Reverse Vending Machine Market 2019-2024
A reverse vending machine is a device that accepts used empty beverage containers and returns money to the user. The machines are popular in places that have mandatory recycling laws or container deposit legislation. In some places, bottlers paid funds into a centralized pool to be disbursed to people who recycled the containers. Any excess funds were to be used for general environmental cleanup.
Popularly known as RVMs, reverse vending machine is a device that accepts used empty beverage containers and returns money to the user. The machines are popular in places that have mandatory recycling laws or container deposit legislation. In some places, bottlers paid funds into a centralized pool to be disbursed to people who recycled the containers. Any excess funds were to be used for general environmental cleanup.
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RVMs are developed to recover and dispose of recycled products more effectively and are used for cost-effective waste recycling and disposal. Effectively, RVMs helps to reduce landfills, increase recycling rates, avoids using virgin material for new products, lowers greenhouse gas emissions, reduces water usage and creates jobs. Revenue growth of overall RVM market is being driven by new installations and servicing of old machines. The Utilities in most developed countries have passed laws to promote reduction, reuse, and recycling of waste that have further contributed to RVMs demand. RVM companies operate with two different business models. One is a sales model, where machines are sold to the food retail stores and the other is through lease model in which RVM companies maintains ownership of the installed machines and receives payment based on the number of containers handled by the machines.
Innovation and development of resource recycling projects have led to the increasing demand for the reverse vending machine. Increasing resource recycling projects across the globe, especially in the Asia-Pacific is another major factor, driving the growth of the reverse vending machine market during the forecast period.
With an increased focus on environmental protection, the reverse vending machine market is likely to witness strong growth in the coming years.
According to this study, over the next five years, the Reverse Vending Machine market will register a 10.5% CAGR in terms of revenue, the global market size will reach US$ 570 million by 2024, from US$ 310 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in the Reverse Vending Machine business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Reverse Vending Machine market by product type, application, key manufacturers and key regions and countries.
This study considers the Reverse Vending Machine value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
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The report also presents the market competitive landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in Chapter 3.
TRautwein SB Technik
RVM Systems AS
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Reverse Vending Machine consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Reverse Vending Machine market by identifying its various sub-segments.
Focuses on the key global Reverse Vending Machine manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in next few years.
To analyze the Reverse Vending Machine with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
To project the consumption of Reverse Vending Machine submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Name: Jennifer Daniel
Organization: Planet Market Reports