According to the report by Expert Market Research (EMR), the global recycling equipment market size reached a value of USD 28.3 billion in 2022. Aided by the escalating demand for resource conservation and waste management solutions, and the broadening applications of recycling equipment in numerous industries, the market is projected to further grow at a CAGR of 5.70% between 2023 and 2028 to reach a value of USD 39.2 billion by 2028.
Recycling equipment encompasses various machines used to sort, process, and convert waste materials into reusable or valuable materials. These devices range from waste sorting equipment to compaction machines, all integral in managing waste effectively, reducing landfill load, conserving natural resources, and lowering pollution.
The global recycling equipment market growth is primarily driven by the surging demand for resource conservation and effective waste management solutions. The increasing awareness of the environmental impacts associated with waste disposal has resulted in heightened demand for recycling solutions, thereby boosting the sales of recycling equipment.
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Additionally, the rising emphasis on sustainable living has propelled the recycling equipment market expansion. As a key component of waste management, recycling equipment aids in reducing landfill use, mitigating harmful emissions, and conserving resources – aspects that align with the sustainable development goals.
The widening applications of recycling equipment in multiple industries also significantly contribute to the recycling equipment market developments. These devices are not confined to waste management facilities but are used across sectors, including construction, manufacturing, and municipal corporations. The need for effective waste management in these sectors augments the demand for recycling equipment.
Moreover, the emergence of innovative recycling technologies, such as reverse vending machines and smart recycling sensors, has enriched the recycling equipment portfolio. These technologies are designed to improve recycling efficiency and the user experience, further stimulating the recycling equipment market growth.
In addition, the implementation of strict environmental regulations and waste management policies will likely serve as a critical market propellant. Governments worldwide are imposing regulations to manage waste effectively, and non-compliance can result in severe penalties. This scenario impels industries to invest in advanced recycling equipment, fostering the recycling equipment market expansion.
Recycling Equipment Market Segmentation
The market can be divided based on product type, material type, and region.
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Market Breakup by Product Type
• Baler Press
Market Breakup by Material Type
• Construction Waste
Market Breakup by Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global recycling equipment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Dover Corporation
• Vecoplan, LLC
• The CP Group
• Harris Waste Management Group, Inc.
• Sebright Products Inc.
• Mirage Packing Industries, LLC
• Coastal Wire Co.
• Environmental Recycling Services, Inc.
• Danieli Centro Recycling
• General Kinematics Corporation
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