The global recycling equipment market size surpassed USD 28.24 billion in 2023 and is anticipated to be worth around USD 47.87 billion by 2033, growing at a CAGR of 5.42% from 2024 to 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.
The global recycling equipment market is experiencing robust growth driven by increasing environmental concerns, government initiatives promoting recycling, and a shift towards sustainable practices across industries. This market encompasses a diverse range of equipment used for processing and sorting recyclable materials such as plastics, metals, paper, and glass. Key segments within the market include shredders, balers, sorting systems, crushers, and granulators. The demand for recycling equipment is expected to escalate as businesses and governments prioritize waste management and resource conservation.
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Growth Factors
The growth of the recycling equipment market is propelled by several factors. Stringent environmental regulations aimed at reducing landfill waste and carbon emissions are encouraging industries to adopt recycling solutions. Moreover, the rising awareness among consumers regarding the benefits of recycling and circular economy principles is driving demand for advanced recycling equipment. Technological advancements, such as automation and AI-driven sorting systems, are enhancing efficiency and reducing operational costs, further fueling market growth.
Region Insights
Regionally, the market for recycling equipment exhibits diverse trends. Developed regions like North America and Europe have well-established recycling infrastructures supported by government policies and public awareness campaigns. In Asia Pacific, rapid industrialization and urbanization are driving demand for recycling equipment to manage escalating waste volumes. Emerging economies in Latin America and Africa are also witnessing increasing adoption of recycling equipment due to growing environmental concerns and improving waste management practices.
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 influencing the recycling equipment market include growing concerns over resource depletion and pollution, prompting businesses to invest in sustainable waste management solutions. The emergence of circular economy models, where materials are reused and recycled to minimize waste, is creating a favorable environment for equipment manufacturers. Additionally, economic incentives such as subsidies and tax benefits for recycling initiatives are encouraging industries to adopt recycling equipment and processes.
Opportunities
The market presents significant opportunities for innovation and expansion. Advancements in sensor technology and material identification systems are enabling more efficient sorting and processing of recyclable materials. There is also a rising demand for mobile and compact recycling equipment, particularly in urban areas where space is limited. Collaborations between equipment manufacturers and waste management companies to develop integrated solutions are likely to drive market growth and address evolving customer needs.
Challenges
Despite the promising growth outlook, the recycling equipment market faces challenges. High initial costs associated with advanced recycling machinery may deter small and medium-sized businesses from investing in these solutions. Moreover, varying recycling infrastructure and regulatory frameworks across regions pose challenges for market penetration and standardization. Additionally, the quality and purity requirements for recycled materials present technical challenges in processing and sorting, impacting equipment design and performance.
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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.
Recycling Equipment Market Companies
- Recycling Equipment Manufacturing
- The CP Group
- American Baler
- Kiverco
- General Kinematics
- MHM Recycling Equipment
- Marathon Equipment
- Ceco Equipment Ltd.
- Danieli Centro Recycling
- ELDAN Recycling
- Metso
- Suny Group
- Forrec Srl Recycling
- BHS Sonthofen
- LEFORT GROUP
Segments Covered in the Report
By Equipment
- Baler Press
- Shredders
- Granulators
- Agglomerators
- Shears
- Separators
- Extruders
- Others
By Processed Material
- Metal
- Plastic
- Construction Waste
- Paper
- Rubber
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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