Categories: Market Research

Metal Recycling Equipment Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Metal recycling is the process of removing waste metal, preparing it, and creating new metal material. This recycled metal can be utilised to make metal products, which can then be recycled once used or not needed. The metal recycling equipment are used to recycle metals.

Sizing and Forecast
The metal recycling equipment market size has grown strongly in recent years. It will grow 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.

The metal recycling equipment market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include advancements in sensor-based sorting technologies, mobile metal shredders and fragmentizers, non-ferrous metal recovery from electronic waste, hydraulic shears and balers for metal compaction, nnovations in metal melting and refining furnaces.

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Segmentation & Regional Insights
The metal recycling equipment market covered in this report is segmented –

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

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.

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Major Driver Impacting Market Growth
Increasing government regulations on waste management and recycling across the globe are driving the growth of the metal recycling equipment market. Metals such as aluminium 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. For example, in 2021, the government of India announced a Metal Recycling Authority to promote organised recycling of key non-ferrous metals such as aluminum, copper, zinc., and lead. The authority will oversee the formulation of quality standards, certification, and process standards for recycling. Thus, increasing government regulations on waste management and recycling are contributing to the growth of the market.

Key Industry Players
Major companies operating in the metal recycling equipment market include Hitachi Construction Machinery Co. Ltd., Metso Corporation, Nucor Corporation, CP Manufacturing Inc., JMC Recycling Systems Ltd., Green Machine Sales LLC, Zato srl, Commercial Metals Company, Aurubis AG, SMIS Metal Management Limited, European Metal Recycling Limited, ArcelorMittal S.A., American Baler Company, Marathon Equipment, General Kinematics India Pvt Ltd., Danieli Centro Recycling S.r.l., Steinert GmbH, Eriez Manufacturing Co., BHS-Sonthofen GmbH, Wendt Corporation, MTB Recycling, Eldan Recycling A/S, Andritz AG, Bano Recycling srl, Coparm Srl, Forrec Srl, Guidetti Recycling Systems, Hammel Recyclingtechnik GmbH, Komptech GmbH, Lindner-Recyclingtech GmbH, Redwave a division of BT-Wolfgang Binder GmbH, SGM Magnetics Corporation, Stokkermill S.r.l., TITECH GmbH, Vecoplan AG, ZB Group

The metal recycling equipment market report table of contents includes:

1. Executive Summary

2. Metal Recycling Equipment Market Characteristics

3. Metal Recycling Equipment Market Trends And Strategies

4. Metal Recycling Equipment Market – Macro Economic Scenario

5. Global Metal Recycling Equipment Market Size and Growth

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31. Global Metal Recycling Equipment Market Competitive Benchmarking

32. Global Metal Recycling Equipment Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Metal Recycling Equipment Market

34. Metal Recycling Equipment Market Future Outlook and Potential Analysis

35. Appendix