Dublin, May 31, 2024 (GLOBE NEWSWIRE) -- The "Global Vehicle Recycling Market Report by Type, Material, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global vehicle recycling market size reached US$ 82.5 Billion in 2023 and is projected to reach US$ 243.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.77% during 2023-2032.
The rapid industrialization and urbanization across the globe are among the key factors driving the growth of the market. Additionally, widespread adoption of metal scrap, especially steel, for the manufacturing of more affordable, lightweight and fuel-efficient vehicles, is acting as another growth-inducing factor.
Furthermore, increasing consumer awareness regarding the environmental benefits of using recycled materials and minimizing the dependency on natural resources is also providing a boost to the market growth. Automotive recyclers are utilizing sophisticated tools and methods to recycle used vehicles to extract polymers, fluids and natural materials that cause minimal damage to the environment.
They are also using various innovative products, such as optical sensors, to identify small pieces of metal in the scrap. Other factors, including the increasing utilization of recycled batteries in the manufacturing of consumer electronics and the implementation of government regulations to minimize environmental hazards associated with the disposal of batteries, rubber, oils and other materials, are expected to drive the market in the upcoming years.
This report provides a deep insight into the global vehicle recycling market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global vehicle recycling market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, material and application.
Breakup by Type:
- Passenger Cars Recycling
- Commercial Vehicles Recycling
Breakup by Material:
- Iron
- Aluminium
- Steel
- Rubber
- Copper
- Glass
- Plastic
- Others
Breakup by Application:
- OEMs
- Aftermarket
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being ASM Auto Recycling, Copart, Eco-bat Technologies, INDRA, Keiaisha, Hensel Recycling Group, LKQ Corporation, Schnitzer Steel Industries, Scholz Recycling, Sims Metal Management Limited, etc.
Key Questions Answered in This Report
- What was the size of the global vehicle recycling market in 2023?
- What is the expected growth rate of the global vehicle recycling market during 2024-2032?
- What are the key factors driving the global vehicle recycling market?
- What has been the impact of COVID-19 on the global vehicle recycling market?
- What is the breakup of the global vehicle recycling market based on the type?
- What is the breakup of the global vehicle recycling market based on the material?
- What is the breakup of the global vehicle recycling market based on application?
- What are the key regions in the global vehicle recycling market?
- Who are the key players/companies in the global vehicle recycling market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $82.5 Billion |
| Forecasted Market Value (USD) by 2032 | $243.3 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vehicle Recycling Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Passenger Cars Recycling
6.2 Commercial Vehicles Recycling
7 Market Breakup by Material
7.1 Iron
7.2 Aluminium
7.3 Steel
7.4 Rubber
7.5 Copper
7.6 Glass
7.7 Plastic
7.8 Others
8 Market Breakup by Application
8.1 OEMs
8.2 Aftermarket
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Competitive Landscape
- ASM Auto Recycling
- Copart
- Eco-bat Technologies
- INDRA
- Keiaisha
- Hensel Recycling Group
- LKQ
- Schnitzer Steel Industries
- Scholz Recycling
- Sims Metal Management
For more information about this report visit https://www.researchandmarkets.com/r/gr4g4v
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