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The global metal shredder machine market size was USD 928.6 million in 2020. The market is projected to grow from USD 956.0 million in 2021 to USD 1,230.6 million in 2028 at a CAGR of 3.7% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 3.0% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in the CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.
A shredder is an equipment that shreds a variety of materials. They are utilized in a variety of sectors and come in a variety of styles, ranging from paper shredders to scrap metal shredders. Industrial shredders are frequently used to shred materials into smaller pieces so that they may be readily sorted or to reduce the expense of transporting recyclable items. An industrial shredder is a shredder that may be utilized in an industrial setting rather than only for personal usage. They can be sluggish or fast and can have low or high horsepower.
A metal shredder reduces the volume of heavy metal wastes and converts them into small, reusable pieces. Metal shredders come in a wide range of styles and sizes. As environmental concerns grow, the metal shredder system is critical equipment for both makers and consumers of recycled metal. It is primarily used in automotive and steel production sectors. This equipment is used for crushing a variety of metal debris. They are commonly used in scrap yards and metal recycling operations to minimize waste to a standard shape and size so that it may be separated and processed further.
COVID-19 Pandemic: Directly affected Production Along and Supply Chain & Market Disruption Hampered Market Growth
The COVID-19 pandemic had a huge impact on several industries & faced a major downfall. The pandemic directly affected production, hampered the supply chain, and disrupted the market. In addition, the major downfall in metal shredder machine sales significantly also impacted the market. Additionally, the projected decline in some nations focused on local production, resulting in a drop in demand for metal shredder machines.
The continuous labor scarcity caused many scrap yards to shut, which had a negative impact on industry growth. Likewise, governments took a liberal stance in this area since they are focused on public safety and key service operations. Furthermore, the economy continued to be on stagnancy as it also had a financial impact on companies & financial markets, which resulted in a sudden drop in demand. Therefore, with low output and low demand in the scrap market, the overall impact may be rated as steady. Hence, due to the extreme COVID-19 situation, the manufacturers experienced significant changes in their business operations.
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Advancement in Waste Management Techniques to Accelerate Market Growth
The advancement of waste management solutions to support metal shredding operations' move to low-grade ores is one of the important growing trends. The progression of recycling operations techniques reveals that most mineral commodity ore grades are declining, with the quantity of debris created at mining sites directly proportional to ore grade quality.
Furthermore, the need for recycling operations has expanded to support expanding urbanization to fulfill the demand from the world's growing population. In addition, the volume of waste created at mining sites, which is based on the quality of ore being mined, directly impacts the need for global scrap metal shredders. As more mines reach the end of their useful lives, the grade of the ores mined has deteriorated, resulting in increased volumes of trash that must be shredded.
Therefore, industries using updated technologies to reduce the operational costs of treatment, membrane separation, and metal recovery are contributing to the growth of the metal shredder machines market.
Development In Automation, Industrial Revolution, & Government Regulations To Bolster Market
Currently, rising industrialization and urbanization in emerging nations, such as China, Brazil, and India, are the primary factors surging the demand for metal shredders machines. In addition, the developing markets of Asia Pacific, Latin America, and Africa will provide the most appealing prospects for global participants and contribute to the metal shredder machine market growth. Additionally, the growing need for recovering metal from slag residue would provide further prospects in the metal shredder market. The major end customers utilize the metal shredders to shred automobiles and other scrapped metals to use as raw material.
Furthermore, governments are also implementing some new regulations, which will benefit the metal shredding business. Government initiatives to boost the utilization of recycled metal for economic and environmental grounds are indirectly helping the metal shredder business. Several governments, particularly those in developing nations, arrange auctions to resale metal waste used in industrial units. These auctions are attended by both small and large industrial organizations looking to buy metal scrap at a low cost. Therefore, governments across the world are working hard to clean up heavy industrial industries, which will continue to influence the market.
Reduced Scrap Demand Due To Fall In Commodity Prices To Hamper Market Growth
The metal shredding and recycling business has been hit particularly hard due to the adverse market conditions, which include tighter profit margins due to reduced scrap metal prices. Scrap metal pricing is critical to the recycling sector at all times. When scrap prices fall over an extended period of time, recycling rates fall along with them, and scrap metal companies struggle to earn a profit.
Additionally, the Chinese economy has experienced a significant influence on metal exports. As a result of the slowing demand and overabundance in China, scrap metal prices have plummeted. Furthermore, rather than decreased demand, the decline in scrap export flows is most likely attributable to the shipping container and vessel availability. Several countries stated that obtaining shipping containers for international shipments was challenging.
Hence, several other issues are being faced by the metal shredding industry. However, leading organizations are trying their best to remain in the market & maintain their stability.
Mechanical Shredder Machine To Hold Major Metal Shredder Machine Market Share During Forecast Period
According to type, the market is segmented into mechanical shredder machine and shock wave shredder machine.
The mechanical shredder machine is best positioned to lead the market by capturing the highest CAGR during the forecast period. It is attributed to their common use in scrap yards and metal recycling operations to reduce debris to a standard shape and size so that it may be separated and processed further. In addition, these types of shredding machines can process white goods, home appliances, sorted light scrap, and end-of-life cars, which are all ferrous and non-ferrous metals (ELVs).
Furthermore, the market is anticipated to witness steady growth owing to design & features such as low noise, sparking, dust, and heat buildup. This shredder breaks down the scrap into little bits, making the disposal procedure easier.
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Iron and Steel To Dominate this Market
According to application, the market is segmented into iron and steel, aluminum and copper, and non-ferrous metals.
The iron and steel segment is projected to capture the highest CAGR during the forecast period as they are the most recycled materials. They are also among the easiest to reprocess since they can be magnetically separated from garbage.
Furthermore, the aluminum and copper segment is predicted to witness considerable CAGR during the forecast period. It is attributable due to the fact that aluminum shredding is a cost-effective and ecologically friendly process. Scrapped aluminum is recycled and melted down to make new aluminum, which is a simple process that decreases metal waste. Whereas copper is the third most often used metal in the world, and it is frequently utilized in plumbing and electrical applications.
Followed by aluminum & copper, non-ferrous metals are anticipated to have a steady growth due to their indefinite recyclability. Thus, it does not deteriorate or lose any chemical qualities throughout the recycling process.
North America Metal Shredder Machine Market Size, 2020 (USD Million)
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The market report's scope comprises five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
The North America metal shredder machine market is expected to exhibit substantial growth over the forecast period. There is presence of leading manufacturers in the U.S. along with increasing demand for metal scraps in several industries such as automotive, manufacturing, and others. In addition, governments are increasingly focusing on decreasing metal waste and encouraging the circular economy. North America is likely to be one of the main areas in the global market for these machines.
Utilization of Metal Shredders Across Various Industrial Sectors in the U.S.
Moreover, the U.S. is anticipated to show major growth during forecast period. The metallic scrap's enormous usefulness has offered enormous growth potential in the shredder machine industry. In addition, industrial sector in the U.S. has taken the issue of metal waste minimization very seriously. Likewise, the capacity to recycle and reuse metallic waste or scrap has caught the interest of industries. Additionally, the necessity to decrease the amount of scrap metals for a variety of subsequent industrial uses has assisted market growth. The growing awareness of the need to reduce metallic scrap waste has boosted market development.
Moreover, Asia Pacific is expected to dominate the market due to fast economic development, population growth, and favorable government policies and laws supporting environmental preservation and waste management. Furthermore, with growing awareness of environmental well-being in various Asia Pacific countries, a strong set of frameworks for waste management has emerged, starting with waste collection and ending with waste disposal, and is expected to drive the metal recycling market in this region as well as increasing the metal shredder machines market share globally over the forecast period
Furthermore, Europe is projected to witness substantial growth in future. The recycled scrap is used for secondary metal production at a greater rate in Europe. The growing focus on the circular economy in Europe, along with tighter government rules on energy consumption, is helping to drive the market development in the region. Additionally, the demand for metal scraps is comparatively stable, with relatively balanced market growth over the years. Italy and Spain are anticipated to show substantial growth attributed to the demand for metal shredder machines from the automotive industry.
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South America is anticipated to show major growth. Minimal technological developments & moderate growth of industrialization are gaining the attention of other companies to establish their market in the region. The growth is further fueled by increasing middle-class population and strengthening economy in Brazil, Mexico, and others along with the expansion of the metal shredder industry.
The market in the Middle East & Africa is showing moderate growth, owing to increased metal recycling in end-use sectors in the region.
Major Players Are Focused On Industry-Leading Technology For Different Application
The market participants emphasize excellent region-to-region coverage with an aim to increase localization. Leading manufacturers are focusing on acquiring manufacturers of recycled metal products to enhance their presence in the recovered metal supply chain. They are inclined toward strategical approaches, including rebranding of existing products.
An Infographic Representation of Metal Shredder Machine Market
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The market research report provides a detailed analysis of the type and application. It provides information about along with leading companies and their business overview, types, and leading applications of the product. Besides, it offers insights into the competitive landscape, SWOT analysis, along with current market trends, and highlights key drivers and restraints. In addition to the aforementioned factors, the report encompasses several factors contributing to the market's growth in recent years.
Value (USD million)
By Type, Application, and Region
As per the Fortune Business Insights study, the global market value stood at USD 928.6 million in 2020.
By 2028, the global market value is expected to reach USD 1,230.6 million.
The market is projected to grow at a CAGR of 3.7%, exhibiting moderate growth during the forecast period (2021-2028).
North America is expected to hold a dominant market share, with its value standing at 310.02 million in 2020.
Within type segment, mechanical shredder machine is expected to be the leading segment in the market during the forecast period.
Development in automation, industrial revolution, and government regulation are the key drivers of the market.
Metso, SSI Shredding Systems, UNTHA, WEIMA, BCA Industries, Hammermills International, and ANDRITZ are the top companies.
The major players in the market constitute 59% - 63% of the market, which is majorly owed to their brand name and presence in multiple regions.
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