The global briquetting machine market is estimated to garner a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing focus on utilizing renewable energy resources all over the world. The briquetting machines are used to convert waste, such as, paper, plastic, wooden, and agricultural straw into a regular shaped block. These blocks are further used as fuel instead of coal or any other non-renewable fuel in industries and households. According to a report published by the World Bank Group, the world generates 2.01 billion tons of municipal waste and the number is increasing at an unprecedented rate. The governments all over the world are making flexible norms for effective solid waste management programs. Moreover, various private sectors are generating good revenue by selling briquettes to industries and households. Owing to these reasons the global briquetting machine market is expected to grow during the forecast period. Another prominent reason behind the market growth is the adverse environmental impact of using non-renewable sources. For instance, the annual CO2 transmission through coal is approximately 14 billion tons worldwide. On the contrary, biomass, which is a clean source of energy, gets wasted. It is estimated that around 2 billion tons agricultural waste is accumulated annually. Altogether, more than 10 billion tons of wastes and residuals is produced by forest, industrial, and agricultural activities worldwide.
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The market is segmented by type into hydraulic, roller, and piston, out of which, the roller type segment is anticipated to hold the largest share in the global briquetting machine market on account of the comparatively lesser time taken by roller type machines, along with the lower cost of the machine. The roller type briquetting machines are getting popular to utilize waste effectively, owing to which, the segment is expected to grow significantly during the forecast period.
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Regionally, the global briquetting machine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to garner noteworthy growth over the forecast period, on the back of flexible government guidelines for solid waste management and the widespread adoption of renewable energy resources. As per the recent reports from the Indian Ministry of New and Renewable Energy, the current availability of biomass in India is estimated to reach 750 million metric tons per year. Owing to these factors, the global briquetting machine market in APAC region is expected to grow significantly over the forecast period.
The global briquetting machine market in North America region is also expected to witness escalating growth over the forecast period owing to the increasing awareness and investment in waste management projects.
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The global briquetting machine market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global briquetting machine market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The driving force for the growth of the briquetting machine market is the increasing awareness regarding waste management.
The market is anticipated to attain a notable CAGR of ~7% over the forecast period, i.e., 2022-2031.
The major players in the market are CF Nielson A.S, Jay Khodiyar Machine Tools, Yuken Europe Ltd., GEMCO Energy Machinery Co., Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, automation, and, by region.
The roller-type segment is anticipated to hold the largest market size over the forecast period and display significant growth opportunities.
The cheaper cost and widespread availability of non-renewable sources are estimated to hamper the market growth.
The market in the Asia Pacific region is estimated to garner noteworthy growth over the forecast period on the back of flexible government guidelines for solid waste management.
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