by The global recycling equipment market size was estimated at USD 28.24 billion in 2023 and is predicted to reach around USD 47.87 billion by 2033, growing at a CAGR of 5.42% from 2024 to 2033.
Key Points
- Asia Pacific dominated the market with the major market share of 41% in 2023.
- In the North America, the U.S. has recorded for more than 77% of the market share in 2023.
- By equipment, the baler press segment has held the largest market share in 2023.
- By equipment, the separator segment is expected to grow at a significant rate equipment during the forecast period.
- By processed material, the plastic segment has contributed more than 35% of market share in 2023.
- By processed material, the rubber segment is expected to expand rapidly during the forecast period.
The global recycling equipment market is experiencing robust growth driven by increasing environmental awareness, stringent government regulations, and the need for efficient waste management solutions. This market encompasses a wide range of equipment used in recycling processes, including shredders, balers, separators, and compactors. The demand for recycling equipment is propelled by the growing volumes of waste generated worldwide and the rising emphasis on sustainable practices across industries.
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Growth Factors
Several factors contribute to the growth of the recycling equipment market. First, the implementation of strict environmental regulations aimed at reducing landfill waste and promoting recycling initiatives is driving the adoption of recycling equipment. Second, technological advancements in recycling machinery, such as automation and AI integration, are improving efficiency and lowering operational costs for recyclers. Third, increasing public awareness about the importance of recycling and waste reduction is boosting demand for recycling equipment across residential, commercial, and industrial sectors.
Region Insights
The market for recycling equipment exhibits diverse trends across regions. In North America and Europe, stringent environmental regulations and strong government support for recycling initiatives are driving significant market growth. The Asia-Pacific region is witnessing rapid expansion due to urbanization, industrialization, and increasing adoption of sustainable practices in emerging economies like China and India. Latin America and the Middle East are also emerging as promising markets with growing investments in waste management infrastructure.
Recycling Equipment Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 5.42% |
| Recycling Equipment Market Size in 2023 | USD 28.24 Billion |
| Recycling Equipment Market Size in 2024 | USD 29.77 Billion |
| Recycling Equipment Market Size by 2033 | USD 47.87 Billion |
| Largest Market | Asia-Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Equipment, and By Processed Material |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recycling Equipment Market Dynamics
Drivers
Key drivers influencing the recycling equipment market include the rising cost of landfilling and waste disposal, which incentivizes businesses and municipalities to invest in recycling solutions. Moreover, the shift towards a circular economy model, where waste is viewed as a resource, is propelling the demand for advanced recycling equipment capable of processing diverse materials efficiently. Additionally, corporate sustainability initiatives and the growing trend of eco-friendly packaging are creating opportunities for equipment manufacturers.
Opportunities
The market presents numerous opportunities for stakeholders. Expansion into emerging markets with inadequate waste management infrastructure offers substantial growth potential. Innovation in recycling technologies, such as smart sorting systems and robotic waste handling, can enhance efficiency and attract new customers. Partnerships with government bodies and waste management companies to develop integrated recycling solutions can also open up lucrative avenues for market expansion.
Challenges
Despite favorable growth prospects, the recycling equipment market faces challenges such as high initial investment costs associated with advanced recycling machinery. Limited awareness and infrastructure in certain regions may slow down market penetration. Moreover, fluctuations in commodity prices and uncertainties in recycling markets can affect the profitability of recycling operations, posing challenges for equipment manufacturers and recyclers alike.
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Recycling Equipment Market Recent Developments
- In February 2024, Lidl launches a city-wide drinks packaging recycling scheme. The launch of the scheme is intended to go some way to preparing customers for Scotland’s nationwide deposit return scheme (DRS) for drinks packaging, which was due to be launched last August but was delayed until March 2024.
- In November 2023, Tomra Recycling Sorting, a business unit of Norway-based Tomra, launched the Innosort Flake for high throughput purification of plastic flakes. The Innosort Flake enables simultaneous flake sorting by color, polymer, and transparency, the company says. “The new Innosort Flake is designed to sort any color, any polymer, at the same time,” says Alberto Piovesan, global segment manager of plastics at Tomra Recycling Sorting. “It levels the playing field for recyclers and gives them maximum flexibility to respond to the respective market demands.
- In August 2023, Genius Machinery announced its highly sophisticated plastic washing recycling machine line. The plastic washing recycling machine line includes rigid washing plants as well as film washing plants. The rigid washing plants are designed to recycle post-consumer hard materials such as bottles, injection molding waste or scrap, pipes, e-waste, and other rigid materials. These systems produce uniform plastic flakes with high purity and low moisture content.
- In October 2022, the EREMA Group company was offering not only previously owned, customized plastics recycling machines but also a new machine that is made to stock and is therefore readily available at short notice. Launched in K 2022, the READYMAC system handles many standard applications in the post-consumer recycling segment and is an attractive option for customers who need a recycling solution on short notice without custom configuration.
Recycling Equipment Market Companies
- Recycling Equipment Manufacturing
- The CP Group
- American Baler
- Kiverco
- General Kinematics
- MHM Recycling Equipment
- Marathon Equipment
- Ceco Equipment Ltd.
- Danieli Centro Recycling
- ELDAN Recycling
- Metso
- Suny Group
- Forrec Srl Recycling
- BHS Sonthofen
- LEFORT GROUP
Segments Covered in the Report
By Equipment
- Baler Press
- Shredders
- Granulators
- Agglomerators
- Shears
- Separators
- Extruders
- Others
By Processed Material
- Metal
- Plastic
- Construction Waste
- Paper
- Rubber
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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