Waste management in the automotive industry: Key market research findings
- Growing recycling activities
- Increasing dominance of recyclable waste
Technavio has added a new market research report on the waste management in the automotive industry, to its waste management portfolio. The waste management in the automotive industry is expected to grow at a CAGR of 10% between 2015 and 2019 due to the rising production of automobiles and the increasing waste management services by governments worldwide. The APAC dominates this market, occupying around 53% of the total market share. Growing automobile manufacturing activities in regions like China, India, and Japan is expected to result in the generation of waste materials. Huge investments in the waste recycling sector in this region will boost this market’s growth in the APAC. 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.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The manufacturers can recover 98% of all waste materials used in the automotive industry. The fluids used in automobiles, such as coolants, gasoline, and engine oil, are managed carefully for proper disposal. Also, the manufacturing activities consume a lot of energy which is higher than the recycling process. Automotive waste management allows the reuse and recycling of waste materials, such as metal, solvents, batteries, plastic, and glass. This resolves supply shortages during the manufacturing process as the recycled automotive waste can be reused. Various nations like US, UK, Germany, China and India are the major automotive waste generators,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
Recyclable waste segment accounts for around 82% of the total market share. 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. Some common recycled automotive waste materials include metal, automotive oil, lead-acid batteries, antifreeze, gasoline and tires.
The leading vendors in the waste management in the automotive industry are Autowaste, Befesa, Emerald, Northburn, Recyclex, Safety-Kleen, SkipWaste and SWR. This market is highly fragmented due to the presence of numerous local and international players. These vendors provide services that are limited to a particular region rather than global services.
A more detailed analysis is available in the Technavio report, Waste Management in the Automotive Industry 2015-2019.
We can customize reports by other regions and specific segments upon request.
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- Global Construction Waste Management Market 2015-2019
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