Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Vehicle Recycling Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global vehicle recycling market is gearing up for a period of significant expansion, with a forecasted value of $155.9 billion by the year 2030. This robust growth reflects a compounded annual growth rate (CAGR) of 12.5% from 2024 to 2030. Factors such as increasing urbanization, rising consumer awareness of the benefits associated with vehicle recycling, and the subsequent investment in recycling infrastructure are key drivers fuelling market growth.
Segmental Insight and Competitive Analysis
The market is segmented based on material, vehicle type, and geographic region, each demonstrating distinct growth patterns. Steel, among the various recycling materials, is predicted to see the most accelerated growth attributed to its cost-effectiveness.
Moreover, within vehicle types, the segment for passenger car recycling is anticipated to outpace others. A slew of market players are implementing various strategies including but not limited to expanding manufacturing capabilities, investing in research & development and leveraging opportunities across the value chain. These tactics not only aim to cater to growing market demands but also to foster innovation in technologies and products, cut production costs, and broaden customer reach.
Asia Pacific: The Fastest Growing Region
Emerging as the frontrunner in terms of regional growth, Asia Pacific is anticipated to experience the highest surge during the forecast period. The region’s growth trajectory is supported by rapid economic acceleration coupled with a surge in consumer consciousness towards environmental sustainability.
Comprehensive Market Insights
The global vehicle recycling market report lends a comprehensive view of the market, offering estimates of market size in terms of value, analysis of current trends and future forecasts, and a breakdown of market segments. It entails a strategic analysis including mergers and acquisitions, new product developments, competitive landscape, and a detailed Porter’s Five Forces model analysis.
The report addresses critical questions about growth opportunities, market dynamics, competitive threats, evolving trends, customer demands, new market developments, and major industry players. Furthermore, the publication illuminates key segmental growth, regional advancements, as well as an extensive analysis of the competitive intensity in the industry.
- Vehicle Recycling Market Segments and Regional Prospects
- Strategies Employed by Major Market Players
- Emerging Market Trends and Growth Opportunities
- Impact of M&A on Industry Dynamics
Companies Profiled
- ASM Auto Recycling
- Copart
- Eco-bat Technologies
- INDRA
- Keiaisha
- Hensel Recycling
- LKQ
For more information about this report visit https://www.researchandmarkets.com/r/t7xiqm
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