Leading technology research and advisory company Technavio has released a report estimating that the global market for waste management in the automotive industry will experience a Compound Annual Growth Rate of 10% by 2019. The combination of increasing automobile production and waste management initiatives by governments across the world are positively influencing the forecast period.
The main driver, however, is rising levels of vehicle manufacturing. Naturally, car production generates large volumes of waste materials such as glass, plastic, batteries, solvents and metal. A wide range of manufacturers are now putting their efforts into reusing and recycling these materials to alleviate the shortage of supplies during the manufacturing process.
Waste management in the automotive sector involves converting discarded waste into materials for continuous use in the manufacturing process. Recycling enables manufacturers to actively address environmental issues and reduce the demand for new materials in production. Additionally, converting waste materials is convenient as it can be carried out at the processing facilities or at the manufacturing site. The market research by Technavio predicts the recyclable waste segment of the automotive industry to account for 82% of the total market share as we approach the end of the decade.
Europe and the USA are key regions in automotive waste management, but the systems in the Asia-Pacific region are still in need of improvement. However, due to rising automobile activities in China, Japan and India, there will be an increase in generated waste materials so the APAC region is expected to see substantial investments in the waste recycling sector. This will promote growth of the market in the region over the next four years.
Recycling is an important aspect of any manufacturing process, and as production levels continue to grow throughout the industry, new and efficient waste management solutions will offer beneficial economical and environmental solutions. The automotive industry demands skilled professionals for every area, and if you are interested in motor trade jobs within waste management or any other area, we can help you find your dream role.