Global Metal Shredder Machine Market Size, Share, Growth Analysis, By Type(Mechanical Shredder Machines, Shock Wave Shredder Machines), By Application(Iron, Steel) - Industry Forecast 2022-2028

Global metal shredder machine market size was valued at USD 9.56 billion in 2021, and it is expected to reach a value of USD 12.30 billion by 2028, at a CAGR of 3.7% over the forecast period (2022-2028).

An industrial tool for shredding scrap metal into smaller pieces is a metal shredder machine. Because it serves to minimise the volume of the metal waste, shredding is crucial in the recycling of metal because it makes it simpler to transport and store. The market for metal shredder machines has been driven by the rising demand for metal recycling across numerous industries, including manufacturing, construction, and the automotive. The market for metal shredder machines is additionally being driven by the increased focus on sustainability and environmental protection, as they help to reduce the environmental impact of disposing of metal trash.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global metal shredder machine market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

The global metal shredder machine market has been segmented based on type application analysis, and region. Based on type, the market is segmented into mechanical shredder machines and shock wave shredder machines. Based on the application analysis, the market is segmented into iron and steel, aluminum and copper, and non-ferrous metals. Based on region, the metal shredder machine market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The market for metal shredder machines is being propelled by the rising need for metal recycling across a number of sectors, including manufacturing, construction, and the automotive industries. The market for metal shredder machines is also being fueled by the increased focus on sustainability and environmental protection, as they help to lessen the environmental impact of disposing of metal trash. The market is expanding as a result of the growing use of metal shredder machines in recycling facilities and scrap yards.

Restraint

The high initial cost of the machines is one of the main barriers to the market for metal shredder machines. The market is also confronted with issues relating to the supply and quality of scrap metal, which may have an impact on how profitable metal recycling operations are. Moreover, small-scale operators and start-ups may have difficulties due to the high maintenance and operating costs associated with metal shredder equipment.

Market Trends

The market for metal shredder machines is exhibiting a number of key trends, including an increase in the use of automation and digitalization technologies. While digitalization technology can offer real-time data and insights to optimise the performance of the equipment, automation can help to increase the effectiveness and productivity of metal shredding processes. Increasingly being used for on-site metal recycling, mobile and portable metal shredder machines provide flexibility and convenience. The industry is also seeing a major increase in the development of new shredder technologies, such as high-torque and hybrid shredders, which offer better performance, efficiency, and durability.