DUBLIN--(BUSINESS WIRE)--The "Hazardous Waste Handling Automation Market - Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The hazardous waste handling automation market is expected to grow at a CAGR of 8.54% during the forecast period 2019-2024
Stringent governmental and industrial regulation towards the safety of people from the hazardous waste is expected to drive the growth of the market.
- The hazardous waste are the materials generated on a day to day basis by people, power plants and manufacturing companies. The use of such automation solutions for handling waste improves the process efficiency and reduces the reliability on manual intervention as it can be dangerous to the human body. Hence, concerns about proper handling of these harmful substances can be eliminated which is driving the market growth
- Hazardous waste poses an enormous threat to public health. It has to be treated, recycled and disposed effectively so as to prevent environmental pollution. Growing awareness has brought the government's attention towards legislations that can help in effective tackling of these wastes.
- The automation solutions also help in controlling the expenditure towards healthcare treatment caused by the after-effects of these hazardous wastes on population.
- Growth in awareness and the changing environmental conditions are expected to drive the global hazardous waste handling automation market.
Scope of the Report
Hazardous waste management is the collection, disposal, and the treatment of harmful materials. If improperly handled, it can cause substantial harm to human health and the environment. Some of these wastes can be handled manually while some may require expertise and automation solutions to minimize human contact with the waste.
Key Market Trends
Manufacturing Sector to Witness High Growth
- The manufacturing industry is one of the major segments that produce waste globally. A large portion of these wastes is hazardous due to the presence of chemical substances.
- Waste products from manufacturing industries such as paints, oils, batteries, strong acids & bases, reactive substances, and other ignitable wastes should be disposed of with special care. Improper disposal of these wastes impacts the environment to a great extent, and ultimately, humans, this is a major factor driving the market ahead.
- Therefore, with increasing waste from production and manufacturing sector is driving the market growth.
- In order to avoid the direct contact of human with these hazardous waste, the need for automation has increased drastically. By deploying these automation solutions, the concerns of proper handling can be reduced and improve process efficacy.
- Labor handling these hazardous materials can be minimized, thus, reducing handling costs and providing a safer workplace, and reduced environmental impact.
- As the revenue for the treatment and disposal of hazardous waste is increasing, it gives an opportunity for the vendors to increase their revenue also, by implementing automation solutions, efficiency can be increased which can lead to better profit margins, which is driving the market forward.
North America Occupies the Largest Market share
- North America dominated the global hazardous waste handling automation market during the forecast period due to the increasing adoption of automation in the waste management process.
- The latest technological breakthroughs in the region have assisted the advancement of new hazardous waste handling automation products that can make the overall processes more efficient and can significantly improve accuracy in various applications.
- The region is witnessing series of new product launches, mergers and acquisitions in the market where every player wants to take advantage of the opportunities. The major drivers behind the investments in the market are the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial.
- With these series of investments, the hazardous waste handling automation market in North America is set to boom during the forecast period.
The hazardous waste handling automation market is highly competitive with the presence of many players. The market is moderately concentrated with the key strategies adopted by the major players are mergers and acquisition, product advancement. Some of the players in the market are Terex MHPS GmbH, Konecranes Plc, Hiab, Pallmann among others.
- April 2019 - Terex Corporation announced that it has sold its boom truck, truck crane and crossover product lines to Load King, a subsidiary of Custom Truck One Source L.P. Included in the transaction are the assets and parts business associated with these product lines
- February 2019 - Terex Corporation sold its Demag Mobile Cranes business to Tadano Ltd. for an enterprise value of approximately USD 215 million. The Demag Mobile Cranes business manufactures and sells all terrain cranes and large crawler cranes.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Government and Industry Regulations
4.3.2 Growing Concern About the Waste Management
4.4 Market Restraints
4.4.1 The Market has Reached Stagnant Position in Several Developed Countries
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Manipulator Arms
5.1.2 Telescoping Masts
5.1.5 Size Reduction Systems
5.1.6 Other Products
5.2 By Type of Waste
5.2.1 Listed Wastes
5.2.2 Characteristic Waste
5.2.3 Universal Wastes
5.2.4 Mixed Wastes
5.3 By End-user Industry
5.3.4 Consumer Care
5.3.6 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 PaR Systems Inc.
6.1.2 Konecranes Plc
6.1.3 DX Engineering
6.1.4 Floatograph Technologies
6.1.6 Hosokawa Micron Powder Systems
6.1.7 ACE Inc.
6.1.8 Terex MHPS GmbH
6.1.10 PENZ crane
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qasv05