The Metal Shredder Machine 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 Shredder Machine Global Market Report 2024, The metal shredder machine market size has grown strongly in recent years. It will grow from $10.1 billion in 2023 to $10.67 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rise in metal scrap generation, environmental regulations, scrap metal value, growth in industrialization, circular economy initiatives.
The metal shredder machine market size is expected to see steady growth in the next few years. It will grow to $12.56 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to increasing focus on sustainability, urbanization trends, e-waste recycling needs, government initiatives for recycling, resource scarcity concerns. Major trends in the forecast period include energy efficiency and sustainability, integration of iot and data analytics, customization for specific metal types, regulatory compliance, global expansion of recycling facilities.
Rising demand for metal recycling is expected to propel the growth of the metal shredder machine market going forward. Metal recycling refers to the procedure of using waste metal, processing it, and producing new metal. Metal shredder machines are used in the metal recycling industry for reducing the size and volume of various metal materials. For instance, according to GLE Scrape Metal, a US-based company with environmentally friendly processing and recycling of ferrous & non-ferrous metals stated that 40% of worldwide steel production is made using recycled steel, while about 42% of crude steel in the U.S. is made of recycled materials. Therefore, the rising demand for metal recycling is driving the growth of the metal shredder machine market going forward.
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The metal shredder machine market covered in this report is segmented –
1) By Machine Type: Mechanical Shedder Machine, Shock Wave Shredder Machine
2) By Application: Iron And Steel, Aluminum And Copper, Non-Ferrous Metals
3) By End-Use: Automotive Industry, Construction Industry, Manufacturing Industry, Electronic Industry, Recycling Industry
Product innovations are a key trend gaining popularity in the metal shredder machine market. Major companies operating in the metal shredder machine market are adopting new innovative products to sustain their position in the market. For instance, in October 2022, AIShred, a China-based company engaged in manufacturing and selling shredders, sorting equipment, crushers, and screening equipment for recycling and processing, launched a new generation of GSE 3 Single Shaft Shredder. It is uniquely designed with stronger shredding capacity and better processing effect in the processing of greater capacity and complex materials in large production lines. In addition to being dependable, the shredder offers improved durability and discharge materials of higher quality.
The metal shredder machine market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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