Albany, NY -- (SBWIRE) -- 05/27/2014 -- Resource Circulation Equipment Market has generated revenue of USD 10.70 billion in 2012 and is expected to reach USD 17.65 billion by 2019, growing at a CAGR of 7.5% from 2013 to 2019.
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Resource circulation equipment deals with the processing of solid waste. The resource circulation process entails activities pertaining to the collection, sorting, processing, and transferring of solid waste to convert it into usable raw material, or conversion of waste into fuel or any form of energy. Such equipment has a wide application range and is used in almost all forms of waste-to-energy generation. The growing environmental concerns and government regulations in North America andEurope, as well as rapid economic growth in Asia Pacific is expected to remain the major driving force for the resource circulation equipment market. High initial cost of setting up of recycling facilities is expected to be a key challenge for market participants.
Electrical and electronic device recycling and construction recycling applications dominated the global resource circulation equipment market and collectively accounted for over 36% share of total revenue generated in 2012. The other application segments where resource circulation equipment are employed include automotive recycling, plastic and polymer recycling, paper recycling, metal recycling among others. Growing electrical and electronic waste and the need of recycling this waste is expected to be the key growth market for resource circulation equipment over the next few years.
North America accounted for 39.5% of the total resource circulation equipment market in 2012, followed by Asia Pacific andEurope. The demand for resource circulation equipment in Asia Pacific region is expected to exhibit rapid growth in the coming years. Moreover, stringent environmental regulations regarding recycling of hazardous industrial waste in developed countries is expected to shift the recycling industry towards underdeveloped countries in Asia Pacific and RoW region with lax environmental regulations. This is expected to be the major growth driver for the resource circulation equipment market in these regions. Europe is also one of the major markets for resource circulation equipment with over 20% share in total revenue generated by the industry in 2012 and is expected to exhibit moderate CAGR of about 6.5% from 2013 and 2019. Kawasaki Heavy Industries Ltd., Vecoplan AG, Metso, Foster Wheeler, Wolf Material Handling Systems, are some of the major participants in the resource circulation equipment industry.
Resource Circulation Equipment Market - Application Segment Analysis
Electrical and electronics
Plastic and Polymer
Oil and Gas
Others (Agriculture, medical etc.)
Resource Circulation Equipment Market - Regional Analysis
Rest of the world
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