USD 0.92 billion
Report ID: SQSG20I2010 | Region: Global | Published Date: December, 2022 | Pages: 268 | Tables: 64 | Figures: 75
Metal Shredder Machine Market size was valued at USD 0.92 billion in 2021 and is poised to grow from USD 0.93 billion in 2022 to USD 1.03 billion by 2030, growing at a CAGR of 1.10% in the forecast period (2023-2030).
A shredder is a piece of machinery used to shred various materials. They are used in many different industries and are available in a range of designs, from paper shredders to scrap metal shredders. Industrial shredders are typically employed to reduce the size of materials so that they can be more easily sorted or to lower the cost of transporting recyclables. An industrial shredder can be used for business purposes as well as for private use. They can horsepower with varying degrees depending on the circumstances they need to function.
Heavy metal wastes are broken down into manageable pieces by a metal shredder, which also reduces their volume. Metal shredders are available in a variety of designs and sizes. The metal shredder system is essential machinery for both producers and consumers of recycled metal as environmental concerns rise. It is mostly utilized in the steel and automotive industries. A variety of metal waste is crushed using this machinery. They are frequently employed in metal recycling and scrap yards to reduce debris to a uniform size and shape so that it may be segregated and processed further.
US Metal Shredder Machine Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 0.92 billion
Mechanical shredder machines
Mechanical shredder machines
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The global metal shredder machine market has been segmented based on type application analysis, and region. Based on type, the market is segmented into mechanical shredder machines and shock wave shredder machines. Based on the application analysis, the market is segmented into iron and steel, aluminum and copper, and non-ferrous metals. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Metal Shredder Machine Market Analysis by Type
With the highest CAGR during the forecast period, the mechanical shredder machine dominates the global market. The growth is attributed to their frequent used in metal recycling and scrap yards to reduce waste to a uniform size and shape so that it can be segregated and processed further. Additionally, these shredding machines may treat ferrous and non-ferrous metals from end-of-life autos, white goods, home appliances, sorted light scrap, and other sources (ELVs). Furthermore, due to design and feature factors such as reduced noise, sparking, dust, and heat accumulation, the market is predicted to have consistent growth. This shredder reduces the scrap to tiny pieces, simplifying the disposal process.
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In terms of market share for metal shredder machines globally, Asia Pacific dominated the global market. The region's market expansion is anticipated to be fueled by rapid population growth, supportive government policies for waste management and environmental protection, and rising economic development.
Due to the existence of major factories in the U.S. and the expanding demand for metal scrap from numerous industries, North America's market is expected to rise exponentially. The government's increasing focus on minimizing metal waste production and encouraging the circular economy also encourages market expansion in the region.
Throughout the upcoming years, tremendous growth is anticipated in Europe. Government energy rules that are stringent and the significant usage of recycled scrap for secondary metal production are expected to support regional market expansion. South America is anticipated to have phenomenal growth. It is anticipated that the rising middle class in countries like Mexico, Brazil, and others, along with escalating industrialization, will fuel market expansion. The increased metal recycling across end-use sectors will cause the Middle East and Africa to see significant growth.
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Metal Shredder Machine Market Driver
Growing Urbanization and Industrialization to Encourage More Growth
Metal Shredder Machine Market Restraint
Price Volatility and Monopoly of Major Players to Create Market Challenges
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To promote greater localization, market participants emphasize excellent region-to-region coverage. To increase their presence in the supply chain for recovered metal, leading manufacturers are concentrating on acquiring producers of recycled metal goods. They favor strategic methods, such as renaming already existing products. For a variety of end-use applications, the top manufacturers of metal shredder machines emphasize obtaining and applying cutting-edge technologies. To increase their market penetration, they are concentrating on rebranding already existing products and using other tactical methods. To strengthen their market presence, they use acquisitions, mergers, collaborations, and the introduction of new products. For instance, in June 2021 WEIMA introduced drainage and packing presses to broaden its product offering. The renowned PÜHLER technology has undergone a consistent, contemporary overhaul and now offers the first-rate WEIMA service.
Top Players in the Global Metal Shredder Machine Market
Metal Shredder Machine Market Recent Development
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According to the global metal shredder machine market report analysis, by type, mechanical shredder machine dominated the global market in 2022 and is anticipated to maintain its dominance throughout the forecast period. In 2022, Asia Pacific dominated the global metal shredder machine market owing to the region's rapid population growth, supportive government policies for waste management and environmental protection, and rising economic development.
|Market size value in 2021||USD 0.92 billion|
|Market size value in 2030||USD 0.93 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Metal Shredder Machine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Metal Shredder Machine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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