Waste Management Equipment Market Size, Share, Forecast, 2020–2027 | By Product Type, Application

According to a new report published by Allied Market Research, titled, “Waste Management Equipment Market by Product Type, Waste Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global waste management equipment market size was $45,756.9 million in 2019, and is projected to reach $55,637.9 million by 2027, registering a CAGR of 4.1% from 2020 to 2027. In 2019, the industrial segment dominated the global market, accounting for approximately half of the global waste management equipment market share.

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The global waste management equipment market is expected to grow, owing to an increase in the urban population globally and stringent government regulations toward environmental safety. In addition, an increase in the amount of waste generated in municipal and industrial sectors is projected to garner the growth of the market.

Moreover, government initiatives such as, in India, Swachh Bharat Abhiyan, support the e-waste management program. Moreover, high growth potential in emerging regions such as Asia-Pacific and LAMEA is projected to provide lucrative opportunities for the growth of the waste management equipment market. Further, a rise in the amount of waste such as papers, masks, sanitizer, cardboard, and others generated from the medical and pharmaceutical sectors is expected to fuel the growth of the market.

Waste disposal equipment includes dumpers, compactors, trucks, and others. This equipment is used to collect garbage and transport it to the landfill stations. The waste disposal equipment segment is further divided into dumpers, compactors, trucks, and others. The waste recycling & sorting equipment segment is sub-classified into conveyor systems, screeners, shredders, and others. In addition, an increase in industries and the commercial sector has also led to a rise in the amount of waste.

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During the lockdown, owing to coronavirus, the waste mainly increased from medical and residential areas compared to commercial and industrial centers, as offices and industries were partially or completely shut down. Furthermore, the supply chain of the waste management equipment stopped, owing to a shortage of raw materials. However, the reopening of manufacturing activities and the launch of medical vaccines for coronavirus disease are projected to steer the re-opening of waste management equipment companies at their full-scale capacities.

Key Segments

The global waste management equipment market is segmented on the basis of product type, waste type, application, and region. On the basis of product type, the market is divided into waste disposal equipment, and waste recycling & sorting equipment. The waste disposal equipment segment is sub-segmented into dumpers, compactors, trucks, and others. The waste recycling & sorting equipment segment is further segregated into conveyor systems, screeners, shredders, and others. The waste sorting & recycling equipment segment dominated the market in 2019. On the basis of waste type, it is classified into hazardous waste and non-hazardous waste. The hazardous waste segment is expected to be the dominant segment during the forecast period. On the basis of application, the market is divided into industrial waste, municipal waste, and others. In 2019, the industrial segment held the majority of the market share.

By Region

Region-wise, the waste management equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is the fastest-growing segment throughout the study period.

Key Players

The key players profiled in the waste management equipment market 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 Trucks & Manufacturing, Inc.

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