Europe Tire Recycling Machine Market

The Europe Tire Recycling Machine Market By Machine Type (Shredders, Extrusion, Grinder), By Mechanism (Automatic, Semi-Automatic), By Tire Type (Summer Tires, Winter Tires) & By Country (Germany, UK, France) - Global Market Insights 2023-2033

Analysis of Europe Tire Recycling Machine Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Europe Tire Recycling Machine Market (2023-2033)

The europe tire recycling machine market is anticipated to project a valuation of US$ 870.9 million in 2023 and further expand at a CAGR of 3.3% to reach US$ 1,200.0 million by the end of 2033.

In the coming years, the consumption and production are anticipated to grow by four times. Inadequate management of rubber production, use, and burning results in the release of toxic gases such as carbon monoxide, cyanide, Sulphur dioxide, and many more leading to environmental pollution, particularly affecting the atmosphere.

Report Attributes

Details

Market Size (2022A)

US$ 854.6 Million

Estimated Market Value (2023E)

US$ 870.9 Million

Forecasted Market Value (2033F)

US$ 1,200.4 Million

Europe Market Growth Rate (2023-2033)

3.3% CAGR

Germany Estimated Market Value (2023E)

US$ 217.7 Million

France Market Growth Rate (2023-2033)

~3.9% CAGR

United Kingdom Market Growth Rate (2023-2033)

~2.1% CAGR

Key Companies Profiled

  • Fornnax Technology Pvt Ltd.
  • Eco Green Equipment
  • Yuxi Machinery Equipment(zhengzhou) Co.,Ltd
  • Shred-Tech
  • FOR REC S.P.A.
  • SMS Hydrotech
  • Tire Shredder Unlimited
  • Fabtex Engineering Works,
  • Others

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Historic to Future Pathway Analysis

The most economical and environmentally friendly way to dispose of used and worn-out tires is probably through tire recycling. Due to their inherent longevity, substantial volume, and potential risks to the environment and human health, tires rank among the most problematic categories of solid waste. Tire recycling then refers to the process of turning discarded tires into parts that can be used to create new products.

  • Short-Term Growth Projection: Growth in solid waste and recycling plants across the region to bolster the tire recycling machines sales over the forecast period.
  • Medium-Term Growth Projection: Consumption and utilization of the rubber across the major end-user industries spur market growth.
  • Long-Term Growth Projection: Customization and upgradation of technology to spur the market's growth spectrum over the designated period from 2023 to 2033.

Over the 2018-2022 historical period, the Europe tire recycling machine market registered a CAGR of 2.2%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 3.7% CAGR between 2023 and 2033.

Tire Recycling Machine Market Size, Share and Growth Report by Fact.MR

Market share analysis of tire recycling machines based on mechanism type and the country is provided in a nutshell in the above image. Under the mechanism type segment, the semi-automatic sub-segment is estimated to reach a market share of 67.0% in 2023.

Growing Solid Waste, Rubber Demand, and Automotive Industry to Supplement Growth”

With the growing automobile industry across Europe and the influence of electric vehicles to fuel the demand for tires and also generate a high amount of waste tires. This, in turn, augments the sales of the tire recycling machine market. Further, the use of recycled carbon black comes from the processing of recycled tires.

The rubber is extracted from the tire and used for various purposes. On recycling a tire, the material obtained offers the same quality as virgin material at reduced pricing. Hence, the demand for recycled carbon black, recycled rubber, and others increased, owing to this the market is estimated to experience high demand over the forecast period across Europe.

“High Cost of Machinery and Installation Process Challenge the Growth Spectrum of the Market”

Regular maintenance is required for a tire recycling machine to operate effectively. Further, with the high cost associated with the manufacturing and installation process, owing to this, only a few market participants are active. This, in turn, strains the market growth.

Additionally, the machine has substantial initial and ongoing maintenance costs, which also restrains its ability to grow. The installation of recycling equipment requires a sizable initial investment and high ongoing costs, which restrain the market's expansion. It also requires a lot of maintenance and expertise, so a shortage of skilled workers could pose a problem for the market's expansion.

Country-wise Insights

What are the factors driving the market’s growth across Germany?

Since, the year 1999, the European Commission banned the storage of tires at landfills. Thereby, resulting in the demand for tire recycling machines across Germany. This indicated that Germany is able to effectively recycle tire waste, which, in turn, creates immense growth opportunities for the market to grow and flourish in the country over the period.

Furthermore, Germany leads the automobile industry across Europe. Germany’s well-established infrastructure, skilled labor, economic framework, and support from the government and regional authorities bolster the market growth. The tire recycling machine market is estimated to grow at a CAGR of 3.7% during the forecast period and reach a valuation of 312.0 million US$ by the end of 2033.

Why is the France tire recycling machine market expected to be highly lucrative?

The efforts led by France government to reduce or recycle rubber waste bolster the demand for the market across France during the forecast period.

The globalization of society has led to an increase in tire demand, which is accompanied by a rise in the manufacture of used tires. Because they are not biodegradable and are frequently improperly stored and disposed of, waste tires are a global issue and a growing environmental risk. Uncontrolled burns and other environmental dangers are posed by this solid waste. Nearly a billion tires are thought to reach the end of their useful lives annually, and more than half of them are simply thrown.

In addition, continuous support from the European Commission flourishes the growth of the market at a CAGR of 3.9% during the designated period and it is estimated that the market will reach a valuation of 148.1 million US$ in 2023 to 216.1 million US$ by 2033.

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Category-wise Insights

Why shredder machine type has high demand in the tire recycling machine market?

Shredder machine type to gain high traction over the forecast period. Shredder values US$ 367.5 million in 2022 and is estimated to reach a valuation of US$ 504.2 million in 2033, with a growth rate of 2.8%

Rubber is widely utilized in everyday things and has a wide range of uses. Rubber is not biodegradable, therefore they linger in the soil, water, and other habitats for a very long period and pollute those areas.

Shredders are becoming a more profitable market in economically developed nations like Germany. Given that urbanization in Germany increases the volume of waste, which presents a difficulty for them, the government is establishing shredder facilities for effective waste management and recycling procedures.

Which is semi-automatic machine type segment gaining traction?

On the basis of machine type, it is anticipated that the semi-automatic machine will have enormous growth opportunities for the market during the forecast period due to growing demand from various industries. It is estimated that the market will grow at a CAGR of 3.3% during 2023 – 2033.

Furthermore, small businesses providing recycling facilities would benefit most from the semi-automatic recycling machine. Since it doesn’t require high technical skills, hydraulic fluids, lower cost production, and others increase the demand of the market in the upcoming years. When compared to automatic machines, the cost of production and maintenance is considerably lower.

Key Stratagems by Market Players

Eminent market players in the tire recycling machine market include Fornnax Technology Pvt Ltd., Eco Green Equipment, Yuxi Machinery Equipment(Zhengzhou) Co., Ltd, Shred-Tech, FOR REC S.P.A., SMS Hydrotech, Tire Shredder Unlimited, Fabtex Engineering Works, among others.

Market players are adopting various organic and inorganic strategies to meet the end-user’s requirements and enhance their market share to gain high-profit margins.

Customization and integration of technology to spur the growth outlook of the market and contribute to revenue growth. Further, long-term trade relations with the government and domestic plastic waste management plants assist manufacturers to remain competitive in the market.

Fact.MR has provided detailed information about the price points of key manufacturers of tire recycling machine positioned across countries, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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Segmentation of Tire Recycling Machine Industry Research

  • By Machine Type :

    • Shredders
    • Extrusion
    • Grinder
    • Mixer
    • Sorting
    • Washing
    • Others  
  • By Mechanism :

    • Automatic
    • Semi-Automatic
  • By Tire Type :

    • All-Season Tires
    • Summer Tires.
    • Winter Tires
    • Others
  • By Country :

    • Germany
    • UK
    • France
    • Spain
    • Italy
    • BENELUX
    • NORDICs
    • Portugal
    • Rest of Europe

- FAQs -

What is the Europe tire recycling machine market size?

The Europe tire recycling machine market is valued at US$ 854.6 million in 2022.

How did the market perform over the last few years?

During 2018-2022, sales of tire recycling machines increased at 2.3% CAGR.

How is the market for tire recycling machines expected to fare going forward?

The demand for tire recycling machines is anticipated to reach US$ 1200.4 million by 2033-end.

Which country leads the tire recycling machine market in 2023?

Germany tops the Europe tire recycling machine market accounting for 25.0% market share in 2023.

Which country has the highest growth in terms of CAGR?

France accounts for the highest CAGR of 3.9% over the forecast period from 2023-2033.

Europe Tire Recycling Machine Market