August 16, 2022 12:05 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global glass crusher market is estimated at US$ 590.3 million in 2022 and is expected to expand at an impressive CAGR of 6.1% over the forecast years of 2022-2032. Wheel Bucket Sand Washing Machine
Globally, increasing concerns regarding waste management along with rising challenges related to waste disposal are expected to drive the waste recycling market. The laying down of strict laws has fast-tracked research and development initiatives in waste recycling, which is expected to support market growth for glass crushers.
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On a global level, people produce 2.12 billion tons of all types of waste every year. Globally, nearly 28 million tons of glass is recycled, which is estimated to be 21% of the overall volume of glass produced. The amount of recycled glass waste has been increasing over the years. Adoption of glass crushers for glass waste management and recycling is expected to generate high revenue prospects over the years ahead.
How is the U.S. F&B Sector Driving High Demand for Glass Crushers?
The United States glass crusher market is currently valued at US$ 148.3 million and is expected to reach US$ 300.5 million by 2032.
The United States had one of the world's largest industrial and commercial sectors. The country accounts for a large share of the glass crusher market; roughly 90.2% in the North American region.
The eye-catching development of America's commercial and industrial sector presents significant opportunities for market players. Growing initiatives by the government and end-use industries are expected to create lots of opportunities for glass crusher manufacturers in the near future.
The U.S. remains one of the world's largest markets for glass manufacturing, which also makes it a lucrative market for glass crusher suppliers. Higher population and environmental awareness among Americans will drive the growth of the glass recycling machines market in the country over the coming years.
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Key Segments Covered in the Glass Crusher Industry Survey
The business environment in the glass crusher market continues to reflect a rollup within the industry despite difficult economic conditions. To gain a solid hold in the market, prominent manufacturers are employing inorganic strategies; for instance, the acquisition of BOTTLECYCLER by TOMRA has consolidated the market dynamics in terms of competition.
Market participants are creating tie-ups with government recycling facilities and waste management programs to supply their offerings and cater to the rising demand. Also, market players are channelizing their marketing resources for capturing higher sales, particularly from the food & beverages industry where hotels, restaurants, and cafés are prominent demand creators.
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Key players in the Glass Crusher Market
Key Takeaways from Glass Crusher Market Study
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