03 September 2022
Douglas Insights has added Industrial Shredder Market research reports in its comparison engine. These reports enable market analysts and researchers to gain some perspective on the current and future market trends related to key market drivers of growth, limitations, growth opportunities, and future predictions. Douglas Insights provides access to a comprehensive range of specialist market reports allowing researchers to make comparisons based on prices, dates, publisher ratings, and table of contents.
The Industrial Shredder Market is expected to grow at a CAGR of 3.7 % between 2021 and 2028. Shredders are equipment that shreds various materials, such as paper and metal. In contrast, industrial shredders are heavy-duty equipment that shreds dense and light industrial materials for recycling or destruction. These shredders are also used to separate or reduce the size of different materials like metal, rubber, or paper, converting them into different dimensions. Some of the significant uses of industrial shredders include shredding waste material to reduce its volume and processing and restructuring heavy materials. These uses are propelling the demand for industrial shredders.
The Covid-19 pandemic hurt products across various industries and supply chains, reducing sales for industrial shredders. However, things have improved, and the Industrial Shredder Market is expected to perform well in the upcoming years.
One of the significant drivers of growth in this market is the growing sales of electric vehicles and the increasing production of lightweight vehicles. Due to the rising number of incentives from the government to introduce electric vehicles, many electric vehicle manufacturers are trying to improve and expand their production capabilities. These manufacturers are achieving this goal by using scrap or recycled metal. This shift is expected to result in significant opportunities in the Industrial Shredder Market. Furthermore, lightweight vehicles also hold immense growth potential, and their increasing adoption worldwide would increase the demand for industrial shredders.
Due to an increase in pollution levels worldwide, governments are now introducing policies and regulations to scrap old cars, which would also boost the growth of the industrial shredder market. Other market drivers include developments in automation and the increasing need for recycling to support expanding urbanisation while catering to the demand of the world's ever-growing population.
However, one of the major restraining factors hindering the growth of the industrial shredder market is the large amount of capital investment required to meet the growing demand for shedding. Moreover, reduced scrap metal prices also take a toll on the industrial shredder market, resulting in tighter profit margins for business owners.
The industrial shredder market can be divided into seven regions: North America, South America, Europe, Asia Pacific, Middle East, and Africa, with North America and Europe dominating the market with the highest market share. One of the primary reasons for this domination is an increase in government regulations encouraging the scrapping of old cars to control pollution. Consequently, the demand for industrial shredders in these regions is increasing. Moreover, recycled scrap metal utilised for secondary metal production is used at a much higher rate in Europe than in the regions mentioned above.
Thus, an increasing focus on a circular economy coupled with stringent government regulations regarding energy consumption are major factors driving market growth in the European region. Furthermore, the demand for metal scraps in this region is comparatively stable, another factor contributing to Europe's market dominance in the industrial shredder market.
Key prominent players in the industrial shredder market include ECO Green Equipment LLC, Metso Corporation, MOCO Maschinen- und Apparatebau GmbH & Co. KG, Hammermills International, WEIMA Maschinenbau GmbH, Servo International, Brentwood Recycling Systems, UNTHA shredding technology Gmbh, WEIMA Group GmbH & Co. KG, Genox Recycling Tech Co., Ltd, Global Development and Global CG Group, Forrec SRL Recycling Systems, etc.
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