According to a new market research report published by Credence Research “Industrial Shredders Market (by Number of Shaft: Single Shaft, Two Shaft, Three Shaft and Four Shaft; by Application: Municipal Solid Waste Recycling (MSW), Waste Electronic and Electronic Equipment Recycling (WEEE), Wood Waste Recycling, Paper Reject Recycling, Others (Plastic, Metal, Rubber, etc.)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the Industrial Shredder market was valued at USS 629 million in 2019 and expected to grow at a CAGR of 5.67% during the forecast period from 2020 to 2027 to reach USD 946 million in 2027.
A modern shredder is a state-of-the-art machine applied for cutting back of a broad spectrum of material. Mechanical shredders are accessible various distinctive plan varieties, and numerous sizes to be utilized in host of uses across huge number of verticals. Vertical hammermills, level hammermills, slow speed shear type shredders are overwhelmingly utilized in right now. They are available in different configurations such as single shaft, double shaft, triple shaft and quad shaft. Single shaft processors of single or double shaft plan, granulators, blade pigs, raspers, mawlers, thrashes, refining plants and crackermills. A portion of the significant part of modern shredder incorporate rotor, counter edges, lodging, engine, transmission framework, power framework and electrical control framework.
Mechanical shredders are chiefly sent in tires, metals, auto wrecks, wood, plastics, cowhides, papers and trash industry. Utilization of mechanical shredders isn’t restricted to any one industry or material as they can paper just as wood, plastic, metal including an entire vehicle relying upon the size and plan of the modern shredder. The mechanical shredder is generally used to deal with materials into various sizes for detachment or to diminish the reusing cost of transport however an essential use is the overhauling of the material by destroying metals, plastics, aluminum, metal and vehicles and just as waste materials, for example, metropolitan strong waste or atomic waste, clinical waste, unsafe waste including normal trash.
Key Trends in Global Industrial Shredder Market
Protecting environment by efficient utilization of resources also reducing the overall production cost
Large consumption of paper is increasing the degradation of the forest, and other natural resource which in turn has increased the need to use sustainable products. This has introduced new techniques for efficiently utilizing the raw materials and also helps in protecting the environment form being over degraded. Papers shredding technique destroys confidential documents and converts it into raw material for paper products. This reduces the adverse impact on the environment by reducing the destruction of forest, helping the environment economically, reducing the water consumption, and also reducing landfill. These all factors are contributing as key drivers for paper shredding service market.
Paper shredding service has pick up the market pace as it has reduced the cost of raw material to industries for paper-based products to a large extent. This has also promoted the use of paper-based products. The cost of fresh raw material for paper is very high because of degrading of forest by over growing population. Paper shredding service has made it very easy for industries to get raw materials at a lower cost.
The complete report is available at https://www.credenceresearch.com/report/industrial-shredders-market
Impact of COVID 19 on Global Industrial Shredder Market
COVID 19 has left an unparalleled impact on growth of global Industrial Shredder industry. The global Industrial Shredder has witnessed very severe setback like never before. The demand for Industrial Shredder is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Industrial Shredder.
Global Industrial Shredder Market by Type Insights
Based on its type, the global Industrial Shredder market can be segmented into Single Shaft Industrial Shredder, Double Shaft Industrial Shredder, Three Shaft Industrial Shredder and Four Shaft Industrial Shredder. By type, single shaft industrial shredder dominated the global market with over 48% share in 2019. It is also expected to keep its dominance over the forecast period and expected to exhibit the fastest growth rate among all segments.
Global Industrial Shredder Market by Application Insights
Based on its applications, the global Industrial Shredder market can be segmented into Waste Electronic and Electronic Equipment Recycling (WEEE), Municipal Solid Waste Recycling (MSW), Paper Reject Recycling, Wood Waste Recycling, RDF Recycling and Others (Plastic Metal). By application, paper reject recycling segment was largest segment in 2019 with over one third share in total revenue generated by this industry. Municipal solid waste was the second leading segment with around 25% share in 2019. MSW segment is strongly driven by rising urbanization and rapidly increasing municipal solid waste around the world. WEEE is another important segment expected to increase ate rapid pace during the forecast period. Boom in electronics industry and increasing e-waste all over the world is fueling the demand for industrial shredders in WEEE industry.
Global Industrial Shredder Market by Regional Insights
At present, North America dominate the global industrial shredders market followed by Europe. In 2019, North America and Europe collectively accounted for over two third share of global industrial shredder market. Highest rate of urbanization in these regions resulted into growing demand for industrial shredders to be used in Municipal Solid Waste Recycling (MSW) applications. Secondly, high penetration of smart phones, laptops, PC’s and other electronic equipment’s in the region resulted into increasing e-waste volume in the region. This is driving demand for industrial shredder in the region. However, Asia Pacific is expected to exhibit strong growth during the forecast period and likely to overtake Europe to become second leading regional market for industrial shredders.
Global Industrial Shredder Market Competitive Landscape
Global Industrial Shredder market is fragmented and characterized by the presence of large number of players such as VECOPLAN, China Shredder, Linder-Recyclingtech, SSI Shredding Systems, Jordan Reduction Solutions, Franklin Miller, Genox, Untha, ECO Green Equipment, LLC., Granutech-Saturn Systems, ZERMA and Others. All the major players are focusing on development of innovative products. The global Industrial Shredders market is highly fragmented and with the presence of large number of players around the world.
Global Industrial Shredder Market by Type, 2015 – 2027
· Single Shaft Industrial Shredder
· Double Shaft Industrial Shredder
· Three Shaft Industrial Shredder
· Four Shaft Industrial Shredder
Global Industrial Shredder Market by Application, 2015 – 2027
· MSW (Municipal Solid Waste)
· Paper Reject Recycling
· Wood Waste Recycling
· RDF Recycling
· Others (Plastic Metal)
Global Industrial Shredder Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Industrial Shredder Market: Key Players
· China Shredder
· SSI Shredding Systems
· Jordan Reduction Solutions WAGNER
· Franklin Miller
· ECO Green Equipment, LLC.
· Granutech-Saturn Systems
The Global Industrial Shredders Market is Segmented into:
|Segmentation||By Number of Shaft (2016–2027; US$ Mn)|
|By Application (2016–2027; US$ Mn)|
|Geography Segment (2016–2027; US$ Mn)|
*Complete segmentation list is on report page