Recycling Equipment Market Size to Worth USD 47.87 Bn By 2033

Prathamesh

11 months ago

The global recycling equipment market size is expected to increase USD 47.87 billion by 2033 from USD 28.24 billion in 2023 with a CAGR of 5.42% between 2024 and 2033.

Key Points

Asia Pacific dominated the market with the major market share of 41% in 2023.
In the North America, the U.S. has recorded for more than 77% of the market share in 2023.
By equipment, the baler press segment has held the largest market share in 2023.
By equipment, the separator segment is expected to grow at a significant rate equipment during the forecast period.
By processed material, the plastic segment has contributed more than 35% of market share in 2023.
By processed material, the rubber segment is expected to expand rapidly during the forecast period.

Recycling Equipment Market Size 2024 to 2033

The global recycling equipment market is witnessing steady growth driven by increasing environmental concerns, government initiatives promoting sustainable practices, and rising awareness about waste management. This market encompasses a diverse range of equipment used for sorting, processing, and handling recyclable materials such as plastics, metals, paper, and glass. Key market players are focusing on technological advancements to improve efficiency and address evolving recycling needs, contributing to market expansion and innovation.

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Growth Factors

Several factors contribute to the growth of the recycling equipment market. Heightened emphasis on reducing waste generation and promoting circular economy models is propelling demand for recycling solutions. Growing urbanization and industrialization are generating substantial volumes of recyclable waste, driving the need for efficient equipment to process and recycle these materials. Additionally, stringent regulations aimed at minimizing landfill waste are encouraging investments in recycling infrastructure, fostering market growth globally.

Region Insights

The market for recycling equipment exhibits regional variations influenced by factors such as waste generation rates, regulatory frameworks, and industrialization levels. Developed regions like North America and Europe have well-established recycling infrastructures supported by government policies and robust recycling programs. In contrast, emerging economies in Asia-Pacific and Latin America are witnessing rapid growth in recycling equipment adoption due to increasing urbanization and initiatives to curb environmental pollution.

Recycling Equipment Market Scope

Report Coverage	Details
Growth Rate from 2024 to 2033	CAGR of 5.42%
Recycling Equipment Market Size in 2023	USD 28.24 Billion
Recycling Equipment Market Size in 2024	USD 29.77 Billion
Recycling Equipment Market Size by 2033	USD 47.87 Billion
Largest Market	Asia-Pacific
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Equipment, and By Processed Material
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Recycling Equipment Market Dynamics

Drivers

Key drivers accelerating the adoption of recycling equipment include growing public awareness about environmental sustainability, which is encouraging individuals and businesses to adopt recycling practices. Additionally, advancements in recycling technologies, such as AI-enabled sorting systems and robotic sorting solutions, are enhancing the efficiency and cost-effectiveness of recycling operations. Moreover, collaborations between governments, industry stakeholders, and non-profit organizations are driving investments in recycling infrastructure, further propelling market growth.

Opportunities

The recycling equipment market offers significant opportunities for innovation and market expansion. Investments in research and development to develop next-generation recycling technologies could unlock new market segments and applications. Leveraging digitalization and IoT integration in recycling equipment can enhance operational efficiency and optimize resource utilization. Furthermore, expanding into untapped markets and partnering with local waste management entities can open up new revenue streams for equipment manufacturers and service providers.

Challenges

Despite growth prospects, the recycling equipment market faces challenges such as high initial investment costs associated with advanced recycling technologies. Inconsistent quality of recycled materials and contamination issues pose operational challenges for recyclers. Moreover, the lack of standardized regulations across regions and limited awareness among consumers about the importance of source separation contribute to market complexities. Overcoming these challenges will require collaborative efforts from industry stakeholders and policymakers to drive sustainable growth in the recycling equipment market.

Recycling Equipment Market Recent Developments

In February 2024, Lidl launches a city-wide drinks packaging recycling scheme. The launch of the scheme is intended to go some way to preparing customers for Scotland’s nationwide deposit return scheme (DRS) for drinks packaging, which was due to be launched last August but was delayed until March 2024.
In November 2023, Tomra Recycling Sorting, a business unit of Norway-based Tomra, launched the Innosort Flake for high throughput purification of plastic flakes. The Innosort Flake enables simultaneous flake sorting by color, polymer, and transparency, the company says. “The new Innosort Flake is designed to sort any color, any polymer, at the same time,” says Alberto Piovesan, global segment manager of plastics at Tomra Recycling Sorting. “It levels the playing field for recyclers and gives them maximum flexibility to respond to the respective market demands.
In August 2023, Genius Machinery announced its highly sophisticated plastic washing recycling machine line. The plastic washing recycling machine line includes rigid washing plants as well as film washing plants. The rigid washing plants are designed to recycle post-consumer hard materials such as bottles, injection molding waste or scrap, pipes, e-waste, and other rigid materials. These systems produce uniform plastic flakes with high purity and low moisture content.
In October 2022, the EREMA Group company was offering not only previously owned, customized plastics recycling machines but also a new machine that is made to stock and is therefore readily available at short notice. Launched in K 2022, the READYMAC system handles many standard applications in the post-consumer recycling segment and is an attractive option for customers who need a recycling solution on short notice without custom configuration.