Global Shredding Equipment Market Size By Type (Single Shaft Industrial Shredder, Double Shaft Industrial Shredder), By Mobility (Mobile Shredding and Facility Shredding), By Application (Paper, Plastic, Corrugate, Tires, Glass), By Geographic Scope And Forecast
Global Shredding Equipment Market Size By Type (Single Shaft Industrial Shredder, Double Shaft Industrial Shredder), By Mobility (Mobile Shredding and Facility Shredding), By Application (Paper, Plastic, Corrugate, Tires, Glass), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Shredding Equipment Market size was valued at USD 8,500.51 Million in 2022 and is projected to reach USD 12,308.45 Million by 2030, growing at a CAGR of 4.72% from 2023 to 2030.
Rising demand for waste management is driving the market for shredding equipment. Also, Advancements in technology are anticipated to fuel market growth. The Global Shredding Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Shredding Equipment?
Shredding machines are used to reduce the size of materials for a variety of recycling purposes, such as plastic, scrap metal, e-waste, wood, and tires. The shredding process yields both finished goods and raw materials that can be reused in production.
Industrial shredding machines can be used to reduce a wide variety of items, including food, pharmaceuticals, pallets, rubber, steel, furniture, plastic drums, construction debris, containers, tires, corrugated boxes, labels, packaging, and other substantial items. Additionally, industrial shredding machines are also used to securely destroy papers, x-rays, hard disk drives, and other technological equipment to protect the privacy of individuals and corporate information.
The recycling industry relies heavily on shredding machines for a wide variety of applications, from size reduction to treating wastewater and protecting corporate intelligence. Municipal applications such as wastewater treatment facilities typically employ more compact shredding equipment with plenty of cutting teeth. Furthermore, shredding tires to reclaim rubber is an important task in the recycling sector as the recycled rubber can be used to produce hot melt asphalt, playground equipment, basketball courts, and shoe items.
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Global Shredding Equipment Market Overview
Shredders are essential tools for reducing the size of various materials through the cutting action of their contra-rotating shredding rollers or knife shafts. Industrial shredders are available in numerous designs, sizes, and variations and are typically used for the disposal of used tires, scrap metal, car wrecks, garbage, and the recycling of plastics, paper, and food items. When selecting a suitable heavy-duty shredder, it is important to consider the properties of the material to be processed, the desired shred size, the size of the in-feed material, and the volume of material to be processed.
Recovering valuable elements from used items is now more economical than mining raw materials from the ground due to technological advancements and the depletion of natural resource reserves. Innovative applications of these materials include fabrics and rugs from used soda and water bottles, mats, sports flooring, and roads from old car tires, and the automated recovery, shredding, and utilization of outdated gadgets and children’s toys to create goods with comparable functions.
Some of the major driving factors behind the growth of the global shredding equipment market are Rising demand for waste management is driving the market for shredding equipment. Advancements in technology are anticipated to fuel market growth. Some of the market opportunities are advancements in technology that are anticipated to fuel market growth.
Global Shredding Equipment MarketSegmentation Analysis
The Shredding Equipment Market is segmented on the basis of Type, Mobility, Application, and Geography.
Shredding Equipment Market, By Type
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Based on Type, the Global Shredding Equipment Market has been segmented into Single Shaft Industrial Shredder, Double Shaft Industrial Shredder, Three Shaft Industrial Shredder, and Four Shaft Industrial Shredder. Single Shaft Industrial Shredder accounted for the largest market share of 49.24% in 2022, with a market value of USD 4,186.02 Million, and is projected to grow at the highest CAGR of 5.20% during the forecast period.
Shredding Equipment Market, By Mobility
Based on Mobility, the market is segmented into mobile shredding and facility shredding. Facility Shredding accounted for the largest market share of 71.86% in 2022, with a market value of USD 6,108.20 Million, and is projected to grow at a CAGR of 4.36% during the forecast period.
Shredding Equipment Market, By Application
Based on Application, the market is segmented into Paper, Plastic, Corrugate, Tires, Glass, Construction & Demolition, E-waste, Mining, Metals, Wood, and Compost. Paper accounted for the largest market share of 24.94% in 2022, with a market value of USD 2,120.05 Million, and is projected to grow at the highest CAGR of 7.02% during the forecast period.
Shredding Equipment Market, By Geography
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On the basis of regional analysis, the Global Shredding Equipment Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America accounted for the largest market share of 35.21% in 2022, with a market value of USD 2,993.03 Million, and is projected to grow at a CAGR of 4.40% during the forecast period.
Key Players
The major players in the market are Mets Outvote, Franklin Miller Inc., Vecoplan LLC, Abbotts Office Solutions, Weimar, BCA Industries, UNTHA shredding technology GmbH, Hammer mills International, Advance Hydrae Tech, SSI Shredding Systems, Alleghany Shredders, Amari-Shred, Doppstadt, Komptech, Kromtech Americas.
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