Reverse Vending Machine Market Competitive Landscape 2022 : Companies covered in the Reverse Vending Machine Market are Tomra, Incom recycle, TRautwein SB Technik, Diebold Nixdorf, RVM Systems AS, Envipco, Kansmacker and others.
This report focuses on the Reverse Vending Machine in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.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.RVMs are developed to recover and dispose 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 has led to the increasing demand for 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 increased focus on environment protection, the reverse vending machine market is likely to witness a strong growth in coming years.The worldwide market for Reverse Vending Machine is expected to grow at a CAGR of roughly 10.5% over the next five years, will reach 570 million US$ in 2023, from 310 million US$ in 2017, according to a new GIR () study.
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.
Rising Demand In Supermarkets, Community, Utilities Driving the growth of Industry
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