Pune, July 11, 2024 (GLOBE NEWSWIRE) -- Waste Management Equipment Market Size Analysis:
“According to SNS Insider Research, The Waste Management Equipment Market size was valued at US$ 17.89 billion in 2023. It is expected to reach USD 26.49 billion by 2032 and grow at a CAGR of 4.4% over the forecast period 2024-2032.”
Surging Municipal Waste Generation and Stringent Environmental Regulations Drive the Market.
Growing Demand and Market Opportunities
The waste management equipment market is undergoing a considerable growth surge due to a combination of reasons. The increase of municipal waste and associated tougher businesses’ environment-related requirements as well as focus of the public on a sound waste management drive growth of equipment market. Such equipment may vary from a great number of tools and vehicles to handle and process solid, liquid, gaseous, other types of waste to special types of equipment to handle hazardous industrial, medical waste wet. Absolutely all of it plays an important role in the work of waste flows and environmental protection.
The ever-growing amount of waste in the whole world is one of the key drivers that impacts the growth of the waste management equipment market. As the number of citizens of towns and cities is skyrocketing, and the interests and beliefs of people are changing, the volume of municipal solid waste in urban areas is escalating as well. According to the information provided by the World Bank Group, in 2021 the worldwide solid waste generation experienced a quantity of 1.3 billion tons and is anticipated to raise to 2.2 billion tons by 2025. Thereby, with such a vast and continual occurrence of this issue of waste, the best sustainable equipment required in this area, such as waste collection trucks, compactors, shredders, and sorting machinery, are in high demand.
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Major Players Analysis Listed in this Report are:
- Dover Corporation
- Morita Holdings Corporation
- Wast equip LLC
- Oshkosh Corporation
- Sierra International Machinery LLC
- JCB
- Kirch off Group
- Waste Connections
- Enerpat Group UK Ltd
- Caterpillar Inc.
- Other Players
It is important to note that environmental regulations are becoming tougher and more severe all over the globe as well. Governments are issuing bans for landfilling solid waste and promoting waste reduction and reuse recycling initiatives. Therefore, there are plenty of opportunities for companies that specialize in developing waste management equipment to innovate their products, particularly sorting and recycling technology.
Waste Management Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 17.98 Bn |
| Market Size by 2032 | US$ 26.49 Bn |
| CAGR | CAGR of 4.4% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers | • Rising Levels of Municipal Waste and Growing Demand for Effective Disposal Methods to Propel Market Growth. • The developments in waste management equipment, such as development of the automated recycling and processing equipment, also benefit the market because they make the process more efficient. |
Segmentation Analysis
The waste management equipment market is divided into two principal segments: waste disposal equipment and waste recycling and sorting equipment. Waste disposal equipment includes dumpers, dumpsters, and collection trucks that transport waste to the location of unloading. On the other hand, waste recycling and sorting segment include conveyor, shredders, and screens that help to recycle or sort the recyclable out of waste.
The industrial waste segment has major revenue shares which are expected to increase by approx. 45% in 2023 during the forecast period. This is due to the waste materials produced by the construction, oil & gas waste, and manufacturing. The growth of the hazardous waste segment is due to the increasing regulations from government as well as it is critical to maintain strict laws for handling and dumping of chemicals, medical waste, and electronic waste.
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Waste Management Equipment Market Key Segmentation:
By Product Type
- Waste Disposal Equipment
- Dumpsters
- Compactors
- Trucks
- Others (Drum Crushers and Others)
- Waste Recycling & Sorting Equipment
- Conveyors
- Screeners
- Shredder
- Others
By Waste Type
- Hazardous
- Non-hazardous
By Application
- Industrial Waste
- Municipal Waste
- Others
Key Regional Developments
North America takes the leading share with 34.48% in 2023 in the waste management equipment market, for there have many developed waste management equipment, and the key market players take the several most important parts in the world.
The Asia Pacific region is expected to grow at a fastest growth from 2024 to 2032. This is mainly due to rapid industrialization and urbanization in developing countries such as China, India and Japan, which generate a lot of waste.
Regions Covered in this report are:
- North America (US, Canada, Mexico)
- Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe])
- Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific)
- Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa])
- Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Future Growth of the Market
The prospects of the waste management equipment market seem promising due to the continuous growth of environmental concerns and the trend toward sustainable waste management in particular. Besides, the advent of new technologies such as automation and the IoT is bound to transform the waste disposal sector completely. Smarter waste management tools employing IoT sensors will allow for creating optimized waste disposal routes and adjust waste collection time and mode to the specific characteristics of the existing waste.
Recent Developments
In May 2023: Wastequip launched its all-new Compactor Service Solutions, providing customers with a centralized platform for scheduling repairs, maintenance, and installations.
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Key Takeaways
- The waste management equipment market is growing, as currently, it dynamically evolves due to the increasing amount of waste and stringent environmental regulations.
- The greatest demand is seen in the field of sustainable systems of waste management, with advanced waste collection, recycling, and sorting equipment, which provides an interesting target market for companies
- Information on technological advancements and their impact on market efficiency is included.
- The results of the report can be used by clients in making decision about investment and businesses.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Waste Management Equipment Market Segmentation, By Product Type
8. Waste Management Equipment Market Segmentation, By Waste Type
9. Waste Management Equipment Market Segmentation, By Application
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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