Recycling Equipment & Machinery market is likely to witness a CAGR of 6.3% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
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Recycling Equipment & Machinery market is likely to witness a CAGR of 6.3% during the forecast period. The prime factors driving the recycling equipment & machinery market are rising concern towards industrial waste, depleting natural resources, and increasing government initiatives towards recycling of materials.
Europe is estimated to be the largest market for recycling equipment & machinery during the forecast period. Growing concern towards plastic and other waste, stringent regulations towards reducing and recycling waste materials, and increasing participation from private players have led to the dominance of Europe in the global recycling equipment & machinery market. North America and Asia-Pacific are also expected to witness a healthy demand for recycling equipment & machinery owing to rising concern towards packaging waste and growing demand for sustainable packaging.
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Report Scope & Market Segmentation
Recycling Equipment & Machinery Market Share: By Machine Type
Based on the machine type, the market is segmented as baler press, shredders, shears, granulators, agglomerators, extruders, and others. The baler press segment dominated the market in 2019 and is expected to maintain its position during the forecast period. Baler press machines are widely used to recycle plastic materials. They are cost effective in compressing waste and minimize the convenience charges required to transfer the material.
Recycling Equipment & Machinery Market Share: By Material Type
Based on the material type, the recycling equipment & machinery market is segmented as plastic; ferrous & non-ferrous, wood, paper & card board; rubber, and others. The plastic segment holds the largest share of the market and is also expected to witness a healthy growth during the forecast period. Growing concern towards plastic waste from a wide array of industries has led to increased focus of various regulatory bodies curb and recycle it.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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