Scrap Metal Shredder Market Analysis: Iron and Steel Type Segment Accounted for Significant Share of the Global Market – Market Report for 2023-2030 | RationalStat Analysis
Rationalstat LLC
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Rationalstat LLC
Global Scrap Metal Shredder Market is expected to hit revenues of US$ 796.5 million by 2030, with an annual growth rate of more than 4%
Wilmington, Delaware, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Global Scrap Metal Shredder Market was estimated at US$ 580 million in 2022 and is expected to grow at a significant CAGR of 4% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
A scrap metal shredder is a machine used in the recycling business to shred large metal objects like cars, appliances, and industrial equipment into smaller, more manageable scrap metal pieces. To tear apart and shred metal components into smaller fragments, these shredders use diverse mechanisms such as revolving hammers, cutting blades, or shearing motions.
Recycling and sustainable practices have become more important as environmental awareness and legislation have grown. Scrap Metal Shredders serve an important part in recycling since they utilize scrap metal, minimizing the requirement for mining and refining new resources.
According to a deep-dive market assessment by RationalStat, the global Scrap Metal Shredder market has been analyzed on the basis of market segments, including type, design, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global Scrap Metal Shredder market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Scrap Metal Shredder market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
GlobalScrap Metal Shredder Market: Segmental and Market Share Analysis
On the basis of type, diesel shredder segment holds major share of the market by capturing the highest CAGR during the forecast period.
On the basis of application, iron and steel are the most recycled materials, they are expected to grow at the fastest CAGR during the forecast period. They are also among the simplest to recycle because they can be magnetically separated from trash.
Report Synopsis
Report Metrics
Details
Base Year
2023
Forecast Period
2023-2030
Base Year Market Size
US$ 580.0 million
Market Size Forecast
US$ 796.5 million
Growth Rate
4.0%
Key Market Drivers
Introduction of stringent data privacy regulations
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Scrap Metal Shredder market include,
In November 2021, Metso Outotec invested in Alwar, India, to increase its production capacity for mobile track-mounted crushers and screening equipment.
Some of the prominent players and suppliers operating and contributing significantly to the global Scrap Metal Shredder market growth include Granutech-Saturn Systems, Komar Industries, Inc, Forrec srl, Williams Patent Crusher and Pulverizer Co., Inc., SSI Shredding Systems, Inc., Fornax Technology Pvt Ltd, Metso Corporation, Lindemann GmbH, Vecoplan AG, and ZATO srl,among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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