DUBLIN--(BUSINESS WIRE )--The "Industrial Shredders Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global industrial shredders market registered market value of US$ 809.7 Mn in 2020. The market is projected to reach US$ 982.2 Mn by 2029 growing with a growth rate of 2.2% throughout the forecast period from 2021 to 2029.
Industrial shredders are used to shred waste material including metals, plastics, rubber, and wood among others facilitating easy disposal and recycling of the material. Growing concern for overconsumption and stringent government and environment organization regulation for waste disposal and recycling significantly highlighted the importance of industrial shredders, therefore, the market expected to witness gradual growth in coming years.
Two Shaft Shredders Claimed Higher Market Value Compared to Other Available Alternatives
Industrial shredders are available in variants distinguished according to the number of rotating shaft employed. These variants include single shaft shredder, two shaft shredder, three shaft shredder, and four shaft shredder. These shafts are powered by high torque motors and have projection to crush and shred objects fed into the shredders. At present, two shaft industrial shredders dominate the overall industrial market in terms of market value. Two shaft shredders are extensively used to shred a wide variety of material including automotive and heavy castings, depending upon the size and capacity of shredders. Shingle shaft and three shaft shredder machines run in close quarters to claim second spot in the market.
Municipal Solid Waste Ready to Hand Over its Lead to Waste Electronic and Electronic Equipment Recycling
Municipal Solid Waste (MSW) application is one the biggest consumer of industrial shredders market and claims majority of market value in 2020. Municipal organizations deals with heaps and tons of daily waste including a variety of material need to be disposed and recycle. Manual sorting and shredding of such huge volume of waste are next to impossible and hence municipal waste management companies incorporated industrial shredders to reduce the volume. However, waste electronics and electronics equipment (WEEE) recycling rapidly catching up on municipal solid waste in incorporating industrial shredders. Significant amount of e-waste is generated and process of recovering metals and other material from e-waste gained considerable momentum. This momentum is expected to help waste electronics and electronics equipment (WEEE) recycling application to gain advantage over municipal solid waste in coming years in terms of market value.
Stringent Environmental Regulation Allowing North America to Lead the Global Industrial Shredder Market
North America has more than 1,900 landfills to dispose of municipal and other wastes. However, the region has committed itself towards recycling and proper waste disposal. Government and environmental organizations in these regions formulated stringent regulation for waste disposal and recovery providing ample opportunities for industrial shredders market to grow in North America.
Positive attitude towards waste recovery and stringent regulation are driving the overall industrial shredders market in North America. The region is followed by Europe and Asia Pacific respectively. Home to several rapidly developing industries, Asia Pacific projected to emerge as the fastest and most promising region in terms of market value across the globe. Dense population and growing waste electronics and electronics equipment (WEEE) expected to drive the industrial shredders market in coming years.
Key questions answered in this report
By Number of Shaft (2019-2029; US$ Mn)
By Application (2019-2029; US$ Mn)
Geography Segment (2019-2029; US$ Mn)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900