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Technavio market research analysts estimate the global market for waste management in the automotive industry to post a moderate CAGR of nearly 10% by 2019. This market is expected to grow steadily during the forecast period and is positively influenced by factors like the rising production of automobiles and the increasing waste management initiatives by governments across the world.
Increasing production of automobiles is the key driver for the growth of this market. Since the production of automobiles involves the generation of waste materials, many manufacturers are now recycling these waste materials as it helps to resolve supply shortage during the manufacturing process. Automotive waste management involves the reuse and recycling of waste materials like metal, solvents, batteries, plastic, and glass. Recycling of these materials helps vendors to address environmental concerns and also allows them to address the issue of resource depletion.
In this market research report, Technavio’s market research analyst has estimated the recyclable waste segment to account for more than 82% of the total market share by 2019. Recycling of automotive wastes involves processes that convert the discarded wastes into useful materials and can be carried out either at the manufacturing site or at processing facilities.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
In this market study, Technavio analysts have estimated the APAC region to account for approximately 53% of the total market share by 2019. In APAC, rising automobile manufacturing activities in regions like China, India, and Japan is expected to result in the generation of waste materials. Since the existing automotive waste processing systems in APAC are inadequate and need a lot of improvement, this region is expected to witness huge investments in the waste recycling sector, which in turn will promote market growth in APAC during the forecast period.
This market is highly fragmented due to the presence of numerous local and international players like Skip waste and SWR. These vendors provide services that are limited to a particular region rather than global services. The Americas and APAC are the two critical regions where waste management services are primarily focused and factors like the increasing manufacturing activity and the introduction of stringent government policies augment the prospects for growth in this market during the forecast period.
Leading vendors in this market are -
Other prominent vendors analyzed in this market study are AWS, Bradbury, EWD (Eastern waste disposal), and Mil-tek.
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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