A new study on the global waste management equipment market has been recently published by Report Ocean. The report, titled “Waste Management Equipment Market by Product Type, (Waste Disposal Equipment and Waste Recycling & Sorting Equipment), Waste Type (Hazardous and Non-hazardous), and Application (Industrial Waste, Municipal Waste, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027” offers a detailed study of this market on the basis of its past and current performance.
According to the research study, the global waste management equipment market size was valued at US$48.42 bn in 2019. Registering a CAGR of 4.10% during the period from 2020 to 2027, the market is expected to reach US$58.87 bn by the end of the forecast period.
Predominantly, the growth in the waste management equipment market is driven by the ongoing rise in the urban population all over the world, which, in turn, has led to a considerable surge in the amount of waste from the municipal and the industrial sectors. Apart from this, the rise in environmental awareness among people has encouraged them to take up planned collection and disposal of the waste. All this has added to the growth of the worldwide waste management equipment market.
Going forward, the mounting concerns over the recycling of industrial waste are likely to garner attention towards the need for waste management equipment in the near future, leading to the market’s progress. However, the dearth of knowledge regarding sustainable waste management in developing countries and labor-intensive and high-cost processing of waste may hinder the growth trajectory of this market in the years to come.
Impact of Covid 19 on Global Waste Management Equipment Market
Due to the Covid 19 pandemic, the focus has shifted to the medical and healthcare and the pharmaceutical sectors and related markets, while impacting many others, including the global market for waste management equipment. Various governments have imposed strict lockdown in their respective economies, leading to the stoppage of manufacturing processes and disruption of supply chain systems. This affected the production of waste management equipment and, consequently, the overall market. However, with situation getting under control, the market is likely to return to its normal self soon.
Waste Recycling and Sorting Equipment Segment Report High Demand
In this report, the global waste management equipment market has been evaluated on the basis of the product type, waste type, application, and the region. On the basis of the product type, the market has been classified into waste disposal equipment and waste recycling and sorting equipment. The demand for waste recycling and sorting equipment is relatively higher than the former.
Based on the waste type, it has been classified into hazardous waste and non-hazardous waste. The hazardous waste segment is expected to rise at a substantial growth rate during the forecast period. In terms of application, it has been categorized into industrial waste, municipal waste, and others. The industrial waste segment is likely to hold the key market share in the years to come.
In terms of the region, the report has assessed the waste management equipment market across North America, Europe, Asia Pacific, and LAMEA. In 2019, North America and Europe, collectively led the global market. Researchers anticipate these regional markets to remain on the top over the period of the forecast, thanks to the presence of a large urban population and increasing focus on environmental protection.
- In 2019, North America and Europe, collectively led the global market.
- The demand for waste recycling and sorting equipment is relatively higher.
- The industrial waste segment is likely to hold the key market share in the years to come.
The global waste management equipment market is segmented into:
By Product Type
- Waste Disposal Equipment
- Waste Recycling & Sorting Equipment
- Conveyor Systems
By Waste Type
- Hazardous Waste
- Non-hazardous Waste
- Industrial Waste
- Municipal Waste
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
Companies Mentioned in the Report
- Recycling Equipment Manufacturing Inc.
- CP Manufacturing Inc.
- Dover Corp.
- Morita Holding Corp.
- Tomra Systems ASA
- Wastequip, LLC
- Blue Group
- KK Balers Ltd.
- Shred-Tech Corp.
- McNeilus Trucks and Manufacturing Inc.
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