 to 2027 owing to the growing utilization of shredders in recycling of plastic and tire materials
- Plastics is expected to be the largest material segment in the industry owing to the increasing awareness towards sustainable advantages and benefits of reusing plastic waste
- Europe is anticipated to dominate the recycling equipment market on account of numerous initiatives and stringent regulations imposed on waste disposal by key governments including Germany, Italy, France, and U.K
Read 130 page research report with ToC on "Recycling Equipment Market Size, Share & Trends Analysis Report By Equipment (Baler Press, Shredders, Granulators, Agglomerators, Separators), By Processed Material, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/recycling-equipment-market
Increasing utilization of recycled material such as steel, iron, plastic, rubber, and concrete in the end-use industries including automotive, electrical and electronics, building and construction, and packaging are anticipated to drive the market over the forecast period.
Growing concerns over increasing carbon footprint along with rising government efforts in numerous countries in order to promote recycling of material is expected to create significant opportunities for the manufacturers. Increasing awareness towards sustainable advantages and benefits of reusing waste material is projected to drive the market.
The market is extremely competitive and relies on technological and product developments. For instance, in January 2019, ELDAN Recycling A/s launched a new Twin Shaft Clean-Cut Shredder (TSCC) for the production of clean-cut tire chips from car or truck tires.
Grand View Research has segmented the recycling equipment market on the basis of equipment, processed material, and region:
- Recycling Equipment Outlook (Revenue, USD Million, 2016 - 2027)
- Baler Press
- Recycling Equipment Processed Material Outlook (Revenue, USD Million, 2016 - 2027)
- Construction Waste
- Recycling Equipment Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Bioplastics Market– Growing population and urbanization coupled with the increasing awareness regarding health-issues in emerging economies of Asia Pacific are likely to assist end-use industries, which in turn is expected to escalate the demand for bioplastics over the forecast period.
- High Performance Adhesives Market– Rising private and government spending in healthcare and building and construction sector across the globe is the crucial factor supporting the growth of the market for high performance adhesives.
- Plastic Market– Increasing plastic consumption in the construction, automotive and electrical and electronics industries is projected to drive the market for plastic over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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