Transformer Dismantling & Recycling Services: Introduction
- Transformer dismantling & recycling refers to a process of dismantling equipment and the separation of cleanable and recyclable components. It is an alternative to "conventional" waste disposal that can lower primary metal consumption. Transformer dismantling & recycling service offers several benefits. For instance, it helps preserve natural resources and lower energy consumption.
Key Drivers & Restraints of Transformer Dismantling & Recycling Services Market
- Increase in volume of electrical equipment scrap such as transformers; and introduction of e-waste management programs to minimize the disposal of electronic equipment at landfill sites are major factors driving the global transformer dismantling & recycling services market. Rapid growth of technology, upgrade of technical innovations, and high rate of obsolescence in the electronics industry have increased the volume of scrap of electrical equipment across the globe.
- Increase in demand for recycled metals such as copper, aluminum, and steel is expected to propel the global transformer dismantling & recycling services market between 2020 and 2030
- Investments in upgrade & replacement of aging electrical equipment such as transformers is anticipated to stimulate the global transformer dismantling & recycling services market during the forecast period. However, lengthy time and high costs associated with recycling of existing transformers is expected to restrain the global transformer dismantling & recycling services market during the forecast period.
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- Governments of various countries have enforced nationwide lockdowns, as precautionary measure to curb the spread of the COVID-19 pandemic. The supply chain of electronic & electrical waste recycling was disrupted, due to shortage of manpower and limited availability of waste materials such as scrap transformers. This, in turn, has hampered the demand for transformer dismantling & recycling services.
Sorting & Collection Service Segment Expected to Hold Major Share of Global Market
- The global transformer dismantling & recycling services market can be segmented based on service and region
- In terms of service, the global transformer dismantling & recycling services market can be divided into sorting & collection, recycling, and disposal. Improper disposal of transformer increases the risk of fire, leakage, and environmental & health hazards. In order to mitigate the risk associated with improper disposal of existing transformer, recycling of transformer is necessary. This is anticipated to propel the demand for recycling services in the global transformer dismantling & recycling services market during the forecast period.
North America Likely to Constitute Significant Share of Global Transformer Dismantling & Recycling Services Market
- In terms of region, the global transformer dismantling & recycling services market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- North America held key share of the global transformer dismantling & recycling services market in 2019. Growth of the market can be ascribed to increase in volume of aging transformers. Presence of several recycling facilities is also anticipated to boost the transformer dismantling & recycling services market in the region.
- The transformer dismantling & recycling services market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase.
- The transformer dismantling & recycling services market in Europe is also projected to witness growth during the forecast period due to rise in capital expenditure on development of electrical grid infrastructures. Furthermore, introduction e waste management programs across the several countries to lower the disposal of electronic scrap at landfill sites is expected to propel the demand of transformer dismantling & recycling services in the region in the near future.
- The transformer dismantling & recycling services market in Latin America and Middle East & Africa is predicted to expand at a sluggish pace during the forecast period, led by rise in awareness about the benefits associated with recycling services
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Key Players Operating in Global Market
Leading companies operating in the global transformer dismantling & recycling services market include:
- Critical Power Products & Services
- Sri Sai Company
- Environmental Protection Services
- Alco Iron & Metal Co
- Eastern Environmental Technologies, Inc. |
Global Transformer Dismantling & Recycling Services Market: Research Scope
Global Transformer Dismantling & Recycling Services Market, by Service
- Sorting & Collection
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