The global resource circulation equipment market is extremely competitive and fragmented in nature, due to the presence of a high number of players operating in it, states a research study by Transparency Market Research. Some of the prominent players in the global market are Alfagy, Wolf Material Handling Systems, ECO Green Equipment, Foster Wheeler, ThermoSelect SA, and Zhejiang Feida, which are anticipated to account for a key share of the market. In order to sustain in the global market, these players are focusing on technological developments and innovations. In addition, the rising number of players entering the global resource circulation equipment market is expected to encourage the growth of the overall market throughout the forecast period.
As per the research study by Transparency Market Research, the global market for resource circulation equipment is projected to reach a value of US$17.6 bn by the end of 2019. The market is likely to register a healthy growth rate in the next few years.
Strict Environmental Regulations to Encourage Growth across Europe and North America
From a geographical perspective, North America and Europe are considered as the leading segments of the global resource circulation equipment market. These regions are anticipated to collectively account for a key share of the market throughout the forecast period. The high growth of these two regions can be attributed to the strict environmental and government regulations. In addition, the rising industrial and electronic waste is another factor expected to encourage the growth of the resource circulation equipment market in North America and Europe. Furthermore, with rising emphasis on recycling activities is estimated to augment Asia Pacific resource circulation equipment market.
On the basis of application, the global resource circulation equipment market can be classified into electrical and electronics, metal, paper, plastic and polymer, oil and gas, automotive, medical, construction, agriculture, and others. Among these, the electrical and electronics segment is projected to lead the global resource circulation equipment market throughout the forecast period. The rising trend of recycling in the electrical and electronics sector is one of the key factors likely to fuel the growth of the overall market in the next few years.
Rising Government Initiatives for Waste Recycling to Augment Global Market
The global market for resource circulation equipment is expected to grow at a rapid pace in the next few years. The rising government spending and the increasing number of initiates taken by them are some of the primary factors augmenting global resource circulation equipment market. In addition, the high rise in the construction and industrial waste is another factor projected to fuel the growth of the overall market in the next few years.
Furthermore, a significant reduction in the availability of areas for landfills is expected to generate promising opportunities for the players operating in the global resource circulation equipment market. Moreover, the introduction of innovative and effective equipment and technological advancements are estimated to drive the global market.
Upcoming Recycling Facilities Worldwide to Offer Promising Opportunities
The global resource circulation equipment market, on the contrary, the requirement of high initial investment cost is expected to restrict the growth of the global resource circulation equipment market in the coming years. Moreover, the high market prices for recycled prices in comparison with other products is projected to curb the growth of the market throughout the forecast period. Nonetheless, the rising demand for solutions reducing the carbon footprint and the upcoming recycling facilities are estimated to generate promising opportunities in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Resource Circulation Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019.”
The global resource circulation equipment market has been segmented as below:
Global Resource Circulation Equipment Market, by Application
- Electrical and electronics
- Plastic and Polymer
- Oil and Gas
- Others (Including agriculture and medical)
Global Resource Circulation Equipment Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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