Metal Recycling Machinery Market to Reach USD 11.56 Billion by 2030 – The Rise in E-waste is Driving the Metal Recycling Machines Demand
Government spending on infrastructure and construction will hasten development after the epidemic. China region is anticipated to remain one of the most appealing markets during the forecast period, accounting for most of the market revenue. Henan Province Sanxing Machinery Co.,Ltd, San Lan Technologies Co.,Ltd & Oregon Environmental Systems (OES) are some top companies operating in this industry.
Newark, Dec. 18, 2022 (GLOBE NEWSWIRE) — The Metal recycling machinery market was estimated at around USD 7.25 billion in 2021, growing at a CAGR of nearly 5.3% during 2022-2030. The market is projected to reach approximately USD 11.56 billion by 2030.
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Metal Recycling Machinery Market: Overview
Recovering non-biodegradable trash or waste and turning it into useable products is the process of recycling. Separating solid waste from other scrap materials allows the leftover scrap to be used for recycling. Recycling equipment and technology aid in this process. Recycling enterprises can reuse resources like ferrous and non-ferrous metal, plastic, rubber, wood, glass, textiles, and many more materials thanks to modern machinery and equipment for recycling. Construction materials, electronics, and other scrap products are collected from scrap collecting organizations and further reduced in size and shape utilizing recycling machinery and equipment. Due to their excellent sustainability and recyclable qualities, metals are used in many different end-use industries, which increases the need for recyclable metal and, consequently, for metal recycling technology. Demand for recycled materials from various end-use industries is projected to increase, as are government waste management initiatives that are expanding, consumer awareness of recycling rubbish, and consumer awareness of recycling garbage.
Some of the factors that are anticipated to drive demand for this product over the forecast period include favorable government regulations, growing demand for recycled metals from various end-use sectors, including construction and automotive. The primary driver of the market expansion for recycling machinery is the strict laws and regulations that have been put in place by various governments in connection to carbon footprints and greenhouse gas emissions. Manufacturers desire to recycle and reuse current products as a result to adhere to government regulations, and many governments provide subsidies and other incentives to promote recycling.
The rapid growth of the shipbuilding sector, the production of industrial machinery, the automobile industry, and the production of tools and equipment are all contributing to the increased need for iron and steel. Infrastructure investment, particularly in developing nations, has increased the need for iron and steel in civil construction. As a result, sales of recycled scrap metal are increasing, and it is predicted that this trend will continue during the projected time. The fast growth of China’s construction and infrastructure industries in recent years has boosted the nation’s need for iron and steel while also driving up the cost of scrap metal. The production of iron and steel from scrap metal is preferred by major players because it produces less waste and emits fewer greenhouse gases. As a result, the overall cost of production is reduced, and firms are better able to meet their sustainability goals. Due to China’s massive increase in steel production over the previous ten years, there has been a sharp increase in the demand for recovered scrap metals. It is projected that an increase in iron and steel production will speed up the consumption of scrap metals in the future years.
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The market for metal recycling machinery market is segmented into the type. According to the type, the waste metal crusher segment is expected to increase at the quickest rate. Waste metal crushers are used to recycle steel slag, scrap metal, and other waste materials. To make it simple to separate and recycle the metals for use or sale, this gadget reduces the metals into manageable bits. This process increases its value by eliminating recyclables, which encourages environmental preservation. Most of the crushed components are ironic metals, such as cast iron, mild steel, etc.
The scrap recycling machine, a recycling device used to recycle the waste of metal scraps, has sizable market shares. By crushing scraps of any size, content, and form into tiny fragments, which are subsequently separated according to their unique characteristics using magnetic or eddy current separators, it recycles scraps of any size, composition, and shape. Both forms of separation may occasionally be used sequentially on the same material stream. Electronic circuit boards can be mined for gold, silver, and platinum metals using scrap recycling machines. These devices use eddy currents in a rotating disc or drum to sort metal and metal types according to their unique magnetic characteristics.
In the market for metal recycling machines, Asia-Pacific represented the largest market share of the whole market. The Asia-Pacific region uses the most resources globally in terms of domestic metal consumption and metal footprint. The area’s expansion in this sector has been greatly supported by an increase in mergers, acquisitions, integration activities, and site relocations.
It is anticipated that Europe will hold the second-largest market share. The EU government’s strict laws and regulations to reduce greenhouse gas and carbon emissions have propelled the market in this region.
|Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
|North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
|Metal recycling machinery Market CAGR
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List of the prominent players in the Global Metal recycling machinery market:
• Henan Province Sanxing Machinery Co.,Ltd
• San Lan Technologies Co.,Ltd
• Oregon Environmental Systems (OES)
• Zhengzhou Zhengyang Machinery Co., Ltd
• Jiangxi Mingxin Metallurgy Equipment Co., Ltd
• Pronamic ApS
• Yung Hsing Machine Industry Co., Ltd
• Seltek Srl
• Whltiston Metal Recycling Machines
• swissRTec AG
The global Metal recycling machinery market is segmented as follows:
• Scrap Recycling Machine
• Waste Metal Crusher
• Electrostatic Separator
• PCB Waste Recycling Machine
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The global Metal recycling machinery market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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