Recycling Equipment Market: Introduction
- Scrap materials are often gathered from a variety of sources for further processing, including abandoned electrical and electronic items, vehicle components, paper, and construction materials. Baler presses, granulators, shredders, and shears are among the recycling equipment used to decrease the form and size of waste materials, which are subsequently recycled.
- Recycling equipment compresses recyclable materials so they take up less room before being picked up and so more materials may be carried away at once. Recycling technology also reduces the amount of space taken up by items while waiting to be picked up. During the forecast period, the need for recycling equipment is predicted to increase significantly across the globe.
Key Drivers and Opportunities of the Global Recycling Equipment Market
- Increasing use of recycled materials in a wide range of end-use industries, such as packaging, construction, electrical & electronics, automotive, and medical, is expected to drive demand for recycling equipment throughout the forecast period. Recycled materials are widely utilized in the electrical and electronics industry to make wire and cable insulations, TV cabinets, refrigerator trays/linings, laptop bodies, kettles, personal computers, and mobile phones, among other things. Similarly, recycled glass is opening up new possibilities for packaging containers and for producers of bottles. In the coming years, these developments are anticipated to drive the demand for recycled machinery even further.
- Increasing investment in new product development and rising trend of adoption of customized recycling equipment are expected to generate lucrative opportunities for manufacturers of recycling equipment to expand their customer base by providing customized solutions to customers during the forecast period. Moreover, increasing collaboration of market players with manufacturers is expected to create significant opportunities in the recycling equipment market during the forecast period.
- While recycling equipment is becoming more popular, issues related to product adoption in emerging markets may hamper market growth throughout the forecast period. This is related to customer perceptions regarding recycled plastics, such as lack of durability and strength, contamination, and so on. These challenges might hamper the growth of the recycling equipment market in the near future. Moreover, continuous fluctuations in the prices of raw materials used for manufacturing recycling equipment is expected to hamper the market during the forecast period. In the coming years however, increased government activities and awareness campaigns related to waste management will increase the need for recycled materials.
Europe to Hold Major Share of the Global Recycling Equipment Market
- In terms of region, the recycling equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- During the forecast period, Europe is expected to be the dominant market for recycling equipment. The dominance of Europe in the worldwide recycling equipment market is due to growing concern about plastic and other waste, strict regulations aimed at decreasing and recycling waste materials, and increased engagement from private companies.
- In addition, North America and Asia Pacific are likely to have a strong demand for recycling equipment due to increased concerns about packaging waste and growing demand for sustainable packaging.
Key Players Operating in the Global Recycling Equipment Market
- BHS Sonthofen
- Clean Harbors, Inc.
- Forrec S.R.L.
- Gamma Meccanica S.p.A.
- Indromec S.p.A.
- Lefort Group
- Mortia Holdings Corporation
- Netplasmak A.Ş.
- Recycling Equipment Inc.
- Shred-Tech Corporation
- The CP Group
Global Recycling Equipment Market: Research Scope
Global Recycling Equipment Market, by Product Type
- Baler Press
- Others (Conveyors, Tippers, etc.)
Global Recycling Equipment Market, by Material Type
- Others (Rubber, Wood, etc.)
Global Recycling Equipment Market, by End-use Industry
- Electricals and Electronics
- Building and Construction
- Others (Paper, Rubber, etc.)
Global Recycling Equipment Market, by Price
Global Recycling Equipment Market, by Distribution Channel
Global Recycling Equipment Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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