- An industrial shredder is a mechanical device used to separate or reduce the size of various materials such as rubber, metals, and paper. Industrial shredders are available in various sizes and designs and are used to convert materials into different dimensions. Cutting tools used for manufacturing industrial shredders are vertical shaft, horizontal shaft, one shaft, two shaft, three shaft, four shaft, and others. Major use of industrial shredders is restructuring the material by shredding tires, plastics, car wrecks, metals, and waste material such as nuclear waste, and municipal solid waste. One of the benefits of using an industrial shredder is shredding of solid waste material that helps in reducing the volume of waste. Industrial shredders are generally heavy and a high volume system used to process materials such as metal, plastic, e-waste, wood, and paper. The market for industrial shredders is expected to witness surge during the forecast period.
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Key Drivers and Opportunities of the Global Industrial Shredder Market
- The industrial shredder market is expected to grow at a decent rate in the coming years. Factors which drive the global industrial shredder market are growing sales of electric vehicles and rise in production of light vehicles. Sales of electric vehicles is growing because manufacturers have started to introduce new electric vehicles with advanced technology and also due to government incentives on these vehicles. Electric vehicle manufacturers are heavily investing in expanding and improving their manufacturing capabilities. Demand for shredding machines is expected to increase due to this investment, thereby driving the market growth.
- Furthermore, the light vehicle market holds great growth potential in terms of market penetration all over the world. Increase in adoption of light vehicles would lead to significant growth in usage of shredder machines. Also, pollution levels are increasing due to use of commercial vehicles, heavy transport vehicles, and cars in countries across the globe. This has compelled governments in major countries in Europe and North America where pollution levels are high, to implement policies and regulations such as scrapping old cars, which would help in the growth of the industrial shredder market.
- The major restraining factor to the growth of the industrial shredder market is lack of capital for expansion to meet the growing demand. This factor is expected to hinder the growth of the market in the long run as well.
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North America and Europe to Hold Major Share of the Global Industrial Shredder Market
- In terms of region, the industrial shredder market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America and Europe are expected to hold major share of the industrial shredder market during the forecast period. Government regulations related to pollution have led to the scrapping of old cars which is expected to provide a huge market for industrial shredders in these regions during the forecast period.
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Key Players Operating in the Global Industrial Shredder Market
- Forrec SRL Recycling Systems
- Genox Recycling Tech Co., Ltd.
- Global Development and Global CG Group
- Harden Machinery Ltd.
- Jordan Reduction Solutions
- Lindner-Recyclingtech Gmbh
- SSI Shredding Systems, Inc.
- UNTHA shredding technology GmbH
- Vecoplan AG
- WEIMA Group GmbH & Co. KG