New York, NY, July 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Paper Shredder Market By Bin Capacity (Above 135 Liters, 71 To 135 Liters, 21-70 Liters, And Up To 20 Liters), By Type (Micro Cut, Strip Cut, And Cross Cut), By Application (Residential And Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Paper Shredder Market size & share in terms of revenue was valued at USD 2298 million in 2022 and it is expected to surpass around USD 4123 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.58% during the forecast period 2023 to 2030.”
What is Paper Shredder? How big is the Paper Shredder Industry?
Paper Shredder Report Coverage & Overview:
Shredders are mechanical devices that are used to shred bits of paper into thin particles or strips. Shredders can be found in offices, schools, and homes. They are utilized in a variety of settings, including private companies, government departments, and other locations, with the purpose of obliterating all trace of private or classified documents. These gadgets can be found in a wide variety of shapes or sizes, ranging from simple and inexpensive machines to more complex and pricey shredders. With the passage of time, the industry that manufactures paper shredders and distributes them has seen tremendous changes, including the inclusion of new functions as well as the removal of superfluous features that were not beneficial or the modification of those features to make them less redundant. Since people have begun to place a greater emphasis on protecting their own privacy, there has been a rise in the number of businesses that use paper shredders. The growth trajectory of the market for paper shredders is impacted by a number of obstacles and restrictions, but there are also a number of elements that are responsible for the industry's higher growth rate.
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Global Paper Shredder Market: Growth Dynamics
Shredders are mechanical devices that are used to shred bits of paper into thin particles or strips. Shredders can be found in offices, schools, and homes. They are utilized in a variety of settings, including private companies, government departments, and other locations, with the purpose of obliterating all trace of private or classified documents. These gadgets can be found in a wide variety of shapes or sizes, ranging from simple and inexpensive machines to more complex and pricey shredders. With the passage of time, the industry that manufactures paper shredders and distributes them has seen tremendous changes, including the inclusion of new functions as well as the removal of superfluous features that were not beneficial or the modification of those features to make them less redundant. Since people have begun to place a greater emphasis on protecting their own privacy, there has been a rise in the number of businesses that use paper shredders. The growth trajectory of the market for paper shredders is impacted by a number of obstacles and restrictions, but there are also a number of elements that are responsible for the industry's higher growth rate.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 2298 million |
| Projected Market Size in 2030 | USD 4123 million |
| CAGR Growth Rate | 7.58% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Staples, Fellowes, AmazonBasics, Royal, HSM, Swingline, Rexel, Bonsaii, Aurora, Acco Brands, ShredCare, Sentinel, Dahle, Swordfish, GoECOlife, Powershred, Kobra, Ideal, Destroyit, GBC and others. |
| Key Segment | By Bin Capacity, By Type, By Application, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Paper Shredder Market: Segmentation Analysis
The global paper shredder market is segmented based on bin capacity, type, application, and region.
Based on bin capacity, Above 135 liters, between 71 and 135 liters, 21-70 liters, and up to 20 liters are the categories that make up the global market. In 2022, the segment that ranged from 21 to 70 liters had the highest CAGR that was recorded. This is mostly the result of the widespread use of these paper shredder types in terms of the capacity of their bins. As a result of their capacity to handle moderate to substantial amounts of shredded paper, they are most commonly encountered in a variety of commercial settings. In addition, facilities that work frequently with offline data and which may necessitate the shredding of bigger amounts of secret information may utilize shredders with capacities ranging from 71 to 135 liters. At this time, shredders with a security rating of P-7 are the safest device for shredding particles with a cross-sectional area of 5 mm2 and a width of 1 mm.
Based on type, Micro cut, strip cut, and cross cut are the three subcategories that make up the paper shredder industry. Because of the superior qualities of the machine, such as its speed and performance, the micro cut sector was able to command close to 45.1% of the market share in 2022. In comparison to the several other varieties, they have a lower overall cost and exceptional durability. It is possible that factors such as the simplicity of installation and maintenance will promote segmental expansion over the course of the projected timeframe.
Based on application, The primary market niches are the residential and commercial markets. The latter is the sector that contributes the most to the paper shredder business. This is due to the extensive usage of complicated and modern paper shredders in commercial spaces such as workplaces, government units, defense offices, and medical facilities. These sections store data that is particularly sensitive, and any breach of security involving the information controlled by them could have severe effects. There was a significant breach in the region's national security plans as a result of the publication on social media in April 2023 of more than one hundred documents that contained sensitive information concerning secrets related to American national security.
The global Paper Shredder market is segmented as follows:
By Bin Capacity
- Above 135 Liters
- 71 to 135 Liters
- 21-70 Liters
- Up to 20 Liters
By Type
- Micro Cut
- Strip Cut
- Cross Cut
By Application
- Residential
- Commercial
Browse the full “Paper Shredder Market By Bin Capacity (Above 135 Liters, 71 To 135 Liters, 21-70 Liters, And Up To 20 Liters), By Type (Micro Cut, Strip Cut, And Cross Cut), By Application (Residential And Commercial), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/paper-shredder-market
Competitive Landscape
Some of the main competitors dominating the global Paper Shredder market include -
- Staples
- Fellowes
- AmazonBasics
- Royal
- HSM
- Swingline
- Rexel
- Bonsaii
- Aurora
- Acco Brands
- ShredCare
- Sentinel
- Dahle
- Swordfish
- GoECOlife
- Powershred
- Kobra
- Ideal
- Destroyit
- GBC
- Others
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the global paper shredder market is estimated to grow annually at a CAGR of around 7.58% over the forecast period (2023-2030)
- In terms of revenue, the global paper shredder market size was valued at around USD 2298 million in 2022 and is predicted to grow to around USD 4123 million, by 2030.
- The paper shredder market is projected to grow at a significant rate due to the growing demand for sustainable packaging
- Based on bin capacity segmentation, 21-70 liters was predicted to show maximum market share in the year 2022
- Based on application segmentation, commercial was the leading application in 2022
- On the basis of region, North America was the leading revenue generator in 2022
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Key questions answered in this report:
- What is the market size and growth rate forecast for Paper Shredder industry?
- What are the main driving factors propelling the Paper Shredder Market forward?
- What are the leading companies in the Paper Shredder Industry?
- What segments does the Paper Shredder Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Bin Capacity, By Type, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The North American region will maintain its preeminence over a sizable portion of the market.
Due to the increasing demand for paper shredders in commercial and residential settings across North America, this region is expected to lead the global market for paper shredders over the course of the projected period. Countries like the United States and Canada are home to a number of different commercial divisions, each of which devotes significant resources to the administration of data privacy. Through their investments in research and development, regional manufacturers have been a significant contributor to the growth of the market demand for innovative paper shredders. Additionally, the increased supply of these devices coming from the United States to other regions could potentially boost income in other regions. In addition, the recent occurrence of many data leaks in the United States, which were impacted by shifting geopolitical conditions, has forced the teams responsible for national defense to modernize the systems and measures that contribute to protecting regional data security.
Due to the increasing adoption of these devices in China, Japan, India, and other nations that are documenting a growing emergence of commercial establishments, Asia-Pacific is projected to register the quickest CAGR. This is because of the expanding number of commercial establishments in these countries. The increased interest of domestic players in manufacturing machines of superior quality could work in favor of the growth of the Asia-Pacific region.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Paper Shredder Market: Opportunities
Increasing innovation in order to propel the trajectory of market expansion
Paper shredders have evolved tremendously over the course of time, with the introduction of a variety of brand-new and ground-breaking capabilities. This involves keeping security levels up to date in accordance with the requirements of the client. The most recent paper shredders provide seven different layers of security. For example, a higher level results in smaller pieces of shredded paper, which eliminates any possibility of data being stolen. In addition, the performance of the device has been improved by other aspects, such as the rate at which it shreds and the approval it has received from regulatory bodies, such as the Central Security Service (CSS) of the National Security Agency (NSA). In addition, manufacturers are working on the elimination or significant reduction of cool-down time. This will contribute to the improvement of product efficiency, particularly in commercial centers. High-Security Multimedia Shredder (FD 8732HS) was introduced on the market by Formax, a dominant force in the industry, in the month of July 2021. High levels of protection, as well as the destruction of optical media, are provided by the mobile university. In addition to that, it has the EvenFlowTM Automatic Internal Oiling System installed in it.
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