The Metal Recycling Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Metal Recycling Equipment Global Market Report 2024, The metal recycling equipment market size has grown strongly in recent years. It will grow from $6.73 billion in 2023 to $7.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased global demand for recycled metals, growth in environmental concerns and sustainability initiatives, escalate costs of primary metal production, need for resource conservation and energy savings, expansion of industrial manufacturing and construction activities.
The metal recycling equipment market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to adoption of advanced sorting and separation technologies in recycling, integration of artificial intelligence (ai) for efficient metal recovery, expansion of urban mining and e-waste recycling efforts, emphasis on scrap metal collection and recovery infrastructure, focus on circular economy and closed-loop recycling systems. Major trends in the forecast period include advancements in sensor-based sorting technologies, mobile metal shredders and fragmentizers, non-ferrous metal recovery from electronic waste, hydraulic shears and balers for metal compaction, nnovations in metal melting and refining furnaces.
Increasing government regulations on waste management and recycling across the globe are driving the growth of the metal recycling equipment market. Metals such as aluminium and copper can be recycled to save a lot of energy and natural resources. It also helps to reduce greenhouse gases such as carbon dioxide, carbon monoxide, and nitrous oxide. Environmental protection agencies (EPA) are working with environmental officials and governments around the world on waste management and recycling. For example, in 2021, the government of India announced a Metal Recycling Authority to promote organised recycling of key non-ferrous metals such as aluminum, copper, zinc., and lead. The authority will oversee the formulation of quality standards, certification, and process standards for recycling. Thus, increasing government regulations on waste management and recycling are contributing to the growth of the market.
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The metal recycling equipment market covered in this report is segmented –
1) By Machine Type: Shredders, Briquetting Machines, Shears, Granulating Machines
2) By Material Type: Metal, Ferrous, Non-Ferrous, Alloys And Composites
3) By Application: Automotive, Building And Construction, Ship Building, Equipment Manufacturing, Packaging, Consumer Appliances
Continuous research and development is a key trend gaining popularity in the metal recycling equipment market. For instance, in 2021, Japan-based manufacturer of cement products, copper and aluminum products, Mitsubishi Materials Corporation, has begun joint research with metal recycling company, Emulsion Flow Technologies Ltd. (EFT), on metal recycling technology utilising the emulsion-flow technique, which is an updated solvent extraction method. Emulsion-flow is a solvent extraction method that allows for high-efficiency metal extraction and a significant reduction in environmental impact. The technology offers ease of size reduction of equipment and automation of control, has low running costs, and high oil/water separation ability, offering reduced environmental impact.
The metal recycling equipment market report table of contents includes:
1. Executive Summary
2. Metal Recycling Equipment Market Characteristics
3. Metal Recycling Equipment Market Trends And Strategies
4. Metal Recycling Equipment Market – Macro Economic Scenario
5. Global Metal Recycling Equipment Market Size and Growth
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26. South America Metal Recycling Equipment Market
27. Brazil Metal Recycling Equipment Market
28. Middle East Metal Recycling Equipment Market
29. Africa Metal Recycling Equipment Market
30. Metal Recycling Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Hitachi Construction Machinery Co. Ltd
- Metso Corporation,
- Nucor Corporation
- CP Manufacturing Inc
- JMC Recycling Systems Ltd
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