Recycling Equipment Market Forecasts to 2028 – Global Analysis By Equipment Type (Baler Press, Shredders, Granulators, Agglomerators and Shears), Material Type (Metal, Plastic, Construction Waste, Wood and Paper & Cardboard) and By Geography

Recycling Equipment Market Forecasts to 2028 – Global Analysis By Equipment Type (Baler Press, Shredders, Granulators, Agglomerators and Shears), Material Type (Metal, Plastic, Construction Waste, Wood and Paper & Cardboard) and By Geography

According to Stratistics MRC, the Global Recycling Equipment Market is accounted for $27.21 billion in 2022 and is expected to reach $41.75 billion by 2028 growing at a CAGR of 7.4% during the forecast period. Recycling is the process of reclaiming scrap or waste that is not biodegradable and turning it into useful products. Separating solid waste from other scrap material with the aid of recycling machinery and equipment enables the use of the remaining scrap in the recycling process. Businesses that recycle materials can reuse materials like ferrous and non-ferrous metal, plastic, rubber, wood, glass, textiles, and many other materials thanks to modern equipment and machinery. Construction materials, electronics, and other scrap products, such as discarded auto parts, are gathered from scrap collecting companies and are then further reshaped and shrunk using recycling machinery and tools.

According to the U.S. Recycling Economic Informational Study, there are over 50,000 recycling establishments that have created over a million jobs in the US.

Market Dynamics

Driver

Growing Environmental Concerns

The global Recycling Equipment market expected to drive growth during the forecast period. The main element fueling the expansion of the market for recycling equipment is the rising awareness of the value of recycling. Recycling waste materials contributes to the preservation of natural resources and the reduction of environmental pollution. An increase in demand for recycling equipment is being caused by the need to lessen carbon emissions and protect the environment from pollution's harmful effects.

Restraint

High Initial Expenditure

The global Recycling Equipment market expected to hinder growth during the forecast period. Equipment for recycling is expensive and requires a large upfront investment. For small and medium-sized businesses that cannot afford to invest a significant sum of money in recycling equipment, this is a major constraint.

Opportunity

Strict government regulations

The global Recycling Equipment market expected to drive growth during the forecast period. Strict laws are being implemented by the governments of various nations to encourage recycling and lessen environmental pollution. The government is encouraging the use of recycling equipment because landfill sites are overflowing with waste. The strict government regulations are expected to cause the market for recycling equipment to expand quickly.

Threat

Lack of awareness

Even though recycling equipment is becoming more popular, problems with product acceptance in developing nations could impede market growth over the projected period of time. This is a result of consumer perceptions of recycled plastics, such as contamination and a lack of strength and durability. These elements could hinder the growth of the recycling machinery and equipment market in the upcoming years.

Covid-19 Impact

COVID-19 pandemic was spread across the globe in 2020. Major end-use industries, including construction, automotive, aerospace, and electronics, were shut down in 2020 due to the COVID-19 pandemic. This had a negative impact on the growth of the recycling equipment industry because there was no waste generated by these industries. Scrap recycling was a necessary service, so it was fully operational, but business was very slow. The demand for recycling equipment was negatively impacted in 2020 as a result of border closures and decreased waste production from end-use industries.

The plastic segment is expected to be the largest during the forecast period

The plastic segment industry will dominate the market during the forecast period and make up 33.4% of total revenue. This is explained by the increased use of recycled plastic in end-use sectors like electrical and electronics, automotive, and construction. Over the course of the forecast period, the market for plastic recycling equipment is anticipated to be driven by numerous laws and regulations imposed by governments for the disposal of plastic waste. The focus of various regulatory bodies on reducing and recycling plastic waste has increased as a result of growing concern from a variety of industries.

The separators segment is expected to have the highest CAGR during the forecast period

The separators segment is anticipated to witness the highest CAGR growth during the forecast period. One of the most crucial recycling procedures for classifying scrap material is separation. Environmental protection through the use of waste materials is a growing need in manufacturing. By maintaining recycling waste storage facilities, every industry is doing its part to be environmentally friendly. The next step is to use separators to separate the recyclable waste containers into batches that can be used, even though this may seem like a significant part of the process. The difficult task of sorting waste and useless items into groups that can be used as raw materials is a crucial step in the waste reclamation process.

Region with largest share

The recycling equipment market in Europe held the largest market share during the forecast period. The demand for recycling equipment is expected to rise in Europe over the course of the forecast period as a result of a number of initiatives and strict governmental regulations regarding waste recycling. Infrastructural and development projects are being funded by the governments of many European countries, which is expected to benefit the market because construction activities use a variety of recyclable materials.

Region with highest CAGR

The North American recycling equipment market is anticipated to grow significantly between 2023 and 2032. Strict government regulations governing waste management, an increase in demand for recycled goods, and a rise in consumer awareness of sustainable waste management practices are some of the major factors boosting market statistics in the area. The United States and Canada are the two countries in North America that contribute most to market growth. Additionally, the North American recycling equipment market in the United States had the largest market share, while the market in Canada had the fastest rate of growth.

Key players in the market

Some of the key players in Recycling Equipment market include American Baler, ANDRITZ Group, BHS Sonthofen, Ceco Equipment Ltd., CP Manufacturing Inc., Danieli Centro Recycling, Eldan Recycling, Forrec Srl Recycling, Gamma Meccanica S.p.A., General Kinematics Corporation, Indromec Spa, LEFORT GROUP, Marathon Equipment, MHM Recycling Equipment, Mortia Holdings Corporation, Recycling Equipment Manufacturing, Shred-Tech Corporation, Suny Group, The Cp Group and Vecoplan AG.

Key Developments

In February 2023, Partnership between Flowserve and Clariter was announced with a goal of minimizing or eliminating plastic waste through chemical recycling facilities. They are looking for innovative and environmentally friendly pump and valve lubricant compositions made from recovered plastic waste.

In December 2022, Pilot facility for the chemical recycling of acrylic resin was built by Sumitomo Chemical. This is a significant effort to gather acrylic plastic scraps and use recycling technology on them, showing off the most recent advancements in plastic recycling equipment.

In October 2021, Clean Harbors, Inc. has announced the achievement of its acquisition of HydroChemPSC, The acquisition was backed through a combination of present cash and proceeds from Clean Harbors’ new Incremental Term Loan with the conjunction transaction.

Equipment Types Covered
• Baler Press
• Shredders
• Granulators
• Agglomerators
• Shears
• Separators
• Extruders
• Other Equipment Types

Material Types Covered
• Metal
• Plastic
• Construction Waste
• Wood
• Paper & Cardboard
• Ferrous & Non-Ferrous
• Rubber
• Other Material Types

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements