Increasing population accompanied by extensive industrialization is resulting in the substantial consumption of resources, which is inevitably resulting in the release of huge amounts of waste. To preserve the environment from such toxic wastes, many global organizations have started adopting waste management services to help them manage wastes effectively. Technology development coupled with mushrooming investment in waste management services and equipment is providing immense opportunities for the growth of this market, globally. Also, factors like the increasing adoption of equipment to carry out waste management services such as the incinerators in the chemical and healthcare industries and stringent regulations by governments for the disposal and recycling of waste products are augmenting the growth of this category. (Source: SpendEdge’s procurement report on waste management equipment category).
In this article, we offered a comprehensive understanding of the global market for waste management equipment and top companies in this category.
Global Market Overview
Planning the management of waste and recycling waste is an enormous task, which involves both scientific knowledge, logistical planning, and understanding to balance the effect on the environment and the cost-effectiveness of the process. According to SpendEdge’s report, rising environmental concerns coupled with the unavoidable increase in non-hazardous waste due to fast economic growth, primarily across developing nations, will drive the demand for waste management services and equipment. There are several other factors that are contributing to the growth of the waste management equipment market. These factors include growth in the development of innovative technologies, adoption of recycling techniques, and advanced waste collection solutions to enhance collection processes. Furthermore, the report estimates the recent increase in industrial, wet, solid, and medical wastes to drive the volumetric demand for waste management equipment.
Top Waste Management Equipment Companies
Dover Corporation is a diversified global waste management company with an annual revenue of approximately $7 billion. It delivers innovative components and equipment, consumable supplies, specialty systems, support services, software, and digital solutions through three operating segments namely fluids and refrigeration, engineered systems, & food equipment. Dover Corporation was founded in 1955 and is headquartered in the US. Dover trades on the New York Stock Exchange.
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