According to a recent analysis by FMI, the global metal recycling equipment market is on a trajectory towards significant expansion, targeting a valuation surpassing USD 18 billion by the year 2033. This projection marks a substantial increase from its recorded value of USD 7.26 billion in 2023 and signals a notable surge in sales compared to the USD 6.9 billion registered in 2022. The driving force behind this anticipated growth is an impressive Compound Annual Growth Rate (CAGR) of 9.5% projected over the forecast period spanning from 2023 to 2033.
Crucial industries such as automotive, electronics, construction, and manufacturing heavily rely on metals for operational efficiency. With sustainability becoming increasingly imperative across these sectors, there is a growing demand for metal recycling equipment. These technologies play a pivotal role in facilitating the global transition towards a circular economy model, emphasizing the repurposing and recycling of products rather than their disposal.
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Key Takeaways from Metal Recycling Equipment Market:
- The Asia-Pacific holds the largest market share. It, in fact, contributes for more than 40% of the overall revenue. This could be credited to a noteworthy increase in acquisitions, mergers, site relocations, and integration activities all across. The government of China altered the import limitations regarding copper and aluminum in January 2021, which is expected to bolster the metal recycling equipment market.
- MEA alone is expected to witness a CAGR of 5% in the metal recycling equipment market. This could be reasoned with growing investments in textile equipment, aircraft production, and fabrication of metallic items.
- North America and Europe are witnessing steadiness in the metal recycling equipment market and expected to continue to be the same even going forward.
“The fact that metals have pretty good recyclability and sustainability is likely to take the metal recycling equipment to a new ‘high’ in the near future”, says an analyst from Future Market Insights.
Competitive Analysis:
- Metso Outotec, in October 2021, did launch an index online tool with the objective of gathering, combining, and analyzing data, and ultimately evaluating metal recycling equipment.
- LEFORT, around the same time, did announce sales of KOLOSS 200T. It is expected to be on floor by the end of 2022.
- ArcelorMittal, in November 2019, made an investment in novel sustainability program in Europe with the objective of securing ‘Responsible Steel’ site certification for every site of ArcelorMittal Europe – Flat Products.
- Aurubis AG, in May 2019, completed acquisition of Belgian-Spanish Metallo Group for continuing with multi-metal recycling strategy. The multi-metal portfolio constitutes key metals such as lead, zinc, tin, nickel, and copper.
- Nucor Corporation, in May 2019, did announce capital investment to enable production of engineered bar products to cater to quality specifications in industry. The operations began in late 2020.
Key Players:
- Nucor Corporation
- CMG SpA
- JMC Recycling Systems Ltd.
- Commercial Metals Company
- SMIS Metal Management Limited
- Hitachi Construction Machinery Co., Ltd.
- Metso Corporation
- CP Manufacturing Inc.
- Green Machine Sales LLC
- Others
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Key Segments Profiled in the Metal Recycling Equipment Market Survey:
By Metal Type:
- Ferrous
- Non-Ferrous
By Machine Type:
- Shredders
- Briquetting Machines
- Shears
- Granulating Machines
- Others
By End Use:
- Automotive
- Building & Construction
- Ship Building
- Equipment Manufacturing
- Packaging
- Consumer Appliances
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Read More: https://www.futuremarketinsights.com/reports/metal-recycling-equipment-market
