Plant & Heavy Machinery Dismantling Services Market Size, Share, Growth Analysis, By Service Type(asset recovery services, industrial demolition services), By Application(manufacturing, construction) - Industry Forecast 2024-2031

Global Plant & Heavy Machinery Dismantling Services Market size was valued at USD 9.49 billion in 2022 and is poised to grow from USD 10.09 billion in 2023 to USD 16.45 billion by 2031, growing at a CAGR of 6.30% during the forecast period (2024-2031).

The global plant & heavy machinery dismantling services market refers to the services offered by companies that specialize in the dismantling, demolition, and removal of heavy machinery, plants, and other industrial equipment. This market plays a crucial role in the proper disposal of obsolete and end-of-life industrial assets, as well as in the safe and efficient dismantling of machinery and equipment for relocation or upgrade purposes. The market is primarily driven by the increasing demand for dismantling and recycling services, as companies aim to reduce their environmental footprint and comply with government regulations. The growing trend towards sustainable and eco-friendly practices has further fuelled the demand for plant & heavy machinery dismantling services, as companies seek to dispose of their equipment in an environmentally responsible manner. However, the market also faces several challenges, such as the high cost associated with dismantling and transportation, as well as the lack of skilled workers and specialized equipment. Moreover, the market is highly dependent on the overall economic conditions and industrial activity levels, which can fluctuate due to various factors such as global trade tensions, natural disasters, and pandemics. Despite these challenges, the market presents numerous opportunities for growth, such as the increasing demand for upgrading and retrofitting industrial equipment, the rising adoption of circular economy principles, and the emergence of new technologies such as automation and robotics.

US Plant & Heavy Machinery Dismantling Services Market is poised to grow at a sustainable CAGR for the next forecast year.