Efficient waste management is the key to maintain good hygiene levels. The rapidly growing population and the rise in the rate of urbanization are leading to the accumulation of waste on a massive scale. For good segregation and precise management of waste, superior-quality waste management equipment is necessary. Hence, the global waste management equipment market may garner expansive growth prospects on this factor during the assessment period of 2020-2030.
Waste management equipment is used in various applications such as e-waste recycling, chemical waste, municipal waste recycling, scrap metal recycling, commercial dry waste, and construction waste recycling. The utilization of waste management equipment in ubiquitous applications may bring tremendous growth opportunities during the forecast period.
Based on product type, the waste management equipment market can be classified into cart lifters, dumpers truck, feeders, shredders, conveyors systems, sorting equipment, compactors, balers, grinders and granulators, and others.
This report presents various growth aspects to the stakeholders that help them achieve magnifying growth in the waste management equipment market. The scrutinized analysis of each aspect related to the growth of the waste management equipment market will be displayed in this report. A proper analysis of TMRs (Trends, Manufacturers, and Regions) etched with the waste management equipment market is reflected in the report.
The report also includes details about the COVID-19 impact on the waste management equipment market and the vital threats that the waste management equipment market may face between 2020 and 2030.
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Waste Management Equipment Market: Industrial Aspects
The presence of numerous players in the waste management equipment market makes it a good fit in the highly fragmented category. The market is hybrid with a large presence of both local and international players. The players are involved in intense research and development activities that help them to explore novel insights into the waste management equipment technology. Manufacturers in the waste management equipment market also try to make the products cost-effective to reach to a large consumer base.
The medical waste scenario is transforming rapidly due to the novel coronavirus pandemic. Manufacturers in the waste management equipment market are developing waste management equipment in tandem with the requirements of hospitals and COVID-19 care centers to effectively dispose of the medical waste.
Expansion of production capacities is proving to be a beneficial aspect for the growth of the waste management equipment market. For instance, Linder Recyclingtech recently expanded its production facilities by starting a new factory spread over 45000 square meters. Major players in the waste management equipment market are Tomra Systems, General Kinematics Corporation, Dover Corporation, and Wastequip, LLC.
Waste Management Equipment Market: Recent Developments
The waste management equipment market is abuzz with constant developments. Here are some significant developments across major product types.
Garbage Truck: Electric garbage trucks are gaining substantial momentum. Mack trucks will start manufacturing electric garbage trucks from 2021 and cities like New York are already testing electric garbage trucks.
Baler: Presona, a Sweden-based company recently created a new baler, MP 270 MH that claims to reduce recycling costs and increases operational efficiency.
Sorting Equipment: IT Recycla’s e-waste processing unit recently added an eddy current separator that sorts out materials containing waste substances.
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Waste Management Equipment Market: Geographical Prospects
Asia Pacific may emerge as a prominent growth-contributing region due to the alarming need for effective waste management in densely populated countries like India and China. Various government policies in diverse countries regarding waste management are further inviting good growth opportunities for the waste management equipment market. North America may also garner substantial growth during the assessment period of 2020-2030 on the back of the rising awareness and technological improvements in waste management mechanisms.
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