Research Nester has released a report titled “SAARC Waste Handling Equipment Market – Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the SAARC waste handling equipment market in terms of market segmentation by equipment type and by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The SAARC waste handling equipment market is segmented by equipment type into dumper truck, loaders, feeders, shredders, compactors, cart lifters, conveyer systems, grinders & granulators and others, out of which, the dumper truck segment accounted for a market share of 24.65% in the year 2018, along with a value of USD 534.9 million in the year 2018. The segment is further expected to expand at a CAGR of 7.76% during the forecast period, i.e. 2020-2027, and cross a value of USD 1029.7 million by the end of 2027. Additionally, the segment is also anticipated to have an incremental $ opportunity of USD 80.7 million in the year 2027 as compared to the previous year by growing at 1.69x during the forecast period.
The SAARC waste handling equipment market is anticipated to achieve a CAGR of 7.36% during the forecast period. Increasing municipal and industrial waste, along with the stringent government regulations in SAARC nations, such as India, Bangladesh, Sri Lanka and others are some of the factors anticipated to contribute towards the growth of the SAARC waste handling equipment market. The SAARC waste handling equipment market is further anticipated to reach a value of USD 4039.2 million by the end of 2027 from a value of USD 2170 million in the year 2018. Additionally, the market is expected to grow by an incremental $ opportunity of USD 302.9 million in the year 2027 as compared to the previous year, along with an absolute $ opportunity of USD 1583 million during the forecast period. Moreover, the SAARC waste handling equipment market is also anticipated to grow by 1.64x during the forecast period.
Increasing Wastes Generated From Various Sources
The 2018 Environmental Performance Index statistical report by the Yale University, in collaboration with the World Economic Forum, stated that, in the EPI Rankings, SAARC nations mostly ranked above 100, and that Bangladesh had the poorest rank of 179 with a score of 29.56. It was followed by India with a rank of 177, Nepal with 176 and Pakistan with 169, to name a few.
Backed by the growing concern for the poor ranking in the environmental performance of nations in SAARC region, generated by the increasing amount of e-waste generated by the nations, along with the increasing industrial waste, medical waste and poor waste management in the nations, have provided an advantage for the deployment of smart waste management technologies, which is anticipated to raise the need of waste handling equipment for efficient waste management, which is not just cost-effective, but also promotes to a greener environment. Such a factor is anticipated to drive the growth of the SAARC waste handling equipment market.
However, concerns regarding the illegal dumping of wastes generated from various sources which is raising the need for strict regulations for waste management, along with the high costs associated with the recycling of wastes, are some of the factors anticipated to limit the growth of the SAARC waste handling equipment market.
This report also provides the existing competitive scenario of some of the key players of the SAARC waste handling equipment market, which includes company profiling of Konecranes (HEL: KCR), TPS Infrastructure Limited, ARCAT Inc., Quality Enviro Engineers Pvt. Ltd., Shanghai QiZheng Machinery Equipment Co., Ltd., Genesis Waste Handling Private Limited and Beston (HENAN) Machinery Co. Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the SAARC waste handling equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.