SAN FRANCISCO, Jan. 12, 2022
SAN FRANCISCO, Jan. 12, 2022 /PRNewswire/ -- The global metal recycling equipment market size is expected to reach USD 9.93 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. Rising demand for recycled metals from various end-use industries, coupled with the increasing generation of metallic waste globally, is expected to drive the demand for metal recycling equipment.
Key Insights & Findings from the report:
Read 137 page market research report, "Metal Recycling Equipment Market Size, Share & Trends Analysis Report By Equipment (Baler Press, Shredders, Granulators, Shears, Separators), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The demand for recycled metals is increasing rapidly from the construction, automotive, electronics, and food and beverage industries owing to the product's environmental friendliness and the ability to help reduce emissions, energy consumption, and the cost of the production, thereby augmenting the demand for metal recycling equipment in the coming years.
Growing concerns related to the depletion of non-renewable resources, coupled with the high manufacturing cost of primary metals, have augmented the demand for metal recycling in various end-use industries. Furthermore, in various developing countries, the government is focusing on improving recycling infrastructure, thereby augmenting the equipment demand.
The emergence of modern technologies has proved to be effective in terms of identifying different kinds of metals, especially ferrous. Increasing demand for scrap has compelled scrap yards to install technologically advanced and sophisticated recycling equipment, thereby fueling the market growth.
Grand View Research has segmented the global metal recycling equipment market on the basis of equipment and region:
List of Key Players of Metal Recycling Equipment Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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