The global waste recycling services market has come across as the most rapidly developing market. Numerous technological advancements are occurring in this market, thereby positively impacting the overall development. A large number of government initiatives across the globe are favoring the recycling of waste products, thereby significantly impacting the market growth. Moreover, the labor cost is at an economical rate is fuelling the growth of the waste recycling services market.
Factors such as increasing government initiatives towards waste product recycling, technological developments, and push for reuse of wastage materials is driving the growth of this market. Moreover, rising awareness towards the benefits of recycling among masses and increasing number of waste recycling companies are few other factors boosting the growth of the recycling industry. Various initiatives from government and subsidies given on products cut down the material costs, thereby encouraging the investment in business. Technological innovations and advancements in recycling procedures, that include biological and thermal technologies, is expected to drive the market during the forecast period. However, the high cost involved in waste recycling services will negatively impact the development of this market. Moreover, high utilization of natural resources within waste recycling services has also hampered the development of this market. Thus, the high demand and restricted supply will impede the growth of this market.
In Europe, construction and demolition waste has become a higher concern. The increase in waste and limited landfill space positively impacts the recycling efforts, thereby benefitting the development of waste recycling services market. Factors such as increasing government initiatives towards waste product recycling, technological developments, and push for reuse of waste materials is driving the growth of this market. Also, optimization of recycling and collection technologies is expected to increase the growth for waste recycling companies. By type of applications, the global waste recycling services market is divided into chemical, metallurgical, agriculture, textile, forestry, power and energy, and construction industry. Moreover, the waste recycling services market is further divided into automotive recycling, iron and steel, compost & food waste, battery recycling, glass & fiberglass, computer & electronics, Minerals, liquids oils & chemicals, multi-material collection, scrap plastic, waste paper, wood recycling, tire & rubber, waste disposal & collection, used commercial goods, used collectible items, used consumer items, and equipment.
The automotive segment is expected to hold a dominant position in the recycling services market and account for around 50% of the market share. Among all the segments, tire and rubber segment is expected grow at a sluggish rate in the near future. But, iron and steel is the other sub-segment of metal which is expected to garner over 50% of total revenue market in the near future. The global waste recycling services market is segmented on the basis of geography into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa (MEA). The Asia-Pacific is expected to dominate the market in coming years owing to the shift in production units from West to Asian region. Also, this production shift towards Asian recycling operations is highly dependent upon consumption and production. The North American and European region accounted for over 15% of the market share respectively. Japan is a significant market for the global waste recycling services market that has constructed over 300 waste-to-energy plants in the past years.
The major players in the global waste recycling services market are Eurokey Recycling Ltd., Northstar Recycling, Battery Council International, Amdahl Corporation, Epson Inc., Triple M Metal LP, Hewlett-Packard Development Company L.P., Interface Inc., Xerox Corp., Fetzer Vineyards, Collins & Aikman, Rubicon Global, and Zanker Road Landfill among others.
Market by Service Type
· Automotive recycling
· Iron and steel
· Compost & food waste
· Battery recycling
· Glass & fiberglass
· Computer & electronics
· Minerals, liquids oils & chemicals,
· Multi-material collection
· Others (scrap plastic waste paper, wood recycling, tire & rubber, waste disposal & collection, used commercial goods, used collectible items, used consumer items, and equipment)
Market by Application
· Power and energy
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
Introduction The global unconventional gas market’s value is expected to touch USD 258 billion by 2026 and the market is likely to grow with a CAGR of 9.2 % during the forthcoming years. Market Dynamics The government of the U.S. has been advancing demands in investigat
Introduction International power distribution component industry size is appreciated over USD 91 billion in 2018 and the industry is expected to surpass revenue of USD 147 billion by 2026. The market reflects the CAGR of 6.2% amid during the forthcoming years. Market Dynamics
Market Overview The global waste heat recovery system market is expected to register significant CAGR growth rate of 7.5% over forecast period. The waste heat recovery system market is expected to surpass US$ 78 Bn by the end of 2026. Market Dynamics Increasing focus of indus
Introduction The global gas turbine market size is anticipated to around USD 31.2 billion by 2026, this market is anticipated to grow with 5.0% CAGR during the forecast time period. The market is required to be driven by increasing pressure from worldwide organizations to diminish carbon impression, alongside low shale gas costs.
Introduction The global battery raw materials market size is anticipated to around USD 69.3 billion by 2026, this market is anticipated to grow with 7.3% CAGR during the forecast time period. Market Dynamics The business is probably going to profit by expanding use of lightwe
Introduction The diesel gensets is the mixture of an electric generator and diesel engine in order to produce electrical energy. This is an explicit case of engine initiator. A diesel density ignition mechanism is generally considered to run on diesel fuel, but a few types are used for other natural gas or liquid fuels. Diesel gensets are utilized in spots without association with a power lattice, or as cr