Global resource circulation equipment market to reach $17.65 billion by 2019

ALBANY, USA: Transparency Market Research has released a new market report titled "Resource Circulation Equipment Market for Automotive, Construction, Electrical & Electronics, Paper, Plastic & Polymers, Metal, Oil & Gas and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019," which observes that resource circulation equipment market has generated revenue of $10.70 billion in 2012 and is expected to reach $17.65 billion by 2019, growing at a CAGR of 7.5 percent from 2013 to 2019.

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 and Europe, 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 percent 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 percent of the total resource circulation equipment market in 2012, followed by Asia Pacific and Europe. 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 percent share in total revenue generated by the industry in 2012 and is expected to exhibit moderate CAGR of about 6.5 percent 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.