New Jersey, NJ, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Increasing awareness pertaining to economic and environmental benefits of the recycled materials coupled with growing use of recycled materials in the automotive, building & construction and electrical & electronics devices manufacturing, are turning out to be the propelling factors for the market growth. The global recycling equipment & machinery market is expected to grow from USD 772.21 Million in 2017 to USD 1,278.62 Million by 2025, at a CAGR of 6.51% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Scrap materials such as discarded automobile parts, electronic consumer goods, construction materials, electrical goods are generally collected from various sources such as scrap collection companies, dealers, brokers, industrial manufacturers, individuals, and municipal organizations by major recycling companies for further processing. These major recycling companies then further reduce the size and the shape of the scrap materials with the help of recycling equipment & machinery such as baler presses, shears, granulators, shredders among others. With growing environmental awareness among the European countries of Germany, Italy, UK, Netherlands, the Europe region is generating strong demand for the recycled equipment & machinery during the forecast period. Global emphasis on reducing the greenhouse gases emission and increasing usage of recycled materials are the factors providing a major boost to the global recycling equipment & machinery market.
Although the factors such as rising utilization recycled materials in the automotive, building & construction sectors as well as emphasis on reducing carbon footprint are driving the global recycling equipment & machinery market, the inefficiency in scrap metal collection and high energy cost associated with the recycling process, are projected to pose the major roadblocks for the market growth. However, growing demand for recycled materials from the Asia Pacific region and growing focus on recovering precious metals is creating new opportunities for the market growth in the upcoming years.
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Key players operating in the global recycling equipment & machinery market are Lefort, Danieli Centro Recycling, Morita Holdings Corporation, Forrec Srl Recycling, BHS Sonthofen, Panchal Plastic Machinery Private Ltd, Mid Atlantic Waste Systems, Idromec Spa, Suny Group, Roter Recycling, Vecoplan AG, Shred-tech Corporation, Kobelco Construction Machinery America LLC, Gamma Meccanica SPA, Metso, ELDAN Recycling among others. In order to enhance their market position in the global recycling equipment & machinery market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- Due to their non-biodegradable nature, the rubber tires pose a major environmental challenge. Thus, there has been global emphasis on recycling the discarded rubber tires, giving rise to an increased demand for the tire shredding equipment. For instance, ELDAN Recycling in 2019, announced the launch of a new Twin Shaft Clean-Cut Shredder (TSCC) for production of clean-cut tyre chips from car or truck tyres. The ELDAN Twin Shaft Clean-Cut Shredder is said to be capable of producing clean-cut 50 mm chips from car or truck tyres at up to 6000 kg/hour or clean-cut 100 mm chips at up to 9000 kg/hour.
- Europe region is generating an unabated for the recycling equipment & machinery. Thus, to effectively satisfy this robust demand, major firms are progressively launching the newer, energy efficient products. For instance, Kobelco Construction Machinery America LLC in 2018, announced the launch of SK140SRD Demolition and Recycling Machine in the European market. In addition to being compact in size, this new machine provides lower fuel consumption, lower noise and a significant reduction in carbon dioxide emissions.
Baler presses segment had a market value of USD 281.32 million in 2017.
Machine segment is divided into baler presses, shredders, shears, granulators, agglomerators, extruders and others. Due to their efficiency in the handling and recycling of wide-ranging scrap materials such as rubber, iron & steel, plastic, concrete, textile fabrics, baler presses segment led the global recycling equipment & machinery market with USD 281.32 million revenue in 2017.
Rubber segment is anticipated to grow at a CAGR of 8.67% in 2018-2025.
Processed materials is segmented into plastic, ferrous & non-ferrous, wood paper & cardboard, rubber and others. Owing to their widespread utilization in the electronics, electrical and the construction industries the ferrous and non-ferrous metals segment merged as the largest processed materials segment with USD 307.27 million revenue in 2017. However, due to the imposition of the strict regulations dealing with the handling, stockpiling, landfilling & dumping of waste rubber, the rubber segment is projected to progress at an increased CAGR of 8.67% over the forecast period.
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Regional Segment Analysis of the Recycling Equipment & Machinery Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe region emerged as the largest market for the recycling equipment & machinery with a 34.29% share of market revenue in 2017. Factors such as the implementation of the strict regarding the recycling of the scrap materials, the presence of well-developed recycling industry as well as an emphasis on the sustainable manufacturing processes were responsible for Europe region to dominate the global recycling equipment & machinery market in 2017. On account of the rising demand for the recycled metals from the electronics, construction, automotive and shipbuilding industry coupled with rapid development of plastic and rubber recycling sectors, Asia Pacific region is expected to grow at the highest CAGR of 8.96% over the forecast period.
About the report:
The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global recycling equipment & machinery market is analysed on the basis of value (USD Million), volume (Thousand Units), consumption (Thousand Units), imports (Thousand Units) and exports (Thousand Units All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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