NEW YORK, Nov. 8, 2021 /PRNewswire/ -- The waste sorting robots market size is expected to increase by 2009 units from 2019 to 2024, registering a CAGR of about 7%, according to the latest research report from Technavio. The waste sorting robots market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.
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Market Drivers
The market is driven by the use of robots for ensuring safety in the processes across various end-user industries. Robots with advanced machine learning technology aids in cost-cutting for end-users by minimizing labor costs and injury-related insurance costs. In addition, with the rise in population and demand for goods and services, industries are focusing on enhancing production efficiency, which, in turn, has boosted the deployment of waste sorting robots across the globe.
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Market Segmentation
The waste sorting robots market is segmented by End-user and Geography. The plastic industry will witness considerable growth and account for the largest end-user segment share of this market during the forecast period. In terms of geography, 42% of the growth will originate from North America with the US emerging as the key revenue-generating economy of this region. This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
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Market Scope
The waste sorting robots market covers the following areas:
Waste Sorting Robots Market SizingWaste Sorting Robots Market ForecastWaste Sorting Robots Market Analysis
Companies Mentioned
- ABB Ltd.
- AMP Robotics Corp.
- Bollegraaf Recycling Machinery BV
- Bulk Handling Systems
- HOMAG Group AG
- Machinex Industries Inc.
- SADAKO TECHNOLOGIES SL
- Tomra Systems ASA
- Waste Robotics Inc.
- ZenRobotics Oy
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Waste Sorting Robots Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2019 |
Forecast period | 2020-2024 |
Growth momentum & CAGR | Accelerate at a CAGR of 7% |
Market growth 2020-2024 | 2009 units |
Market structure | Concentrated |
YoY growth (%) | 3.79 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 42% |
Key consumer countries | US, UK, China, Japan, and Germany |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | ABB Ltd., AMP Robotics Corp., Bollegraaf Recycling Machinery BV, Bulk Handling Systems , HOMAG Group AG, Machinex Industries Inc., SADAKO TECHNOLOGIES SL, Tomra Systems ASA, Waste Robotics Inc., and ZenRobotics Oy |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio