Waste Management Equipment Market
Global Market Study on Waste Management Equipment: Growing Concerns Regarding Municipal Waste Recycling and Tightening Norms Related to Landfilling to Push Demand
Waste Management Equipment Market Segmented By Medical Waste Management Equipment, Plastic Waste Management, Waste Management, Wet Waste Management, Kitchen Waste Disposal Equipment, Solid Waste Management, Water and Waste Management Equipment, E-waste Management, Municipal Solid Waste Management
Waste Management Equipment Market – Key Research Findings
- The global waste management equipment market was valued at nearly US$ 11 Bn in 2017.
- The waste management equipment market is pegged to observe robust growth with a 4.4% CAGR over 2018–2028.
- North America and Europe are expected to remain the largest regional markets for waste management equipment throughout the forecast period.
- Increase in municipal waste, stringent government regulations in North American countries such as the US and the presence of one of the biggest manufacturing hubs in Europe are expected to be the key factors driving the demand for waste management equipment.
- South Asia and East Asia regions are expected to create high growth opportunities for the manufacturers of waste management equipment over the forecast period.
- Rapid growth of end-use industries in the region, coupled with the thriving economy, is expected to be the key factor contributing to the growth of the waste management equipment market within these regions, particularly in rapidly growing economies such as China and India.
- Shredders are expected to remain a high volume segment in the waste management equipment market, owing to the simple construction and wide applications of this equipment in municipal waste management.
- Shredders are machines used for many applications such as municipal waste recycling and commercial dry waste, to name a few.
Find Out More about the Report Coverage
- CP Manufacturing Inc.
- Dover Corporation
- Moritia Holdings Corporation
- Tomra Systems ASA
- Buhler AG
- Maren Engineering Corporation
- KK Balers Ltd.
- McNeilus Truck & Manufacturing, Inc.
- Heil - An Environmental Solutions Group Company
- Blue Group
- Kadant PAAL GmbH
- Shred-Tech Corporation
- Green Machine Sales LLC
Top 3 Factors Shaping Waste Management Equipment Market
- Upsurge in Food Wastage to Augment Sales of Waste Management Equipment
Food wastage has grown significantly over the last few years. As per the Food and Agricultural Organization of the United Nations, roughly one-third of the total food processed for human consumption is wasted yearly, i.e. approximately 1.3 Billion Units. Food wastage is growing at a significant CAGR.
Of the total food wasted, 16% is sent to landfills and 8.1% is recycled. Food waste recycling has increased gradually in the last three years. With enhancements in the food waste recycling process, the demand for recycling equipment has also increased, which has uplifted the sales of waste management equipment in the market
- Growing Concern Regarding Industrial Waste Recycling to Spur the Demand for Waste Management Equipment
Growing environmental effects are making consumers more inclined towards industrial waste recycling. Increasing awareness among consumers about the importance of reducing industrial waste is the primary driver for industrial waste recycling equipment.
A major part of the global waste in developed countries is generated by the industrial sector. The demand for industrial waste recycling machines around the globe is anticipated to grow at a rapid pace, owing to the anticipated increase in growth avenues in the global industrial waste management equipment market in the coming years.
- Expanding Urban Population and Increase in Waste Generation Per Capita to Increase Demand for Waste Management Equipment
Population growth around the globe has been one of the major factors impacting every major industry. With the ever-growing population, solid waste generation has also increased considerably over time.
Furthermore, with growth in industrialization and services, migration of population from rural to urban areas has also been on the rise. Hence, population growth is expected drive the demand for waste management equipment during the forecast period.
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Waste Management Equipment Market Structure Analysis
- The global waste management equipment market represents a fairly fragmented competition landscape wherein Tier-1 companies hold about a 30–35% revenue share
- The emergence of a large number of manufacturers of waste management equipment from China that offer low-cost waste management equipment has created a huge price variation in the waste management equipment market around the globe
- Leading players in the waste management equipment market are concentrating on the expansion of their market footprint in key developing regions along with strategic collaborations with domestic players to maintain their position as market leaders
Market Research Methodology - Perfected through Years of Diligence
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Waste Management Equipment Market: Segmentation