The Europe plastic recycling machine market refers to the market for machinery and equipment used in the European region to recycle plastic waste. Plastic recycling machines convert waste plastic into reusable plastic pellets or flakes that can be used to make new plastic products. The growing awareness of the environmental impact of plastic waste and the need to reduce it is driving the market for plastic recycling machines in Europe. The European Union has set ambitious targets for increasing plastic recycling rates, which has resulted in stricter regulations for plastic waste disposal. As a result, there is a greater demand in the region for plastic recycling machines.
The market is expected to expand further in the coming years, owing to rising demand for recycled plastics and the implementation of more stringent plastic waste management regulations in Europe. However, the market may face challenges due to the high cost of plastic recycling machines and the scarcity of recyclable raw materials. Furthermore, the COVID-19 pandemic may have an impact on the market due to disruptions in supply chains and decreased demand for recycled plastic products.
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Key Takeaways from Market Study
- The market witnessed a 2.1% CAGR for the period of 2018-2022
- Europe recycling machine market is projected to expand at a CAGR of 5.3% and be valued at US$ 1.3 billion by 2033
- Germany to dominate the market with a 25.0% market share in 2023.
- The UK is estimated to grow at a CAGR of 4.0% over the projection period from 2023-2033
- Market players operating in the recycling machine market are Ken Mills Engineering Ltd, Metal Recycling Machines, Bronneberg, Zato, and STOKKERMILL, among others
Prominent Titans Key Strategies
Manufacturers are adopting both organic and inorganic strategies to expand their footprints across Europe. Integration of advancing technology to enhance product performance and customization to fulfill the customer’s requirements. A digital platform to improve brand recognition and after-sales service to retain loyal customers for the long run and increase sales of the recycling machines.
Key Companies Profiled
- FOR REC S.P.A. P.IVA
- Next Generation Recyclingmaschinen GmbH
- LIDEM
- Ken Mills Engineering Ltd
- Metal Recycling Machines
- Bronneberg
- Zato
Manufacturers compete for contracts from the government or non-profit organisations to install and maintain recycling equipment at various locations throughout the region. Moreover, customisation and after-sales services shape the demand pool and give market participants access to significant profit margins. The development of the unique product through digitalization and the use of cutting-edge technology will support revenue growth over the projection period.
Reginal -wise Insights
North America:
- The North American region is expected to dominate the automotive cabin air filter market due to the high demand for cleaner air and increasing awareness about air pollution in the region.
- The United States and Canada are the key markets in the region, with major players such as Mann+Hummel, Freudenberg & Co. KG, and Donaldson Company Inc. operating in the region.
Europe:
- The European region is expected to see significant growth in the automotive cabin air filter market due to the stringent regulations on air pollution in the region.
- Major players such as MAHLE GmbH, Sogefi SpA, and Robert Bosch GmbH are operating in the European market, with Germany, France, and the UK being the key markets.
Asia Pacific:
- The Asia Pacific region is expected to see significant growth in the automotive cabin air filter market due to the increasing demand for vehicles and rising concerns over air pollution.
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Major players such as Denso Corporation, Valeo SA, and K&N Engineering, Inc. are operating in the region, with China, India, and Japan being the key markets.
