Metal Recycling Equipment Market Size Worth $9.93 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Jan. 12, 2022 /PRNewswire/ — The global metal recycling equipment market size is expected to reach USD 9.93 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. Rising demand for recycled metals from various end-use industries, coupled with the increasing generation of metallic waste globally, is expected to drive the demand for metal recycling equipment.
Key Insights & Findings from the report:
- By equipment, baler press accounted for the largest revenue share of over 20.0% in 2020 owing to the implementation of regulatory frameworks and growing investment in metal recycling services leading to companies strengthening their metal recycling capabilities
- The separators equipment segment accounted for the second-largest revenue share in 2020 owing to the growth in e-waste, coupled with the rising focus of market players on metal recycling, disposing, and reusing metals to ensure a sustainability
- The shredders equipment segment is projected to expand at the fastest CAGR of 6.8% from 2021 to 2028 on account of the benefits of recycling such as nudging manufacturers to opt for secondary metal production processes for cost-effective and environmental-friendly manufacturing
- Asia Pacific led the market and accounted for over 40.0% share of the global revenue in 2020. This is due to the rising industrial construction and infrastructure activities in emerging nations, such as India, Vietnam, Thailand, and Malaysia
- In October 2021, U.S.-based SA Recycling LLC acquired PSC Metals LLC for USD 290 million. This acquisition enabled SA recycling to gain access to the scrap metal processing facilities of PSC Metals in North America, thereby increasing its capabilities
Read 137 page market research report, “Metal Recycling Equipment Market Size, Share & Trends Analysis Report By Equipment (Baler Press, Shredders, Granulators, Shears, Separators), By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
The demand for recycled metals is increasing rapidly from the construction, automotive, electronics, and food and beverage industries owing to the product’s environmental friendliness and the ability to help reduce emissions, energy consumption, and the cost of the production, thereby augmenting the demand for metal recycling equipment in the coming years.
Growing concerns related to the depletion of non-renewable resources, coupled with the high manufacturing cost of primary metals, have augmented the demand for metal recycling in various end-use industries. Furthermore, in various developing countries, the government is focusing on improving recycling infrastructure, thereby augmenting the equipment demand.
The emergence of modern technologies has proved to be effective in terms of identifying different kinds of metals, especially ferrous. Increasing demand for scrap has compelled scrap yards to install technologically advanced and sophisticated recycling equipment, thereby fueling the market growth.
Grand View Research has segmented the global metal recycling equipment market on the basis of equipment and region:
- Metal Recycling Equipment Outlook (Revenue, USD Million, 2017 – 2028)
- Baler Press
- Metal Recycling Equipment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
List of Key Players of Metal Recycling Equipment Market
- General Kinematics Corporation
- Marathon Equipment
- American Baler Company
- Danieli Centro Recycling
- Forrec Srl Recycling Systems
- BHS Sonthofen
- Metso Corporation
- JMC Recycling Ltd.
- CP Manufacturing, Inc.
- Recycling Equipment Manufacturing
- Eldan Recycling A/S
- MHM Recycling Equipment
- Ceco Equipment Ltd.
Check out more studies related to metal recycling, published by Grand View Research:
- Metal Recycling Market – The global metal recycling market size was estimated at USD 957.8 billion in 2019 and is predicted to register a compound annual growth rate (CAGR) of 4.9% from 2020 to 2027. The increasing demand for metals coupled with rising focus on conservation of natural resources and reduction in greenhouse gas emissions is the crucial factor driving the market growth.
- Recycled Metal Market – The global recycled metal market demand was estimated at 787.5 million tons in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2019 to 2025. The market growth is driven by increasing emphasis on the secondary production of metals owing to environmental concerns such as energy consumption and scrap disposal.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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