New study by market research firm Fact.MR on the scrap metal shredder market. Latest trends, forecasts, and competitive landscape analyzed.
Rockville, Nov. 28, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, market research and competitive intelligence provider, the Europe scrap metal shredder market is estimated at US$ 390.5 million in 2023 and is expected to expand at a CAGR of 5.7% during the forecast years of 2023-2033.
Metal shredders are used to shred or reduce metal into compressed sizes and shapes for easy handling before they are sent for recycling. Growth in the demand for the shredder can be anticipated on the back of the growing metal waste management and recycling industry.
When compared to their primary manufacturing, the manufacture of metals from secondary raw materials greatly reduces CO2 emissions. It also lessens the resulting impact on the land and water. Recycled metal reduces air pollution by 80%, water usage by 40%, and water pollution by 76%.
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Several environmental benefits that are offered by recycling instead of extracting the metals from ores will enhance recycling activities, which in turn will propel the metal shredder demand.
Key Takeaways from Market Study
Europe scrap metal shredder market is projected to expand at a CAGR of 5.7% and be valued at US$ 650.9 million by 2033
The market witnessed a 3.9% CAGR for the period of 2018-2022
Germany dominates Europe’s scrap metal shredder market with a 25.0% market share in 2023
Key companies in the market are Advance Hydrau Tech Pvt. Ltd., Coparm Srl, DILOYA GROUP, and Doyle Machinery Ltd
The hydraulic-powered scrap metal shredder is a growing segment and has a growth rate of 4.8% from 2023-2033
Ferrous scrap type is expected to be the crown of the market with a growth rate of 53.0% from 2023-2033
“Various government and non-governmental organization’s initiatives to recycle scrap metal to reduce waste is expected to drive the market,” says a Fact.MR analyst.
Segmentation of Scrap Metal Shredder Industry Research
By Scrap Type :
By Scrap Source :
Building and Construction
By Size :
By Power Source :
By Rotor Diameter (mm) :
Less than 300
By Cutting System :
By Number of Shafts :
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Players Key Stratagems
The market players are offering a complete equipment range that is equipped with the latest technology required for recycling processes in various recycling industries. Players are focusing on providing customized solutions according to end user’s needs.
Players also offer technical support and services such as consulting, planning, installing, and others on waste management to their customers. Focus toward strengthening the distribution channel to capture a large market remains the key strategy.
Key Companies Profiled
Advance Hydrau Tech Pvt. Ltd.
Doyle Machinery Ltd.
Franklin Miller Inc
Zato North America Corp.
What are the Factors Driving the Market’s Growth Across the UK?
In the UK, the majority of recycled metal in use is made up of iron and steel. It is mostly sourced from trash generated by industry, municipalities, and households.
The annual consumption of finished and semi-finished steel goods in the UK is around 11.9 Mt. Currently, the UK generates 11.3 Mt of steel scrap annually, of which 2.6 Mt is utilized by the domestic steel sector.
According to National Packaging Waste (NPWD), the UK recorded a rate of 68% in aluminium packaging recycling in 2021 with recycling over 156,000 tons of aluminium.
The ongoing recycling activities and shift towards recycling metals to reduce waste and reduce cost will supplement the market growth.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe scrap metal shredder market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of scrap type (ferrous metals, non-ferrous (aluminium, brass, carbide, copper, lead, titanium, others)), scrap source (automobiles, steel, building and construction, electronics, others), size (mini, small, large), power source (hydraulic, electric, hybrid), rotor diameter (less than 300 mm, 300-500 mm, 500-700 mm, above 700 mm), cutting system (horizontal, vertical), and a number of shafts (single-shaft, double-shaft, triple-shaft, quad-shaft), across major countries of Europe (Germany, UK, France, Spain, Italy, BENELUX, NORDIC, Rest of Europe).
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