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A tire shredder is a piece of equipment that shreds used/crumb tires to achieve the required result. Tire shredders are classified into two categories based on its working drive: hydraulic and electrical tire shredders. Shear shredders, chippers, grinders, granulators, specialized shredders, and more types of tire shredders are available. It is a recycling process of repurposing tires that are no longer fit for use in automobiles owing to wear or irreversible damage. It is also utilized to shred the tires into granular forms to make the recycling process easier.
The huge amount of tires produced, the tire's longevity, and the tire's environmental impact are all problematic components in the tire, making it a difficult source of trash. Due to the tire's great durability and lack of biodegradability, valuable landfill space may be wasted. Therefore, the rising awareness about environmental conservation, tire recycling has become a top priority. Also, one of the most significant waste sources is worn-out tires & tire recycling is required to combat this waste.
Due to the various local and international companies, the tire shredder industry may be considered extremely fragmented. Furthermore, the recycling of tires as a result of energy and natural conservation initiatives enforced by various regional governments has driven the tire recycling process equipment industry, including tire shredders. Apart from core rubber, additional by-products such as steel, wire-free chips, rubber & so on are obtained from tire shredding and may be utilized fuel additive or as fuel feedstock.
This lucrative opportunity has also prompted waste recycling companies to sell the by-products of old tires to external energy production agencies, whose market expansion has been aided by the installation and operation of tire shredders. Furthermore, the tire shredder's final products have a wide range of applications, including civil engineering, shoe manufacture, and other sustainable landscaping outlets. Additionally, Owing to the normal lifespan of an automotive tire being 4-5 years and the high expense of new tire acquisition, independent aftermarket companies are now providing recycled tires at low prices.
This goal is being met with the aid of a tire shredder, which is an important piece of equipment in the recycling process. This will create new growth opportunities for use of tire shredders in upcoming years. However, with tire manufacturers focusing on producing durable tires with a long life-cycle, the rate of tire shredding may be offset, acting as a restriction for the global tire shredder industry.
Key Market Driver -
• Initiative Of Energy And Natural Conservation, Which Being Mandated At Several Regional Governments
Key Market Restraint -
• Manufactures Focusing On To Manufacturing Durable Tires Having Long Life-Cycle, May Offset The Rate Of Tire Shredding
The key manufacturers who are holding their position in global tire shredder market are Granutech-Saturn Systems, SSI Shredding System, Shred-Tech®, Northern California Compactors, Inc., ABB AB, CM Shredder, SMS Hydrotech, Tire Shredder Unlimited, Fabtex Engineering Works, Idea Holding Limited, Recycling Equipment, Inc., Spadone-Hypex, Inc., Weima America Inc., ACS Group, Lakin General Corp., CD Systems, Inc. and among others.
North America market is anticipated to witness major growth due to the rising awareness about environmental conservation. The rise in population in the region is expected to create more opportunities which could be help in the growth of regional market. Additionally, due to the country's growing need for light commercial vehicles (LCV) is leading to high demand of tire shredders in the United States. Furthermore, manufacturer’s focus on developing the range of product and rising the customer base along with increase in business development activities may boost the tire shredder market.
Europe region is showing a tremendous growth in the market, owing to the increase in the usage of technology. In terms of vehicle tire consumption, this region has crossed millions units and is likely to expand at a strong CAGR in the near future, making it a key platform for the tire shredder industry. The increasing adoption of tire shredders in Europe is also owing to required efforts done by developed and developing nations in the area, like R3 Model, REACH & Carbon Footprint Reduction Mission.
Asia Pacific region is projected witness huge growth in this market in forecast period owing rapid growth in industrialization. Furthermore, due to the existence of most aftersales tire producers, China and India are the most opportunistic nations in the tire shredder industry, and can be classified as rising markets in years to come. In the addition, Japan has also been a pioneer in tire recycling, with a large number of tire shredders built around the country. Manufacturers are also emphasizing more developing more environmental friendly shredders. Furthermore, the surging of recycling processes is expected to increase the use of tire shredders in near future.
Middle East & Africa region expected to depict a strong growth. As waste management & recycling process is also rising in the region, therefore tire shredders are expected witness boost in the market. In the addition, key players are focusing to set-up a unit in these countries, which will eventually lead to rapid growth in industrialization in this region.
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