Global Market Insights, Inc. forecasts the recycling equipment and machinery market share to surpass USD 1.2 billion by 2025. The company announces the launch of its latest report on Global Recycling Equipment and Machinery market featuring the key industry trends across the machinery, processed material, and regional landscape.
The rising trend of recyclability of materials across major sectors including automotive, construction, etc. is a major factor fueling the worldwide recycling equipment and machinery industry. The need to curtail greenhouse gas emissions & carbon footprint and the active participation of the regulatory bodies to address the concern will also fuel the market size.
As per the report, plastic recycling equipment and machinery sector is poised to witness major gains over the coming eight years. Reportedly, worldwide approximately 8.5 billion tons of plastic is manufactured annually, out of which 6 billion tons ends into waste. According to the study, the plastic recycling and equipment machinery market is forecast to register a y-o-y growth rate of 6.3% over 2018-2025, with a target revenue of USD 470 million by 2025.
The key players profiled in the report are Danieli Centro Recycling, Lefort, Morita Holdings Corporation, Forrec Srl Recycling, BHS Sonthofen, Panchal Plastic Machinery Private Ltd, Mid Atlantic Waste Systems, Idromec Spa, Suny Group, and Roter Recycling. The companies have been profiled in terms of their product portfolio, SWOT assessment, and strategic outlook.
Key insights from the report include:
• Baler presses dominates the machinery landscape with a 30% share in the overall recycling equipment & machinery market.
• Metal bailing is anticipated to record a CAGR of 5.7% over 2018-2025, with a target revenue of USD 390 million by 2025.
• Asia Pacific market share is forecast to exceed USD 450 million by 2025, with China as a major revenue pocket.
For more information, visit https://www.gminsights.com/industry-analysis/recycling-equipment-and-machinery-market.