Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "North America Hazardous Waste Handling Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The North American hazardous waste handling automation market is expected to witness substantial growth, registering a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
The market is fueled by increased industrial activity, a rise in production and manufacturing-related waste, and government and industry regulations on managing hazardous waste.
Key Highlights
Automating hazardous waste handling is the method of handling hazardous waste with machines, ranging from classification and movement to actual destruction. The growing popularity of hazardous waste handling automation is driven by businesses seeking solutions to reduce their environmental impact.
The North American hazardous waste handling automation market is set to grow significantly over the forecast period due to stringent governmental and industrial regulations aimed at ensuring safety from hazardous waste, protecting people, and the environment.
The United States is predicted to dominate the North American hazardous waste handling automation market during the forecast period due to the rising adoption of automation in waste management processes. Recent technological innovations and adoptions have led to the development of new waste-handling automation products that enhance overall operations and accuracy in various applications.
Decomposing or neutralizing hazardous waste has become challenging, leading to the need for new technologies for hazardous waste management. Various organizations, including non-government organizations (NGOs) and community-based organizations (CBOs), are stepping in to help collect, recycle, and dispose of medical waste, driving the adoption of automation solutions for waste management.
North America Hazardous Waste Handling Automation Market Trends
Growing Concerns Over Listed Waste Management Expected to Drive Market Demand
Listed wastes are generated from manufacturing processes and specific industries, and their increasing generation is driven by industrialization, urbanization, and economic growth. Automation solutions help control healthcare treatment expenses caused by the after-effects of hazardous wastes in contact with the population, leading to growth in the hazardous waste handling automation market.
PegEx Inc., a software developer for the hazardous waste industry, has provided its cloud-based PegEx platform to three major new customers, Red Technologies, EnviroSmart, and EnviroCare, to improve productivity, eliminate risks, and increase revenues of their waste management businesses.
The increasing amount of hazardous waste from the production and manufacturing sector is a significant factor driving the market. Automation solutions are deployed to avoid direct human contact with hazardous waste, reducing concerns over proper handling and improving process efficacy.
The United States is Expected to Witness Significant Growth
The US is expected to dominate the global hazardous waste handling automation market during the forecast period. The country remains at the forefront of the regional market, leveraging the latest technological breakthroughs and adoptions to advance new hazardous waste handling automation products, improving overall processes and accuracy in various applications.
Several new product launches, mergers, and acquisitions in the market are driven by continuous technological evolution and the application of new technologies to unlock previously considered non-commercial volumes.
Veolia, through its subsidiary Veolia North America, recently signed an agreement to take over Alcoa USA Corp.'s Hazardous Waste Treatment Site in Gum Springs, Arkansas (the US), to expand its hazardous waste treatment and recycling activity globally, starting from North America.
The Michigan Department of Environment, Great Lakes and Energy (EGLE) reissued a license renewal and expansion to US Ecology's Detroit North hazardous waste management facility. The renewal plans strengthen the country's waste management systems.
The North American hazardous waste handling automation market is moderately competitive, with companies adopting growth strategies such as product launches, high expenses on R&D, partnerships, and acquisitions to sustain intense competition.
In February 2023, Terex Corporation announced an equity investment with Austin-based business Apptronik Inc., which specializes in creating adaptable, mobile robotic systems to usher in the next generation of robots. The collaboration aims to develop potential robotic uses for Terex equipment.
A selection of companies mentioned in this report includes
- PaR Systems Inc.
- Konecranes PLC
- DX Engineering
- Floatograph Technologies
- Pallmann
- Hosokawa Micron Powder Systems
- ACE Inc.
- Terex MHPS GmbH
- Hiab
- PENZ Crane
For more information about this report visit https://www.researchandmarkets.com/r/44b6is
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