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Global Scrap Metal Shredder Market to Grow at a CAGR of 2% During 2021-2026, Aided by the Growing Environmental Concerns

According to a new report by EMR titled, ‘Global Scrap Metal Shredder Market Report and Forecast 2021-2026’, the global market for scrap metal shredder is expected to grow at a CAGR of 2% between 2021 and 2026.

Ferrous scrap, or iron and steel scrap, is the most recycled material in the world. It comes from a wide range of consumer products like automobiles and household appliances to industrial structures and equipment like buildings, trains, railroads, and bridges, among others. According to the U.S. Geological Survey, around 65 million metric tons (143 billion pounds) of ferrous scrap was processed around the world in 2016. Moreover, in emerging countries like India and China, electronic waste or e-waste is becoming a serious public health and environmental issue. Thus, the stringent regulatory compliance and the growing focus to design and regulate e-waste recovery regime in such nations are expected to provide enhanced growth opportunities to the market in the forecast period.

Meanwhile, the easy availability of consumer electronics like smartphone, laptops, headphones, television sets, and others through e-commerce platforms like Alibaba Group Holding Ltd (NYSE: BABA) and, Inc. (NASDAQ: AMZN) is resulting in the increased sales of electronic products, which will further create a need for eco-friendly recycling techniques. Currently, only 20% of the global e-waste is recycled due to poor extraction techniques according to the UN report. The growing focus to extract cobalt from e-waste to produce laptop, smartphone, and electric car batteries is expected to enhance the demand for scrap metal shredder in the forecast period.

Market Breakup by Type, Design, Application, and Region:

  • By type, the market can be bifurcated into diesel and electric.
  • On the basis of design, the industry is divided into low-speed high-torque shredders, pre-shredders, and single-shafted shredder, among others.
  • Based on application, the market is segmented into ferrous metals, automobile, e-scrap, heavy scrap, steel, turnings, and firearms, among others.
  • Region-wise, the global market for scrap metal shredder can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for scrap metal shredder is being driven by the growing product demand in various industries, particularly automotive and electronics. 
  • The rising consciousness regarding environment and the favourable government initiatives are further aiding the market growth. 
  • The market is receiving a further impetus with the growing urbanisation and industrialisation.
  • The rapid technological advancements and the growing R&D activities will significantly contribute to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for scrap metal shredder for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, designs, applications, and major regions of scrap metal shredder.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for scrap metal shredder are Granutech-Saturn Systems, Komar Industries, Inc, Forrec srl, Williams Patent Crusher and Pulverizer Co., Inc., SSI Shredding Systems, Inc., and Fornax Technology Pvt Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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