San Francisco, California, Oct. 24, 2014 (GLOBE NEWSWIRE) -- The global market for resource circulation equipment (RCE) is expected to reach USD 18.55 billion by 2020, according to a new study by Grand View Research, Inc. Increasing industrial & electronic waste coupled with stringent environmental regulations are expected to drive RCE demand over the next six years. Recent uptrend in recycling rate and efficiency is also expected to have a positive impact on resource circulation equipment sales. However, high initial investment cost is expected to be a key challenge for market participants.
Electrical & electronics emerged as the leading application segment for resource circulation equipment and accounted for 20.6% of total market revenue in 2013; this is also expected to be the fastest growing application segment, at an estimated CAGR of 8.3% from 2014 to 2020. Demand for RCE in metal industry is expected to exceed USD 2.5 billion by 2020, growing at a CAGR of 7.9% from 2014 to 2020. Increasing industrial waste and scrap recycling activities are expected to drive the growth of this segment.
Get More Details About Resource Circulation Equipment Market: http://www.grandviewresearch.com/industry-analysis/resource-circulation-equipment-market
Further key findings from the study suggest:
- North America was the largest regional market with 39.4% of total market share in 2013. Increase in industrial and electronic waste, particularly in the U.S. and Mexico is expected to drive the demand for RCE in North America.
- North America was closely followed by Asia Pacific which is expected to be the fastest growing regional market for RCE at an estimated CAGR of 8% from 2014 to 2020. Rapid industrialization and increasing need to recycle the waste generated from various industries particularly in emerging markets of China and India is expected to drive the regional market for RCE.
- Major companies in global resource circulation equipment market include Kawasaki Heavy Industries Ltd., Metso, Komptech GmBH, Vecoplan, Wolf Material Handling Systems and Foster Wheeler. Other companies include Clean Burn Inc., Lurgi AG, JFE Engineering Corporation, ShowaDenko, ThermoSelect SA, and ECO Green Equipment.
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For the purpose of this study, Grand View Research has segmented the resource circulation equipment market on the basis of application and region:
Global Resource Circulation Equipment Market Application Outlook (Revenue, USD Million, 2012 - 2020)
• Electrical & Electronics
• Plastic & Polymers
• Oil & Gas
• Others (Agriculture, Medicine, etc)
Global Resource Circulation Equipment Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
Browse Press Release of Resource Circulation Equipment Market: http://www.grandviewresearch.com/press-release/global-resource-circulation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information, visit http://www.grandviewresearch.com/
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Source:Grand View Research