The worldwide resource circulation equipment market was anticipated to have collected about USD 10.8 billion in 2012. It is estimated to attain around USD 17.5 billion by 2019. The market is predicted to record a CAGR of about 7.5 percent during the forecast phase. The said phase lasts from 2013 to 2019. The resource circulation equipment market is segmented on the basis of applications and geographies.
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On the basis of applications, the market is fragmented into construction, automotives, electronics and electricals, polymers and plastics, papers, metals, gas and oil and others. ‘Others’ consists of healthcare, farming, etc. Augmented demand for resource circulation equipment from all these application sectors is predicted to drive further demand for the resource circulation equipment market.
The geographies market is fragmented into four vital regions. These are North America, Asia Pacific, Europe and rest of the world. North America leads the worldwide resource circulation equipment market. It occupied the biggest share in 2012. The region accounted for the biggest income that year on account of being store to firm ecological policies.
Increased demand for the worldwide resource circulation equipment market also owes to increased demand for these equipment from the sector of electrical and electronic instruments. Electrical and electronic equipments used in building recycling captured the largest share in the resource circulation equipment market in 2012.
The rising style of recycling in the sector of electrical and electronic devices has remained a primary component, driving demand for the resource circulation equipment market. The preference for resource circulation equipment is projected to increase from medium to high. Nonetheless, the market demands significant financial spendings to progress further.
Information Source: Radiant Insights