Slow Speed Shredding Machines Market Report
Slow Speed Shredding Machines Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028.
Slow Speed Shredding Machines Market is expected to grow from USD 182.76 million in 2021 to USD 275.07 million by 2028 at a CAGR of 5.75% during the forecast period of 2022-2028.
Slow-speed shredding machines are employed for cutting materials or destroying the toughest debris in all types of environments. These machines operate at a slow speed and a high torque principle, which reduces noise, and power consumption with enhanced output.
Rising strict regulations related to waste management and recycling around the world are likely to be the main factors accelerating the market growth during the forecast period.
Based on the type, the market is segmented as single shaft and twin shaft. Twin shaft is also recognized as duel shaft and represents more than 55% of the global market. It is a machine used for reducing the size of heavy and giant machines. It is available in many sizes and designs. It is commonly used for metals, car wrecks, shredding tires, wood, electronic wastes, and household garbage. Depending on the design and size of the shredder, the twin shaft shredder can shred plastic as well as wood and metal including an entire car. Increasing waste management and waste recycling activities across the globe will bolster the demand for twin shaft shredders over the forecast period.
Based on the application type, the market is segmented as consumer waste/MSW and industrial waste. Consumer waste accounted for 70% of the market volume share in 2020. This segment represents waste which includes metals; plastics; woods, paper & paperboards; rubber, leather, textiles; e-waste; etc. With the governments of both, developed and developing economies, focused on efficient waste management and recycling to derive reusable resources, the MSW application segment will continue to observe significant growth during the forecast period.
In terms of regions, Europe led the market in 2020. Increasing regulations and revised target aimed towards reducing waste and propelling the waste recycling and reusability activities in Europe will compel the regional product consumption over the forecast period as well. North America and Asia-Pacific are also estimated to offer substantial growth opportunities during the forecast period.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Report – Features
No. of Figures & Tables
The slow speed shredding machines market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
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The slow speed shredding machines market is expected to witness an impressive growth of 5.75% CAGR during 2022-2028.
Bandit Industries, Inc. EDGE Innovate. (NI) LTD, GENOX RECYCLING TECH CO., LTD., Granutech-Saturn Systems, Komptech Group, LINDNER-RECYCLINGTECH GMBH, SSI Shredding Systems, Inc., Terex Corporation, Williams Patent Crusher and Pulverizer Co., Inc., ZERMA Machinery & Recycling Technology are the key players in the slow speed shredding machines market.
The slow speed shredding machines market size is expected to reach USD 275.07 million in 2028.
Europe led the slow speed shredding machines market in 2020.
Twin shaft represent the major share of more than 55% of the global market.
Rising strict regulations related to waste management and recycling around the world are the factors driving the growth of slow speed shredding machines market.