The global waste management equipment market size was valued at USD 45,756.9 million in 2019, and is projected to reach USD 55,637.9 million by 2027, registering a CAGR of 4.1% from 2020 to 2027.
Waste management equipment are used to transfer, collect, handle, and dispose waste in an effective manner. The waste recycling & sorting equipment are used to recycling or sorting waste materials. Waste management equipment are used to handle municipal, industrial, and hazardous waste properly.
Market Dynamics
The factors such as increase in urban population, surge in residential and non-residential construction, and rise in environmental awareness toward the industrial waste recycling drive the growth of the waste management equipment market. In addition, increase in urban population is expected to increase the amount of waste, which fuels the growth of the waste management equipment market. Further, according to the World Health Organization (WHO), the urban population globally is expected to grow by approximately 1.8% from 2015 to 2020. Moreover, an increase in environmental awareness toward industrial waste recycling is projected to cater to the growth of the global waste management equipment market.
Furthermore, high growth potential in emerging countries such as China, Africa, India, and other offers lucrative opportunities for the market players during the forecast period. For instance, in 2017, India adopted Swachh Bharat Mission for sustainable waste management program. Furthermore, the implementation of waste management practices in agriculture, construction, and logistics sectors is expected to strengthen the infrastructure of these economies. However, lack of awareness about waste management in developing countries is expected to hamper the waste management equipment market growth.
The COVID-19 pandemic has forced many companies in the global waste management equipment market to halt their business operations to comply with new government regulations for curbing the spread of COVID-19. This stop in operations directly affects the sales of the global waste management equipment market. In addition, there is a shortage in raw material supply to the manufacturers of waste management equipment. Hence, stop in manufacturing activities and lockdowns for several months have affected the global waste management equipment market, with slow recovery anticipated during 2020-2027.
By Product Type
Waste Recycling & Sorting Equipment segment is projected to grow at a significant CAGR
Further, according to the International Finance Corporation of World Bank, rise in amount of waste from industrial and medical areas was by around 40%. However, volume of medical waste from frequent use of products such as gloves, face masks, and test kits have considerably increased, owing to COVID-19, which has increased the medical waste. Further, a number of COVID-19 cases are expected to reduce in the future with safety majors taken by governments and vaccine for COVID-19 is likely to be introduced by the end of 2020 or at the earliest. This is further projected to rise to the re-opening of waste management companies and the waste recycling industry in full scale ability, which, in turn, would aid the market to recover by the start of 2022.
Based on product type, the market is divided into waste disposal equipment and waste recycling & sorting equipment. The waste disposal equipment is sub-divided into dumpsters, compactors, trucks, and others.
By Waste Type
Hazardous segment holds dominant position in 2019
The waste recycling & soring equipment is sub-divided into conveyor systems, screeners, shredders, and others. The waste recycling sorting segment generated the highest revenue in 2019. Based on waste type, the market is divided into hazardous waste and non-hazardous waste. The hazardous waste segment is projected to grow at a significant CAGR during the forecast period. By application, the market is divided into industrial waste, municipal waste, and others. The industrial segment is projected to generate highest revenue during the study period. Region wise, the global waste management equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Based on region, Asia-Pacific is expected to register fastest growth during the study period.
Competition Analysis
The key market players profiled in the waste management equipment industry report include Recycling Equipment Manufacturing, Inc, CP Manufacturing, Inc, Dover Corporation, Morita Holding Corporation, Tomra Systems ASA, Wastequip, LLC, Blue Group, KK Balers Ltd, Shred-Tech Corporation, and McNeilus Truck and Manufacturing, Inc.
The major players have adopted product launch as its key strategy to strengthen their market outreach and sustain the stiff competition in the market. For instance, in April 2020, HEIL, Inc, a subsidiary of Dover Corporation launched new HALF PACK Lowrider Front Loader. It is used to collect residential and commercial waste, and has a capacity of storing 4,150 pounds of waste material. Similarly, in February 2020, Torma Systems ASA launched new TORMA R1 Reverse Vending Machine in EuroShop Expo, Sweden. It has features such as recycling 100 empty drink containers at a time and is operated electronically.
By Region
Asia-Pacific is expected to grow at a highest rate during the forecast period.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging waste management equipment market trends and dynamics.
- In-depth market analysis is conducted by constructing estimations for the key segments between 2019 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive waste management equipment market analysis of all the regions is provided to determine the prevailing opportunities.
- The global waste management equipment market forecast analysis from 2020 to 2027 is included in the report.
- The key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the waste management equipment market.
Global Waste Management Equipmwent Market Segments
By Product Type
Waste Disposal Equipment
- Dumpsters
- Compactors
- Trucks
- Others
- Waste Recycling & Sorting Equipment
- Conveyor Systems
- Screeners
- Shredders
- Others
By Waste Type
Hazardous Waste
- Non-hazardous Waste
By Application
Industrial Waste
- Municipal Waste
- Others
By Region
North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Waste Management Equipment Market Report Highlights
| Aspects | Details |
 By PRODUCT TYPE |
|
 By WASTE TYPE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | TOMRA SYSTEMS ASA, MORITA HOLDING CORPORATION, KK BALERS LIMITED, RECYCLING EQUIPMENT MANUFACTURING, INC., DOVER CORPORATION, OSHKOSH CORPORATION (MCNEILUS TRUCK AND MANUFACTURING, INC.), SHRED-TECH CORPORATION, .CP MANUFACTURING, INC., BLUE GROUP., WASTEQUIP, LLC. |
Analyst Review
The waste management equipment market has witnessed significant growth over the past years, owing to rise in urban population. Moreover, the rise in amount of waste generated from medical and municipal sectors fuels the global waste management equipment market growth. Waste recycling & sorting equipment is projected to be the highest revenue contributor to the global waste management equipment market.
A rise in urban population, increase in migration rate, and surge in amount of waste generated are anticipated to drive the growth of the waste management equipment market. However, lack of awareness toward sustainable waste management in developing countries and high initial capital investments hinder the growth of the global waste management equipment market. On the other hand, high growth potential in developing economies such as China, India, and Brazil is expected to create lucrative opportunities for the waste management equipment market players during the forecast period.
The global waste management equipment market size was$45,756.9 million in 2019 and is projected to reach $55,637.9 million in 2027, growing at a CAGR of 4.1% from 2020 to 2027.
The base year considered in the global waste management equipment market is 2019.
To get latest version of waste management equipment market report can be obtained on demand from the website.
The forecast period considered for the global waste management equipment market is 2020 to 2027, wherein, 2019 is the base year, 2020 is the estimated year, and 2027 is the forecast year.
The report for global waste management equipment market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
On the basis of waste type, the hazardous segment is expected to be the most influencing segment growing in the global waste management equipment market report.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
Rise in industrial and commercial buildings construction, increase in volume of waste, and stringent implication towards sustainable waste management in developed countries are the key trends in the global waste management equipment market.
Lack of awareness in developing countries, and high initial capital investment are the effecting factors for global waste management equipment market.
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