In a pivotal milestone, the global metal recycling equipment market is poised for a transformative trajectory, with a projected valuation of US$ 7.26 billion in 2023. What sets this path apart is the extraordinary forecast, anticipating a substantial surge in metal recycling equipment sales to an impressive US$ 18 billion by the culmination of 2033, compared to the recorded US$ 6.9 billion in 2022. This noteworthy growth is driven by a compelling Compound Annual Growth Rate (CAGR) of 9.5% foreseen over the forecast period spanning from 2023 to 2033.
Industries pivotal to global economic functioning, such as automotive, electronics, construction, and manufacturing, deeply embed their reliance on metals for operational efficiency. As the resounding call for sustainability echoes across these sectors, the demand for metal recycling equipment is set to reach unprecedented heights. Recycling equipment emerges as an indispensable asset in the global shift towards a circular economy model, prioritizing the repurposing and recycling of products over 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
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Author:
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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