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Hazardous Waste Handling Automation Market Trends That Will Shape the Next Decade: Insights from Product Innovations In Hazardous Waste Handling Automation Market
Hazardous Waste Handling Automation
How Large Will the Hazardous Waste Handling Automation Market Size By 2025?
The automation market for hazardous waste handling has seen a significant increase in size over the recent years. The market value is set to rise from $32.26 billion in 2024 to $34.73 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.7%. Factors contributing to the growth during the historical period include rigid environmental rules, meeting occupational safety and health norms, heightened hazardous waste volume, cost-effectiveness and resource optimization, and a focus on reducing and minimizing risks.
How Big Is the Hazardous Waste Handling Automation Market Size Expected to Grow by 2029?
Expectations are high for the hazardous waste handling automation market to experience swift growth in the upcoming years, with projections hitting $51.26 billion in 2029. This translates to a Compound Annual Growth Rate (CAGR) of 10.2%. The anticipated expansion in this forecast period is primarily due to the merger of technology with waste management, implementation of a circular economy, sustainable practices, global trends leaning towards waste reduction, collaboration across various sectors, societal awareness, and attention to environmental issues. Key trends for the forecast period include the use of blockchain for compliance monitoring, improved emergency response, data-driven decision-making, strategic partnerships with tech providers, and prioritizing worker safety.
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Which Key Market Drivers Powering Hazardous Waste Handling Automation Market Expansion and Growth?
The escalating levels of waste are projected to stimulate the expansion of the hazardous waste handling automation market in the future. The swift surge in population and urbanization has contributed to a greater volume of waste, encompassing both hazardous and non-hazardous varieties. The disposal of non-hazardous waste might be relatively simple; however, hazardous waste requires urgent processing. Automated management of hazardous waste facilitates the safe elimination of such waste that could otherwise endanger manual workers and the ecosystem. For instance, in February 2024, the UN Environment Programme released a report from a Kenya-based institution, which suggests that municipal solid waste production is predicted to rise from 2.3 billion tonnes in 2023 to 3.8 billion tonnes by 2050. Consequently, the increasing amount of waste is fueling the growth of the hazardous waste handling automation market.
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Which Fast-Growing Trends Are Poised to Disrupt the Hazardous Waste Handling Automation Market?
The increasing development of new automation products for hazardous waste handling is an emerging trend in the hazardous waste handling automation market. Firms engaged in the hazardous waste handling automation market are embracing new technologies for improved management of hazardous waste in order to maintain their market presence. For instance, in January 2022, Forth Engineering (Cumbria) Limited, a company from the UK that excels in designing, manufacturing, and installing equipment for hazardous waste handling, proclaimed the introduction of a robot arm. This arm replicates the dynamics of a human arm, allowing it to safely and remotely eliminate waste from flammable liquids. It allows companies to precisely target certain materials in the hazardous waste and securely move them to a prearranged waste disposal area, eliminating the previously tedious process of sorting at the end.
What Are the Emerging Segments in the Hazardous Waste Handling Automation Market?
The hazardous waste handling automationmarket covered in this report is segmented -
1) By Type: Manipulator Arms, Telescoping Masts, Cranes, Trusses, Size Reduction Systems
2) By Waste: Listed Wastes, Characteristic Waste, Universal Wastes, Mixed Wastes
3) By End-User Industry: Manufacturing, Chemical, Energy, Consumer Care, Government, Other End Users
Subsegments:
1) By Manipulator Arms: Robotic Arms, Articulated Manipulators, Linear Manipulators
2) By Telescoping Masts: Fixed Telescoping Masts, Adjustable Telescoping Masts, Pneumatic Telescoping Masts
3) By Cranes: Overhead Cranes, Gantry Cranes, Mobile Cranes
4) By Trusses: Modular Trusses, Fixed Trusses, Adjustable Trusses
5) By Size Reduction Systems: Shredders, Crushers, Granulators
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Who Are the Global Leaders in the Hazardous Waste Handling Automation Market?
Major companies operating in the hazardous waste handling automation market include Clean Harbors Inc., Konecranes Oyj, Penz Crane GmbH, PaR Systems Inc, Pallmann, Hosokawa Micron Powder Systems, Ter*ex MHPS GmbH, Cargotec Corp., Covanta Holding Corp., Fritz Schäfer GmbH, Vecoplan AG, BHS-Sonthofen GmbH, Bühler Group, ANDRITZ AG, Komptech Group, Ecolab Inc., Veolia Environnement S.A., SUEZ India Private Limited, Stericycle Inc., Cleanaway Waste Management Limited, Remondis SE & Co. KG, Republic Services Inc., Advanced Disposal Services Inc., Casella Waste Systems Inc., Fomento de Construcciones y Contratas Environment Limited, Green For Life Environmental Inc., Meridian Waste, Progressive Waste Solutions Ltd., Recology, Rumpke Consolidated Companies Inc.
Which are the Top Profitable Regional Markets for the Hazardous Waste Handling Automation Industry?
North America was the largest region in the global hazardous waste handling automation market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hazardous waste handling automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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