Rockville , Jan. 07, 2024 (GLOBE NEWSWIRE) -- The waste management equipment market is expected to grow at a 4.5% CAGR between 2024 and 2034, according to Fact.MR. By 2034, the global market for these products is expected to reach US$ 29,842.2 million. According to Fact MR, a provider of market research and competitive intelligence, the global Waste Management Equipment market is rapidly growing and is expected to continue its growth trajectory in the coming years.
Economic development in various regions is expected to drive infrastructure investments, including waste management systems, to address the challenges associated with increased urbanization and industrialization. Integration of IoT technologies in waste management equipment for real time monitoring, optimization, and data analytics is expected to improve operational efficiency and reduce costs.
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The trend towards decentralized waste management solutions, including on site composting, small scale recycling facilities, and modular waste treatment systems, is gaining traction for its efficiency and reduced transportation costs. Rising public awareness about the environmental impact of improper waste disposal is leading to increased support for waste management initiatives. Education programs and awareness campaigns are creating opportunities for market growth.
The integration of robotics and automation in waste sorting and processing is anticipated to improve efficiency, reduce manual labor, and enhance the overall performance of waste management systems. The development of smart cities and urban planning initiatives is creating opportunities for the integration of intelligent waste management systems, including sensor based technologies and data analytics for optimized waste collection routes.
Collaboration between waste management companies and technology providers, including startups and established tech firms, is expected to drive innovation in the sector, leading to the development of new and improved waste management solutions.
| Report Attribute | Details |
| Value Projection (2034) | US$ 29,842.2 million |
| Growth Rate (2024-2034) | 4.5% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Key Takeaways from the Market Study
- In 2024, the global waste management equipment market is estimated to have a global market size of US$ 19,216.2 million.
- The semi solid is expected to dominate the market, with a market share of 45.2% in 2024.
- The dumpers truck category is expected to hold a market share of 27.0% in 2034.
- China is predicted to acquire a 56.9% of the global market share in 2024.
- North America is expected to account for a CAGR of 4.6% by 2034.
“The adoption of waste reduction strategies by businesses and governments, such as zero-waste initiatives and extended producer responsibility programs, is influencing the need for advanced waste management equipment,” says a Fact.MR analyst.
Competitive Landscape
The waste management equipment market is influenced by a focus on innovation, global presence, and adherence to environmental regulations. Companies emphasize technology advancements, strategic partnerships, and cost competitiveness.
The ability to customize solutions, provide excellent customer support, and stay abreast of market trends, including digitalization and data analytics, are crucial for success in this dynamic industry. Continuous research and adaptation to evolving industry needs are essential for maintaining competitiveness.
Recent Development
- In June 2022, California based Sierra International Machinery LLC inaugurated a state-of-the-art manufacturing facility in Jesup, Georgia, USA. Covering an expansive 24,000 square feet, the new facility is established to enhance the production capacity of waste management equipment, meeting the growing demand for Sierra's products and contributing to business expansion.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global waste management equipment market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on waste management equipment market analysis by form (corona discharge, and UV radiation), by product type (dumpers truck (garbage collection truck), compactors (wheeled and unwheeled), cart lifters, screeners, feeders, conveyor systems, shredders, balers, grinders and granulators, sorting equipment, others), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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