June 08, 2021
According to the research literature titled ‘Global Sorting Equipment Market - Analysis By Product Type (Weight, Size, Others), Application, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with Market Study Report LLC, global sorting equipment market was valued USD 3221.18 million in 2020 and is anticipated to register an appreciable CAGR through 2026.
Global sorting equipment market development is largely driven by rising concerns regarding environment safety along with growing customer expenditure towards reducing landfills, increasing recycling rates, and lowering greenhouse emissions. Further, escalating demand for recycling projects are adding to the market growth.
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Further, several food safety systems, controls, and legislations are under development for mitigating microbiological and chemical hazards to reduce risk to consumer’s health. In fact, various government regulatory bodies are devising a food safety strategy that will aid in traceability of food stages at various stages including processing, production, and distribution, further adding impetus to the global sorting equipment market growth.
Elaborating on the Covid-19 impact on this vertical, the pandemic has affected the production and management of waste across the globe. In addition, healthcare and household waste streams have drastically increased, and the demand for medical waste management, sanitization and professional cleansing services has been skyrocketing, subsequently boosting the demand for sorting solutions.
Based on product type, global sorting equipment market is fragmented into weight, size, and others. Among these, size based products capture majority of the industry share, largely creditable to increasing initiatives by governments and regulatory bodies for ensuring strict food quality standards.
In term of application scope, the market is split into food, mining, and recycling, among which, the foremost segment currently leads the industry growth. Rising penetration of automated solutions in food industry is fostering the segmental growth. In particular, optical sorters are witnessing an increased demand in this sector owing to benefits such as improved food safety, shorter delivery cycles, and enhanced output.
From a geographical perspective, Asia Pacific accounted for 42.14% of the overall sorting equipment market share in 2020 and will likely maintain a strong growth curve through 2026. Advancements in resource recycling projects, prompt adoption of new technologies, and rapid industrialization, especially in economies like China and Japan, are augmenting the demand for advanced sorting solutions in the region.
Key players impacting the global soring equipment market dynamics are Tomra Systems ASA, Optimum N.V., CFT Group, Aweta, Raytec Vision S.p.A, Charoen Pokphand Group, Greefa Italia GmbH, The Bühler Holding AG, Duravant LLC, and Sesotec GmbH.