Waste management for the Automotive sector is changing
Technavio reports on the global automotive waste management market
In 2018, technology research company, Technavio, presented a full analysis of the global automotive waste management market based on product type – such as recyclable and non-recyclable waste.
Various companies in the waste management industry were analysed – including us! – and Technavio suggested strategies and areas to focus on to sustain the competition and increase revenue shares in this global market.
The analysis estimated that the Americas will contribute to the major growth of the companies in the automotive waste management market through to 2022.
Weight saving = fuel saving = waste saving
Consumer spend has increased around the world, as has the demand for consumer vehicles. This has resulted in the growth of the global economy, subsequently improving the confidence of consumers who then purchase more goods.
Although greater buyer confidence has increased vehicle production and sales, the repercussions are increased waste generated by the automotive industry.
Mostly driven by a desire to reduce carbon emissions, the automotive industry has transitioned to manufacturing safer, lighter, and cleaner vehicles. This will be one of the primary trends predicted to grow in during the next few years.
General Motors, one of the major automotive manufacturers, has reduced 3,500 lbs on ten vehicles across their product range. This weight saving will lead to a saving of almost 300 million gallons of fuel every year!
Changing components to save weight and waste impacts recycling
Such incredible fuel savings – and therefore waste savings – will lead to greater consumer preference for lightweight vehicles, subsequently impacting how vehicles are recycled as well as increasing market growth.
One of the major components used in automotive manufacturing is steel, chosen for its incredible durability and toughness. The shift towards lightweight vehicles will therefore have a significant impact on recycling given that steel is one of the most recyclable components!
When producing more lightweight vehicles, manufacturers prefer other components such as high-tensile steel, aluminium, and magnesium – so these lighter components will be in demand for automotive manufacturing.
Additionally, one of the major shifts happening in the automotive industry at the moment is the rise of electric vehicles and car batteries. It is one of the primary trends predicted to grow during the next few years, alongside the increasing number of electric vehicles on the road, and will bring its own changes to automotive waste management.