Recycling Equipment Market 2020 and Forecast 2021-2027

  • TBI882076
  • November 05, 2020
  • Global
  • 135 pages
  • IFF Market Research
                                          

Report Overview: Recycling Equipment Market

The global recycling equipment market size was estimated at USD 740.7 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2027. The growth of the market is attributable to the increasing awareness towards sustainable advantages and benefits of reusing and recycling waste materials. Scrap materials including discarded electrical and electronic goods, automobile parts, paper, and construction materials, are usually collected from numerous sources for further processing. Recycling equipment including baler presses, granulators, shredders, and shears are then used to reduce the shape and size of the waste materials, which are further used for recycling. U.S contributed to the largest market share in North America in 2019. The country is one of the largest suppliers of scrap across the globe. According to the Institute of Scrap Recycling Industries (ISRI), approximately 130.0 million tons of scrap materials are annually processed in the country. Industrial baler presses, shredders, separators, and extruders are majorly utilized equipment for recycling of scrap material. Increasing demand for recycled material in end-use industries including automotive, building and construction, electrical and electronics, and packaging are likely to boost the demand for recycling equipment over the forecast period 2021-2027. Advanced technologies and frameworks utilized for the arranging, reprocessing, and assortment of recyclable materials are creating new opportunities in the market for recycling equipment. Furthermore, increasing concern towards green-house gas emission along with stringent regulations by regulatory bodies for waste recycling is likely to have a positive impact on the market during the forecast period. Recycling provides environmental benefits including conserving natural resources, diverting material from landfills, and reducing greenhouse gas emissions. The above-mentioned factors are anticipated fuel market growth over the forecast timeframe. Growing efforts by numerous recycling equipment manufacturers to produce highly efficient and technologically advanced equipment are anticipated to have a positive impact on the market for recycling equipment. For instance, in 2019, Vecoplan AG introduced a new Vecoplan Infinity Shredder (VIZ) which is a single-stage flexible-drive shredder that is used in plastic recycling.

Equipment Insights: Recycling Equipment Market

The baler press segment held the largest market share of 30.4% in 2019 owing to the increasing utilization of baler presses for recycling of ferrous, non-ferrous, and plastic material. Based on service, other segments include shredders, granulators, agglomerators, shears, separators, extruders, and others. The shredding equipment is expected to have robust growth over the forecast period on account of increasing demand from the tire industry. Shredding equipment is used to break down processed materials into reduced and more manageable parts before they are made into a more convenient form for reuse. The separator segment is anticipated to have a significant share in the recycling equipment market. Separation is one of the most important recycling process to categorize scrap material. Numerous types of separation equipment are used including magnetic separators, air separators, eddy current separators, screeners, vibratory screeners, rod decks, disc screeners, and star screeners. Granulators are used to granulate a scrap material into a grain. It is majorly used for plastic and rubber waste material and usually integrated with extruder equipment. There are two types of granulation, dry granulation, and wet granulation. The granulators segment is expected to witness a CAGR of 5.9% over the forecast period.

Processed Material Insights: Recycling Equipment Market

Based on processed material, the plastic segment held the largest market share of 31.9% in 2019 and is anticipated to witness the fastest CAGR of 5.1% over the forecast period. This is owing to the increasing utilization of recycled plastic in end-use industries including building and construction, electrical and electronics, and automotive. Furthermore, several laws and guidelines forced by governments for plastic waste disposal are anticipated to drive the market for recycling equipment over the forecast period. The metal segment accounted for 23.3% of the overall market share in 2019 owing to its high recycling ability. Scrap metal material can be recycled multiple times while maintaining their characteristics. Steel is the most recycled metal material owing to the growing demand in application industries. The rubber segment is expected to witness a CAGR of 5.9% over the forecast period owing to the numerous application of recycled rubber in civil engineering works. Various technologies are used to recycle rubber waste such as shredding, granulation, and pulverization. Shredded rubber can be used in roads and bridge abutments as insulation and filler to stabilize weak soil. The paper segment is expected to account for significant market share over the forecast period on account of its high recycling ability. According to BIR approximately 462.9 million tons of paper is produced worldwide annually, of which half of the raw material is from recycled sources. Paper can be recycled from 3 to 8 times depending upon the quality of the fiber.

Regional Insights: Recycling Equipment Market

Europe held the largest market share of 34.2% in 2019 and is anticipated to witness a CAGR of 4.4% during the forecast period on account of numerous initiatives and stringent regulations imposed by governments on waste recycling. Germany, France, Italy, U.K., and Spain are the notable countries in the region that are driving the demand for recycling equipment in the region. Asia Pacific is projected to witness a robust CAGR of 5.7% during the forecast period owing to of rising industrialization coupled with the stringent regulations pertaining to waste recycling and disposal processes. Economic development in the region along with increasing importance of waste management in India, China, and Japan are driving the market in the region. North America accounted for 22.6% of overall market share in 2019 and estimated to register substantial growth on account of rising awareness to restrain carbon footprint resulting from growing overall waste. The growing utilization of recycled material in numerous industries in the region is likely to generate the demand for recycling equipment. Central and South America and Middle East and Africa do not contribute to substantial market share compared to other regions owing to improper planning, inadequate infrastructure, and lack of proper training and awareness. Though, the key governments in both regions are taking initiatives to promote waste management, which are expected to drive the market in these regions during the forecast period.

Key Companies & Market Share Insights: Recycling Equipment Market

The market is highly fragmented owing to the presence of a large number of equipment manufacturers offering a wide range of products. Various initiatives such as technology innovations, research and development, partnerships, and merger and acquisitions have been undertaken by the key market players. For instance, in January 2019, ELDAN Recycling A/s launched a new Twin Shaft Clean-Cut Shredder (TSCC) for the production of clean-cut tire chips from car or truck tires. Some of the prominent players in the recycling equipment market include: Key Companies profiled This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global recycling equipment market on the basis of equipment, processed material, and region:

Equipment Outlook (Revenue, USD Million, 2016 - 2027)

  • Baler Press
  • Shredders
  • Granulators
  • Agglomerators
  • Shears
  • Separators
  • Extruders
  • Others

Processed Material Outlook (Revenue, USD Million, 2016 - 2027)

  • Metal
  • Plastic
  • Construction Waste
  • Paper
  • Rubber
  • Others

Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
    1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum)
    1.3.2. IFF Internal Database
    1.3.3. Secondary Sources & Third-Party Perspectives
    1.3.4. Primary Research
1.4. Information Analysis
    1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
|  read more...

Request a sample

Fill below form to request a sample

Enquiry

Please fill this form to enquire before buying

Discount

You can request for discount regarding the report by using below form