The global metal recycling equipment market size is expected to grow from $5.83 billion in 2021 to $6.18 billion in 2022 at a compound annual growth rate (CAGR) of 6.08%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global metal recycling market size is expected to reach $7.99 billion in 2026 at a CAGR of 6.62%.
What is the Global Metal Recycling Equipment Market?
The metal recycling equipment market consists of sales of metal recycling equipment by entities (organizations, sole traders, and partnerships) used to recycle metals. Metal recycling is the process of removing waste metal, preparing it, and creating new metal material. This recycled metal can be utilised to make metal products, which can then be recycled once used or not needed.
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What drives the Global Metal Recycling Equipment Market?
Increasing government regulations on waste management and recycling across the globe are driving the growth of the metal recycling equipment market. Metals such as aluminium and copper can be recycled to save a lot of energy and natural resources. It also helps to reduce greenhouse gases such as carbon dioxide, carbon monoxide, and nitrous oxide. Environmental protection agencies (EPA) are working with environmental officials and governments around the world on waste management and recycling. For example, in 2021, the government of India announced a Metal Recycling Authority to promote organised recycling of key non-ferrous metals such as aluminum, copper, zinc, and lead. The authority will oversee the formulation of quality standards, certification, and process standards for recycling. Thus, increasing government regulations on waste management and recycling are contributing to the growth of the market.
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Global Metal Recycling Equipment Market Segments
The global metal recycling equipment market is segmented:
By Machine Type: Shredders, Briquetting Machines, Shears, Granulating Machines
By Material Type: Metal, Ferrous, Non-Ferrous, Alloys and Composites
By Application: Automotive, Building and Construction, Ship Building, Equipment Manufacturing, Packaging, Consumer Appliances
By Geography: The regions covered in the metal recycling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Metal Recycling Equipment Global Market Report 2022provides market size and growth forecasts for the global metal recycling equipment market, global metal recycling equipment market share, metal recycling equipment market segments and geographies, metal recycling equipment market competitive landscape including leading competitors’ revenues, profiles and market shares. The metal recycling equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Metal Recycling Equipment Industry Playersinclude Hitachi Construction Machinery Co., Ltd., Metso Corporation, Nucor Corporation, CP Manufacturing Inc., JMC Recycling Systems Ltd, Green Machine Sales LLC, Zato srl, Commercial Metals Company, Aurubis AG, SMIS Metal Management Limited, European Metal Recycling Limited, ArcelorMittal S.A., American Baler Company, Marathon Equipment, and General Kinematics India Pvt Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
