Global Recycling Equipment Market Size Forecast 2024 - 2033
9 Dec, 2024
How Is The Global Recycling Equipment Market Defined?
Recycling equipment consists of machines and devices designed to process waste materials, enabling the recovery and reuse of valuable resources. This equipment aids in the separation, compaction, and transformation of various recyclable materials, such as metals, plastics, paper, and glass, into usable products for further manufacturing or consumption.
Recycling Equipment Global Market Report 2024 provides data on the global recycling equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The recycling equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Recycling Equipment Market Size Expected To Change, And What Are The Growth Rate Projections?
The recycling equipment market has experienced significant growth, projected to increase from $25.87 billion in 2023 to $27.52 billion in 2024, growing at a CAGR of 6.4%. Growth drivers include government regulations, limitations in landfill space, rising urbanization, industrialization, and increasing waste generation. The market is expected to continue its strong growth, reaching $35.47 billion by 2028, driven by circular economy initiatives, stricter waste management laws, growing e-waste, and carbon footprint reduction goals. Emerging trends include automation in recycling, decentralized recycling facilities, and the use of blockchain for improved transparency.
Which Drivers Are Accelerating Growth In The Recycling Equipment Market?
The growing construction sector is expected to stimulate the ready-to-use grout and adhesive market. This sector, which involves building and maintaining residential, commercial, and infrastructure projects, is expanding due to rapid urbanization and increased demand for new infrastructure. Government investments in large-scale projects also contribute to this growth. Ready-to-use grout and adhesive products are pre-mixed solutions that save time and reduce errors in construction, particularly for tiling and flooring applications. According to a report published by the Office for National Statistics in May 2024, total new construction orders rose by 15.9% in the first quarter of 2024, reaching $1,913 million. As a result, the expanding construction sector is driving the ready-to-use grout and adhesive market.
Get Your Free Sample of the Global Recycling Equipment Market ReportWhat Are The Core Segments Of The Global Recycling Equipment Market?
The recycling equipment market covered in this report is segmented –
1) By Equipment: Baler Press, Shredders, Granulators, Agglomerators, Shears, Separators, Extruders, Other Equipment
2) By Processed Material: Metal, Plastic, Construction Waste, Paper, Rubber, Other Processed Materials
3) By Application: Municipal Solid Waste Recycling, Commercial And Industrial Waste, Metals Separation And Recycling, E-Waste Recycling, Transfer Station Recycling
Which Emerging Trends Are Reshaping The Recycling Equipment Market Size?
Leading companies in the recycling equipment market are concentrating on developing advanced products, such as standardized recycling machines, to boost efficiency, cut costs, and meet the increasing demand for quick recycling solutions in the post-consumer recycling sector. These standardized machines are pre-configured and designed to handle a variety of recyclable materials without requiring custom configurations, enabling swift deployment. For instance, in October 2022, UMAC, a subsidiary of the EREMA Group based in Austria, introduced READYMAC, a standardized recycling machine tailored for post-consumer recycling applications. READYMAC efficiently processes lightly contaminated waste with a throughput of up to 450 kilograms per hour. Built on proven technology, it delivers reliable performance and cost-effective recycling solutions for customers.
What Is The Largest Region In The Recycling Equipment Market?
Asia-Pacific was the largest region in the recycling equipment market in 2023. The regions covered in the recycling equipment marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.