PUBLISHER: The Business Research Company | PRODUCT CODE: 1414266
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414266
“Hazardous Waste Handling Automation Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hazardous waste handling automation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hazardous waste handling automation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The hazardous waste handling automation market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Hazardous waste handling automation refers to the utilization of technology and automated systems to improve the management, handling, and disposal of hazardous waste materials. This process incorporates various technologies, including robotics, artificial intelligence (AI), machine learning, sensors, and automation software, with the aim of automating and optimizing hazardous waste management procedures.
Key categories of hazardous waste handling automation encompass manipulator arms, telescoping masts, cranes, trusses, and size reduction systems. Manipulator arms are programmable, versatile mechanical devices employed to move tools, components, or materials based on pre-determined movements, enabling the execution of various operations. These arms are utilized in the treatment of diverse types of waste, such as listed wastes, characteristic waste, universal wastes, and mixed wastes. Their applications span across multiple end-user industries, including manufacturing, chemical, energy, consumer care, government, and others.
The hazardous waste handling automation market research report is one of a series of new reports from The Business Research Company that provides hazardous waste handling automation market statistics, including hazardous waste handling automation industry global market size, regional shares, competitors with a hazardous waste handling automation market share, detailed hazardous waste handling automation market segments, market trends and opportunities, and any further data you may need to thrive in the hazardous waste handling automation industry. This hazardous waste handling automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hazardous waste handling automation market size has grown rapidly in recent years. It will grow from $29.98 billion in 2023 to $33 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The expansion observed in the historical period can be ascribed to stringent environmental regulations, compliance with occupational safety and health standards, a rise in the volume of hazardous waste, emphasis on cost-efficiency and resource optimization, as well as efforts directed towards risk reduction and minimization.
The hazardous waste handling automation market size is expected to see strong growth in the next few years. It will grow to $46.61 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be attributed to the integration of technology in waste management, the promotion of circular economy principles and sustainable practices, adherence to global industry trends in waste reduction, fostering cross-sector collaborations, and increasing public awareness and environmental concerns. Key trends expected in the forecast period encompass the utilization of blockchain for compliance tracking, improvements in emergency response capabilities, the application of data analytics for decision-making, collaboration with technology providers, and a heightened focus on ensuring worker safety.
The hazardous waste handling automation market is poised for growth due to the escalating volume of waste. The rapid increase in population and urbanization has led to a surge in both hazardous and non-hazardous waste. While disposing of non-hazardous waste is relatively straightforward, the immediate attention required for hazardous waste disposal makes automation crucial. Hazardous waste handling automation ensures the safe disposal of such waste, mitigating risks to manual handlers and the environment. In February 2022, the World Bank reported that the global solid waste generated in 2020 amounted to 2.24 billion tons, with a daily per-person waste footprint of 0.97 kilograms. With the projected 73% increase in annual waste generation to 3.88 billion tons by 2050 due to population growth and urbanization, the hazardous waste handling automation market is expected to flourish.
The hazardous waste handling automation market is also expected to benefit from the growing environmental awareness. Recognizing the environment as a finite resource that requires protection and conservation is pivotal in driving the development and adoption of automation solutions for hazardous waste handling. A survey by Mastercard Inc. in April 2021 revealed that 85% of adults across 24 countries were willing to take action to address environmental challenges, with 58% being mindful of their environmental impact. This heightened environmental awareness is contributing to the growth of the hazardous waste handling automation market.
A notable trend in the hazardous waste handling automation market is the advancement of new products. Companies in this market are embracing new technologies to enhance hazardous waste management, securing their positions. For example, in January 2022, Forth Engineering (Cumbria) Limited introduced a robotic arm mimicking human mechanics, designed for the safe and remote removal of waste from flammable liquids. This innovation streamlines the hazardous waste handling process, eliminating the time-consuming manual sifting previously required.
Major players in the hazardous waste handling automation market are actively pursuing technological innovations, including AI-based automated material identification (AMI), to gain a competitive edge. AMI, a rapidly evolving technology, has the potential to transform material identification and tracking across various industries. In June 2022, AMCS Group launched AMCS Vision AI, an artificial intelligence-driven computer vision solution. This technology digitizes images of resource streams and service events, providing automated and continuous insights. AMCS Vision AI is a valuable tool for waste and recycling companies, offering improved operational efficiency, cost reduction, and resource optimization. It detects pollution and overfilled containers at the curbside by automatically analyzing material streams, leveraging the latest advancements in AI technology.
In April 2022, Terex Corp acquired Zen Robotics Oy for an undisclosed amount. This strategic move aims to transform global waste into clean raw materials and actualize the circular economy. Terex's commitment to environmental business and Environment, Social, and Governance (ESG) goals aligns with Zen Robotics Oy's expertise in robotic recycling technology, making this acquisition a significant step forward in the hazardous waste handling automation market.
Major companies operating in the hazardous waste handling automation market report are Hydrauliska Industri AB, Clean Harbors Inc., Konecranes Oyj, Penz Crane GmbH, PaR Systems Inc., Autosales Incorporated., Floatograph Technologies, Pallmann, Hosokawa Micron Powder Systems, Terex MHPS GmbH, Cargotec Corp., Covanta Holding Corp., Orange Business Services, Fritz Schafer GmbH, Vecoplan AG, BHS-Sonthofen GmbH, Buhler 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., Bigbelly Inc., Fomento de Construcciones y Contratas Environment Limited, Green For Life Environmental Inc., Meridian Waste, Progressive Waste Solutions Ltd., Recology, Rumpke Consolidated Companies Inc.
North America was the largest region in the global hazardous waste handling automation market in 2023. 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
The countries covered in the hazardous waste handling automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The hazardous waste handling automation market includes revenues earned by entities by providing services that include consulting and assessment of waste generation, and training and support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The hazardous waste handling automation market consists of sales of robotic systems, automation software and sensor technologies. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.