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I AgreeAnalysis of Europe Scrap Metal Shredder Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Europe scrap metal shredder market is anticipated to project a valuation of US$ 390.5 million in 2023 and further expand at a CAGR of 5.2% to reach US$ 650.9 billion by the end of 2033.
The growth is attributed to the increasing demand for metal recycling generated by various industries, as metal is non-renewable in nature, thus, their over-utilization or lack of recycling creates its scarcity, hence, rising their prices. To control such a scenario metal recycling plays a crucial role, owing to this the demand for scrap metal shredders is rising.
Report Attributes |
Details |
---|---|
Market Size (2022A) |
US$ 338.6 Million |
Estimated Market Value (2023E) |
US$ 390.5 Million |
Forecasted Market Value (2033F) |
US$ 650.9 Million |
Europe Market Growth Rate (2023-2033) |
5.2% CAGR |
Germany Market Growth Rate (2023-2033) |
~5.7% CAGR |
United Kingdom Market Share (2023) |
~18.0% |
France Market Growth Rate (2023-2033) |
~5.8% CAGR |
NORDIC Market Share (2023) |
~11.9% |
Key Companies Profiled |
|
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Shredding machines are used in reducing the size of materials before recycling. Metal shredders are used for crushing various types of scrap metal. They are frequently employed in scrapyards and metal recycling applications to shred the debris into uniform shapes and dimensions for disassembly and additional processing. They are available in a variety of sizes, from little machines that can shred tin cans and pennies to gigantic ones that can process up to 4,000 tons of metal per day at 10,000 HP.
Due to the declining resource of metals and the increase in waste generation, the need for recycling metals is of utmost importance. Scrap metal shredders are a key equipment in recycling processes.
Over the 2018-2022 historical period, the Europe scrap metal shredder market registered a CAGR of 3.9%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.7% CAGR between 2023 and 2033.
Market share analysis of scrap metal shredders based on scrap type and the country is provided in a nutshell in the above image. Under the scrap type segment, the ferrous sub-segment is estimated to reach a market share of 53.0% in 2023.
“Increased Recycling of Aluminium and Steel to Supplement the Market’s Growth”
New steel and other metal production can be costly and resource-intensive. When comparing energy costs alone, recycling ferrous metals is around 75% less expensive than mining and processing new resources.
Metals like aluminium need to be melted and then shaped in order to be recycled. Metal shredders take used metal goods and shred them into pieces small enough to be reused for other purposes that make them an essential part of the metal recycling process. The variety of metal goods that need to be destroyed is vast; they might be as big as car frames or as small as soda cans.
Europe’s metal scrap recycling market was estimated to be around US$ 16.9 Bn and is expected to grow at a CAGR of 5.5%. Europe produces over 160 Mn tons of steel every year and recycles over 85% of steel.
Increasing steel and other metal recycling activities to enable a circular economy in Europe will increase the demand for scrap metal shredders.
“Environmental Benefits of Recycling Metals Driving Market Growth”
Recycling of metals significantly contributes to both the circular economy and climate policy by reducing the consumption of raw materials, energy, and CO2 generation. Metal recycling decreases the amount of metals dumped in landfills thus preventing the loss of important raw materials.
Recycling metals reduces the energy required to extract metals from ores by 60 to 95 percent while maintaining the quality, which has an immediate influence on the price of re-processing the metals into finished goods.
When compared to their primary manufacturing, the manufacture of metals from secondary raw materials greatly reduces CO2 emissions. It also lessens the resulting impact on the land and water. Recycled metal reduces air pollution by 80%, water usage by 40%, and water pollution by 76%.
Environmental benefits associated with recycling metals and increasing awareness regarding this will positively impact the market.
“Export of Recyclable Materials from Europe to other Countries”
In Europe, the quantity of metal scrap from recycling that satisfies industry standards frequently outpaces the demand and is under-utilized in the manufacture of metals.
Scrap currently accounts for 48% of EU steel production, and as the switch to low-carbon steel manufacturing quickens, more scrap will be required. But the EU is exporting its scraps in greater quantities to other nations with poorer environmental, climatic, labor, and social standards.
The export of recyclable materials to other countries can hamper the demand for scrap metal shredders.
In the UK, the majority of recycled metal in use is made up of iron and steel. It is mostly sourced from trash generated by industry, municipalities, and households.
The ongoing recycling activities and shift towards recycling metals to reduce waste and reduce cost will supplement the market growth.
Germany is a leader in the automotive industry and is the largest exporter of automobiles in Europe. The country’s construction industry is also very prominent with a total valuation of US$ 486.5 Bn in 2021.
The large automotive and construction industry requires huge amounts of metals to meet the demand of their users. The growing demand for metals from these industries will require the recycling of existing metal scrap due to the limited availability of these metals.
The German market for scrap metal shredders is predicted to reach an estimation of US$ 97.6 Million by 2023.
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The size of the metal that needs to be shredded varies a lot and thus a wide variety of shredders are available that can handle them. The size of the metal to be shredded can range from a small to a big scrap of an entire automobile.
Large shredders are very effective in shredding large pieces of metal scrap along with smaller ones. The demand for large shredders is expected to rise due to the shift toward electric vehicles. The transition will require the shredding of the old conventional vehicle for the production of newer ones.
Compared to gasoline-powered shredders, electric shredders take up less space, are easier to operate and maintain, are more affordable, and consume a lot less energy. Electric shredding equipment is adequately powered to process a variety of materials.
Additionally, with the exhaustion of fossil fuels and awareness regarding the harmful effects of fossil fuels on the environment is shifting end users to adopt electric-powered shredding machines.
Key players in scrap metal shredders include Advance Hydrau Tech Pvt. Ltd., Coparm Srl, DILOYA GROUP, Doyle Machinery Ltd., Franklin Miller Inc, Granutech-Saturn Systems, HENAN FIER MACHINERY CO. LTD, JMC Recycling, Metso Outotec Corporation, Shred-Tech, SSI Shredding Systems, Inc., WEIMA, Williams Patent Crusher and Pulverizer Co., Inc., XRD, and Zato North America Corp.
Manufacturers of scrap metal shredders are investing in R&D and capacity expansions to align themselves with ever-changing trends and increasing demand. Players are focusing on providing a wide range of equipment that are required during the recycling process of metals.
Fact.MR has provided detailed information about the price points of key manufacturers of scrap metal shredders positioned across countries, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The Europe scrap metal shredder market is valued at US$ 390.5 million in 2023.
Worldwide demand for scrap metal shredders is anticipated to reach US$ 650.9 million by 2033-end.
During 2018-2022, sales of scrap metal shredders increased at 3.9% CAGR.
Germany tops Europe’s scrap metal shredder market accounting for a 25.0% market share in 2023.
The ferrous scrap type accounts for maximum consumption holding 53.0% of the Europe market.