The global industrial shredder machine market is growing at a slow pace and is anticipated to grow at a CAGR of almost 1% by 2021, says Technavio.
Technavio has declared its latest market research study on the global industrial shredder machine market, under its unit operations portfolio. This market report enlists the key drivers and primary emerging trends and presents an analysis of key retailers like Metso, SSI Shredding Systems, UNTHA, and WEIMA.
According to Gaurav Mohindru, a lead analyst for unit operations research at Technavio, “The increasing demand for light vehicles across the globe and especially Japan and South Asia will drive the growth in the industrial shredder machine market. The introduction of innovative and technologically advanced automotive products will increase the demand for these shredders in the global market. Additionally, the growing focus on the increasing pollution level, from commercial vehicles, cars, and heavy transport vehicles will increase the adoption of these machines in various countries around the world.”
The government and regulatory bodies across the globe are instating policies that focus on scrapping age-old cars that are responsible for emitting pollutants from exhausts and introducing light vehicles. The implementation of these regulations will encourage vendors to build safer, cleaner, and more range of zero emission vehicles. The introduction of light weight SUVs and plug-in hybrid electric vehicle (PHEV) that are lightweight and compact will revolutionize the market.
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Growing sales of EVs
The vendors are launching new electric vehicles (EVs) with advanced technology to expand their business and consumer base. The US automotive industry is the global leader in next-generation vehicle technologies. The market is primarily driven by the supportive government subsidies and improvements made in battery technology. Government bodies across the globe provide incentives to support zero-emission cars such as EVs, PHEVs, and battery electric vehicles (BEVs). Such initiatives to curb carbon emissions will drive the growth in the shredding machine’s market.
Evolution of waste management techniques to suit low-grade ores
The extensive use of advanced technologies and processes to mitigate the increase in water use and wastewater discharge will drive the demand in the global market. The several technologies used in the market are energy-efficient technologies to lower the operating cost of treatment, membrane separation, sulfide treatment, and metal recovery. The increasing focus on waste management will increase the adoption of industrial shredders in the global market.
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This industry research report offers a detailed evaluation of market shares and sizes of the sub-sections and geography. A breakdown of the leading companies, including their business overview, market shares, key financials, etc. is provided in this report. This market study also furnishes a thorough analysis of main drivers, challenges, and opportunities influencing this market.
A comprehensive analysis is obtainable in the Technavio report titled, ‘Global Industrial Shredder Machine Market 2017-2021’. Technavio also customizes reports by additional regions and detailed segments upon request.
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