August 25, 2022 10:26 ET | Source: Research Nester Research Nester
New York, New York, UNITED STATES
New York, Aug. 25, 2022 (GLOBE NEWSWIRE) — Research Nester has published a detailed market report on ‘Global Briquetting Machine Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
Global Briquetting Machine Market Size:
The global briquetting machine market is estimated to grow at a CAGR of ~7% over the forecast period. Increasing focus on utilizing renewable energy resources are estimated to boost the market growth. About 12.2% of all energy consumed in the United States in 2021 came from renewable sources. Briquetting machine is used for recycling biomass waste. It converts waste, such as, paper, plastic, wooden, and agricultural straw into regular shaped blocks.
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Furthermore, increasing pollution all around the globe in increasing demand for renewable resources and hence which in turn is expected to increase the demand for briquetting machine. Around 7 million deaths per year worldwide are attributed to home and ambient air pollution; in the Western Pacific Region alone, this number is closer to 2.2 million. Hence briquetting blocks act as the best substitute for coals as they emit less smoke while burning and are ash free which makes them best fuel resources and leads to less pollution.
Global Briquetting Machine Market: Key Takeaways
Increasing Awareness Regarding Waste Management amongst People to Boost Market Growth
Owing to increasing pollution more focus is given to renewable source of energy. According to WHO data, 99 percent of the world’s population breathes air that contains high levels of pollutants and exceeds WHO guideline limits, with low- and middle-income nations seeing the worst exposures. Briquetting machine helps in building briquetting blocks which are renewable source of energy. They lead to less pollution and hence their demand is expected to increase in the forecast period.
Further government initiatives to increase awareness among people to use more renewable sources of energy is expected to boost the demand for the briquetting machines. Based on the support given by the government, renewable energy in Malaysia has significantly improved. As a result, a number of policies have been put into place to assist the plans for implementing renewable energy (RE) for future generations. These laws include the Sustainable Energy Development Authority Act of 2011, the Renewable Energy Act of 2011, and the Malaysian National Renewable Energy Policy. In recent times, Malaysia is furthering its efforts towards sustainable energy consumption. In January 2022, Malaysia along with Europe, the US, and Australia is a key member nation in the 26th UN Climate Change Conference of the Parties (COP26) which aims to restrict temperature rise, a critical step towards sustainable energy consumption.
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Global Briquetting Machine Market: Regional Overview
The global briquetting machine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Adoption of Renewable Source of Energy to Drive Growth in the Asia Pacific Region
The briquetting machine market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period backed by increasing adoption of renewable source of energy. According to a recent study funded by Ministry of New and Renewable (MNRE), India currently has access to around 750 million metric tonnes of biomass annually. Also government initiatives in this region is further expected to boost the market growth. ASEAN governments have laid out an aspirational five-year sustainability strategy under the second phase of the ASEAN Plan of Action for Energy Cooperation (APAEC) 2021-2025 to boost renewable energy capacity and revitalise pandemic-hit economies. As a result, the energy ministers of the ASEAN nations decided to set a goal for the region’s primary energy supply of over 22% renewable energy by 2025 and more than 34% installed capacity for the ASEAN.
Increasing Awareness and Investment in Waste Management Projects to Favour Growth in North America Region
Furthermore, the North America region is anticipated to gain the largest share in the global briquetting machine market over the forecast period owing to the increasing awareness and investment in waste management projects. In 2019, the North American waste management market was estimated to be worth approximate 20o billion dollars. According to projections, the market would grow to approximately 240 billion US dollars by 2027.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
Global Briquetting Machine Market, Segmentation by Type
The roller segment is anticipated to hold the largest share in the market over the forecast period. Briquetting rollers are expected takes comparatively less time. Also they consume less energy, and have very compact structure along with convenient maintenance. Owing to the increasing industrialization the market is further expected to grow. Global industrial production in March 2022 increased by approximately 5 percent as compared to the same month the previous year, with the United States excluded.
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Global Briquetting Machine Market, Segmentation by Automation
Production line which includes cleaning of raw material, drying, cooling, and more, if made automatic, reduces time and energy. 1.2 to 1.5 tonnes of briquettes may be produced each hour with a reduction in the number of workers from the original 10 to 2–3, increasing output while reducing the input of labour and materials. Hence the demand for automatic briquetting machine is expected to increase. Further urgent need for briquetting blocks owing to the increasing pollution is expected to boost the market. This briquetting blocks are extensively used for household purpose backed by increasing household pollution. In 2020, it was anticipated that household air pollution caused 3.2 million fatalities annually, including approximately 237 000 deaths of children under the age of 5.
Few of the well-known market leaders in the global briquetting machine market that are profiled by Research Nester include, CF Nielson A.S, RUF US, Inc., Santec Exim Private Limited, WEIMA Maschinenbau GmbH, Jay Khodiyar Machine Tools, Maxton Industrial Co., Ltd., Yuken Europe Ltd., GURU KIRPA Engineering Works, Zhengzhou E.P Machinery Co., Ltd., GEMCO Energy Machinery Co., Ltd, and other key market players.
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Recent Developments in the Global Briquetting Machine Market
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