PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1662690
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1662690
According to Stratistics MRC, the Global Resource Circulation Equipment Market is accounted for $20.08 billion in 2024 and is expected to reach $42.09 billion by 2030 growing at a CAGR of 13.1% during the forecast period. Resource circulation equipment is gear and systems designed to maximize resource reuse, recycling, and recovery, hence minimizing waste and encouraging sustainability. Waste materials are processed, separated, or converted into energy or reusable forms using these instruments in a variety of sectors. Shredders, balers, crushers, and sorting machines are a few examples that deal with materials including glass, metal, plastic, and biological garbage. Technologies like automation, AI-driven sorting, and energy-efficient procedures may be incorporated into advanced equipment. By prolonging the lifespan of materials and lowering dependency on virgin resources, resource circulation equipment aims to reduce environmental impact, conserve natural resources, and promote circular economies.
Rising Environmental Awareness
Rising environmental consciousness is propelling the Resource Circulation Equipment Market, boosting demand for sustainable solutions. Eco-friendly activities are becoming more and more important to consumers and organizations, which is driving the adoption of technology that makes recycling, waste reduction, and effective resource management easier. This change fosters technological innovation in favor of circular economies, which lessens their negative effects on the environment and facilitates the sustainable circulation of resources, hence driving market expansion.
High Initial Investment Costs
High initial investment prices stymie the growth of the resource circulation equipment industry by limiting access to small and medium-sized businesses (SMEs). The implementation of effective resource recycling technologies may be slowed by these companies' inability to get the funding required for sophisticated gear. Furthermore, exorbitant upfront expenses may put off potential investors, restricting market growth and delaying technical development.
Urbanization and Population Growth
Urbanization and population expansion raise demand for resource circulation equipment by increasing infrastructure and emphasizing the importance of effective waste management, recycling, and resource recovery. The demand for sustainable solutions to manage increasing trash volumes and maximize resource utilization grows as cities expand. In order to support a sustainable circular economy, this movement promotes investments in cutting-edge machinery and technology that enhance recycling procedures, trash sorting, and material recovery, thus it propels market expansion.
Inadequate Infrastructure in Developing Regions
Inadequate infrastructure in developing countries stifles the growth of the resource circulation equipment industry by restricting access to critical resources, technology, and skilled personnel. Implementing effective recycling and resource recovery procedures is challenging due to weak waste management infrastructure, poor transportation, and a restricted energy supply. As a result, resource circulation equipment is adopted more slowly, which limits market potential and hinders sustainability initiatives in these areas.
The COVID-19 pandemic disrupted the resource circulation equipment market by causing supply chain interruptions, factory shutdowns, and delayed project timelines. Reduced industrial activity and financial uncertainty led to decreased investments in new recycling technologies. However, the pandemic also highlighted the importance of sustainable practices, driving long-term interest in resource recovery solutions, as industries seek resilience through improved waste management and recycling systems.
The plastic recycling segment is expected to be the largest during the forecast period
The plastic recycling segment is expected to account for the largest market share during the forecast period, due to demand for advanced machinery and systems that optimize the sorting, processing, and repurposing of plastic materials. As more industries prioritize sustainability, the need for efficient recycling technologies grows, boosting the market for equipment such as shredders, crushers, and sorting machines. This trend supports the circular economy, reducing waste, conserving raw materials, and encouraging the development of innovative solutions for managing plastic waste more effectively.
The E-waste management segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the E-waste management segment is predicted to witness the highest growth rate as electronic trash increases, effective recycling technology is required to recover valuable materials such as metals, polymers, and rare earth elements. This stimulates the market for specialist machinery and opens up possibilities for innovation in resource recovery procedures. Stricter laws and growing environmental consciousness also encourage investments in environmentally friendly ways to manage and reuse e-waste, which boosts industry expansion.
During the forecast period, the North America region is expected to hold the largest market share because of growing environmental consciousness, waste reduction regulations, and a move toward sustainable methods. As governments and corporations prioritize the circular economy, there is an increasing need for recycling and waste management equipment. Technological developments in waste processing and resource recovery, as well as the demand for energy-efficient solutions, drive market expansion and encourage resource efficiency and environmental preservation across industries.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR due to increasing demand for sustainable waste management solutions and the rise in recycling initiatives. Government regulations promoting circular economy practices, along with growing environmental concerns, drive investments in resource recovery technologies. Additionally, industries adopting eco-friendly practices and technological advancements in recycling equipment contribute to market growth. The expanding population and urbanization further boost the need for efficient waste management solutions, enhancing the market's potential.
Key players in the market
Some of the key players in Resource Circulation Equipment market include ALIO Industries, ArvinMeritor, C Technologies, Doosan Lentjes, EnviroGroup Limited, Foster Wheeler, Hitachi Zosen Corporation, JFE Engineering Corporation, Kawasaki Heavy Industries Ltd., Koch Industries, Komptech GmBH, Lurgi AG, Metso Outotec, Sandvik AB, ShowaDenko, Techint Danieli, Tenova, ThermoSelect SA, Vecoplan AG and Zhejiang Feida.
In June 2024, Sandvik launched AI in the manufacturing software in alliance with Microsoft. A Manufacturing Copilot will be available when the next versions of the CAD/CAM software Cimatron, GibbsCAM and SigmaNEST.
In June 2022, Metso Outotec and Dynamox have entered into a global cooperation agreement on the usage of Dynamox's condition monitoring platform in mining and aggregates processes. Metso Outotec is offered the solution to its own installed equipment base; the partner agreement enables also third-party equipment monitoring, further strengthening the company's digital scalability and solution flexibility.
In May 2022, Metso Outotec and Malvern Panalytical announced collaboration focuses on developing and enhancing solutions for bulk ore sorting as part of Metso Outotec's Planet Positive initiative. This initiative is designed to promote sustainability in mining and other industries by providing environmentally friendly technologies and solutions.