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Metal Recycling Equipment Global market Outlook 2024-2033: Trends and Projections
Metal Recycling Equipment Market Outlook 2024-2033: Trends and Projections
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LONDON, GREATER LONDON, UNITED KINGDOM, September 13, 2024 /EINPresswire / -- The metal recycling equipment market has experienced robust growth in recent years, expanding from $6.73 billion in 2023 to $7.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased global demand for recycled metals, growth in environmental concerns and sustainability initiatives, escalate costs of primary metal production, need for resource conservation and energy savings, expansion of industrial manufacturing and construction activities.
Strong Future Growth Anticipated
The metal recycling equipment market is projected to continue its strong growth, reaching $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to adoption of advanced sorting and separation technologies in recycling, integration of artificial intelligence (AI) for efficient metal recovery, expansion of urban mining and e-waste recycling efforts, emphasis on scrap metal collection and recovery infrastructure, focus on circular economy and closed-loop recycling systems.
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Growth Driver Of The Metal Recycling Equipment Market
Increasing government regulations on waste management and recycling across the globe are driving the growth of the metal recycling equipment market. Metals such as aluminum and copper can be recycled to save a lot of energy and natural resources. It also helps to reduce greenhouse gases such as carbon dioxide, carbon monoxide, and nitrous oxide. Environmental protection agencies (EPA) are working with environmental officials and governments around the world on waste management and recycling.
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Major Players And Market Trends
Key players in the metal recycling equipment market include Hitachi Construction Machinery Co. Ltd., Metso Corporation, Nucor Corporation, CP Manufacturing Inc., JMC Recycling Systems Ltd.
Major companies operating in the metal recycling equipment market are launching new platforms such as the AMCS platform to meet the metal recycling market demands. It is comprehensive Cloud-Based Solution for metal recycling operations.
Segments:
1) By Machine Type: Shredders, Briquetting Machines, Shears, Granulating Machines
2) By Material Type: Metal, Ferrous, Non-Ferrous, Alloys And Composites
3) By Application: Automotive, Building And Construction, Ship Building, Equipment Manufacturing, Packaging, Consumer Appliances
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the metal recycling equipment market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the metal recycling equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Metal Recycling Equipment Market Definition
Metal recycling is the process of removing waste metal, preparing it, and creating new metal material. This recycled metal can be utilized to make metal products, which can then be recycled once used or not needed. The metal recycling equipment are used to recycle metals.
Metal Recycling Equipment Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Metal Recycling Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on metal recycling equipment market size, metal recycling equipment market drivers and trends , metal recycling equipment market major players, metal recycling equipment competitors' revenues, metal recycling equipment market positioning, and metal recycling equipment market growth across geographies. The metal recycling equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.