NEWARK, Del, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Future Market Insights predicts that the metal recycling equipment market will generate US$ 7.26 billion by 2023. Among the estimates, the market will reach US$ 18 billion by 2033, representing a 9.5% CAGR.
With its ability to recycle discarded metals into valuable raw materials, the metals recycling industry contributes to the conservation of resources and the sustainability of the environment. Changing technologies are reshaping operations and optimizing processes to bring the industry closer to developing an entirely circular economy.
Technology is changing the industry by making it easier to forecast markets, increasing traceability, and repurposing materials innovatively through artificial intelligence (AI), smart equipment, and advanced robotics. Through these emerging technologies, metal recycling will undergo a new era of circularity and responsible resource management.
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Recycling has made significant strides with this innovation. In the long run, businesses and the environment will benefit from new opportunities technology presents. Recycling equipment can be adopted by industries seeking to reduce waste and minimize their environmental footprint in response to stringent environmental regulations and sustainability goals. Several economic factors may influence metal recycling equipment demand, including supply, metal prices, demand dynamics, and global market trends.
Key Takeaways from the Market Study:
- The market for metal recycling equipment is slated to a growth rate of 5.2% between 2022 and 2032.
- The market for metal recycling equipment is anticipated to reach US$ 11.5 billion by 2032.
- As developed markets, North America and Europe are expected to see moderate growth in the metal recycling equipment market during the forecast period.
- Equipment for recycling ferrous metal is expected to be in greater demand.
- Among end-users, the automotive industry will likely grow in demand for metal recycling equipment.
“New technologies and innovations are likely to drive the demand for metal recycling equipment in the future. Growing environmental awareness and demand for sustainable and recyclable business initiatives will expand the market.” says an FMI analyst.- opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
As manufacturers strive to enhance their market share and boost their revenue generation capabilities in the global market for metal recycling equipment, they are highly focused on emerging economies.
- In April 2023, REDWAVE will introduce a machine explicitly designed for small materials, ranging from four to 25 millimeters in size. REDWAVE XRF fine machines feature a reduced spacing between valves and sensor components and a strategic arrangement of sensors. As a result, precious metals are recovered with a higher purity and more significant recovery. With the new enhancements, users can produce a final furnace-ready product while remaining flexible to react quickly to market trends and continuous product development.
- In April 2023, German brand Lindemann Metal Recycling Solutions will relaunch its website with 360-degree animation clips to coincide with its 110th anniversary. Recycling equipment manufacturer modernized its website to make it more responsive, interactive, and visually appealing with fixed navigation.
Top Key Players in the Metal Recycling Equipment Industry:
- 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
Know More about What the Metal Recycling Equipment Market Report Covers:
Future Market Insights offers an unbiased analysis of the global metal recycling equipment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the metal recycling equipment market, the market is segmented based on metal type, machine type, and end-use industry type across six major regions.
About Industrial Automation at Future Market Insights
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
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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
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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