Westford, USA, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The Asia Pacific region is dominant in the metal shredder machine market, driven by the increasing need for efficient and cost-effective metal recycling solutions and stringent government regulations regarding scrap metal recycling. The construction sector is one of the leading consumers of scrap metal globally and accounts for a significant share of total demand. As construction activity continues to rise, the demand for metal shredder machines is also expected to increase. Furthermore, with the increasing demand for automobiles in emerging economies, efficient and cost-effective metal recycling solutions are becoming more crucial. Metal shredder machines are essential in recycling as they help reduce the size of metal objects.
The metal recycling industry is rapidly growing, and according to the latest projections by SkyQuest, it is expected to reach a whopping USD 368.7 billion by 2028. With the increasing demand for recycled metals, the sales of metal shredder machines are also projected to rise. These machines are crucial in metal recycling as they help break down large metal objects into smaller, more manageable pieces that can be easily recycled.
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Browse in-depth TOC on "Metal Shredder Machine Market"
- Pages - 268
- Tables - 64
- Figures - 70
Metal shredder machines are important devices used in recycling plants to reduce the size of metal objects to be more easily recycled. These machines shred metal into smaller pieces, making it easier to transport and process. In addition to recycling plants, metal shredder machines are used in other industries, such as the automotive industry, to shred car parts and other metal components.
Prominent Players in Metal Shredder Machine Market
- Metso (Finland)
- UNTHA (Austria)
- SSI Shredding Systems (US)
- Ecostan (India)
- BCA Industries (US)
- MOCO (Germany)
- WEIMA (US)
- Hammermills International (US)
- Rapid Granulator (Sweden)
- ECO Green Equipment (US)
- ANDRITZ (Austria)
- St. Jude Medical (US)
- Granutech-Saturn Systems (US)
- Vecoplan (US)
- Brentwood (US)
Mechanical Shredder Machine Segment to Drive Higher Sales owing to Increasing Demand for Recycled Metal Globally
The mechanical shredder machine segment is predicted to take the lead in the metal shredder machine market, with the highest CAGR from 2022 to 2028. This growth can be attributed to the frequent use of mechanical shredder machines in metal recycling and scrap yards, which are used to reduce waste to a uniform size and shape so that it can be further segregated and processed. China is one of the major producers of steel in the world, and the country sources a significant portion of the raw materials required for steel making from scrap recycling. According to SkyQuest, China relies on scrap recycling for roughly 20% of its raw material needs for steel production, making it a key market for metal shredder machines.
In 2021, the Asia Pacific region dominated the metal shredder machine market, which held the largest market share globally. The region's dominance is expected to continue, and its market is anticipated to expand rapidly in the coming years. The growth of the Asia Pacific market can be attributed to several factors, including rapid population growth, supportive government policies for waste management and environmental protection, and rising economic development.
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Non-Ferrous Metals Segment to Attain High Growth Rate Thanks to Its Increasing Application Scope in Structural Construction and Transportation
The non-ferrous metals segment dominated the metal shredder machine market in 2021 and is expected to continue its dominance and grow significantly from 2022 to 2028. Non-ferrous metals are metals that have an absence of iron and are used in various applications, including structural construction, electrical and electronic applications, and transportation. They are preferred over ferrous metals due to their lightweight, increased strength, non-magnetic characteristics, higher melting points, and corrosion resistance, making them ideal for various industries.
The metal shredder machine market in North America is expected to experience exponential growth between 2022 and 2028. The growth is primarily driven by the presence of major factories in the region, as well as the expanding demand for metal scrap from numerous industries. In addition, the government's increasing focus on minimizing metal waste production and encouraging the circular economy is also expected to contribute to market expansion in the region. With more businesses and organizations seeking sustainable solutions, the demand for metal shredder machines will likely increase significantly in the coming years.
The metal shredder machine market is a rapidly growing industry that has gained significant traction in recent years. To better understand this market, a comprehensive research report has been published that delves deep into its size, share, and key players. In addition, this report provides a complete overview of the market, including its growth prospects, challenges, and opportunities.
Key Developments in Metal Shredder Machine Market
- Steel Dynamics Inc. (SDI), a leading steel and metal recycling company headquartered in Fort Wayne, Indiana, has successfully acquired Roca Acero S.A. de C.V., a well-established scrap processing company based in Monterrey, Mexico. The acquisition of Roca Acero is a strategic move for SDI, allowing the company to expand its presence in the rapidly growing Mexican market. In addition, the acquisition will enable SDI to access a new customer base and strengthen its supply chain in the region.
- Lindemann Metal Recycling Solutions, a leading recycling equipment and systems manufacturer, has announced its plans to launch a midrange product line to complement its existing product offerings. The new product line is aimed at meeting the growing demand for high-quality recycling equipment that is both affordable and efficient. In addition, the company has strategically positioned five scrap processing facilities near high-volume industrial scrap sources throughout central and northern Mexico.
- Greenwave Technology Solutions Inc., a leading metal recycling company based in Chesapeake, Virginia, has announced its plans to expand its operations by opening two new metal recycling facilities in the next eight weeks. With 11 existing Virginia and North Carolina facilities, the company is well-positioned to provide metal recycling services to regional clients. The new facilities will allow Greenwave Technology Solutions Inc. to increase its capacity to process and recycle a wider range of metals, including copper, aluminum, steel, and other valuable metals.
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Key Questions Answered in Metal Shredder Machine Market Report
- How do different factors impact the target market, and what strategies can market players use to benefit from these trends?
- How do market players in the target industry anticipate and respond to emerging technologies and innovations that have the potential to influence the market?
- What role can market players play in shaping regulatory changes and policy decisions that affect their industry, and how can they leverage these changes to their advantage?
- What specific supply chain, distribution, and logistics challenges currently face market players in the target industry, and what solutions can be implemented to overcome them and promote growth?
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