LOS ANGELES, April 04, 2019 (GLOBE NEWSWIRE) -- QY Research states that the reverse vending machine market was worth US$343.6 mn in 2018 and is expected to be worth US$685.1 mn by the end of 2025. The global market is expected to surge at a CAGR of 10.36% between 2018 and 2025. Mushrooming end-use industries such as supermarkets, community stores, and utilities are expected to bode well for the market. The key players operating in the global reverse vending machine market are Tomra, Incom Recycle, Diebold Nixdorf, Sielaff, RVM Systems AS, Trautwein SB Technik, Kansmacker, and Envipco amongst others. Companies operating in the global reverse vending machine market are geographical expansion in both developed and developing parts of the world. For instance, Tomra, a Norway-based reverse-vending business, announced its plans to launch in the UK to be an essential part of the country’s deposit-return system.
Global Reverse Vending Machine Market: Drivers and Restraints
The growing amount of waste that is not recycled is driving the global reverse vending machines market. The untreated waste that is adding to the landfills is expected to drive countries to install reverse vending machines in the near future. These machines simplify the process of manual recycling with automated systems that are designed to collect and sort items and dispense cash depending on the quantity. Efficient deployment of reverse vending machines is projected to reduce greenhouse emissions and cut down the usage of virgin materials. All of these factors are expected to propel the global reverse vending machines market. On the flip side, however, the global market will be restrained by the lack of awareness about these systems and insensitivity about growing garbage issue.
Global Reverse Vending Machine Market: Forecast by Type
On the basis of type, the global reserve vending machine market was segmented into refillable, non-refillable, and multifunction. The research report provides a detailed insight into each of these segments, highlighting the reasons for the growth. It also offers market figures that the segments are poised to achieve by the end of forecast period.
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Global Reverse Vending Machine Market: Forecast by Application
In terms of application, the global reverse vending machine market is segmented into supermarkets, community, and utilities. Analysts have studied each of these segments thoroughly and given the readers a chance to understand the key areas for investments. The study also includes an analysis of the changing consumption pattern that is likely to dictate emerging market trends.
Global Reverse Vending Machine Market: Forecast by Region
In terms of region, the global reverse vending machine market has been segmented into North America, Asia Pacific, Europe, Central and South America, and the Middle East and Africa. The regional forecast provides an assessment regulatory framework of these regions, the changing political scenario, and the shifting GDPs to understand how they will individually and collectively impact the regional market.
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