LONDON–(BUSINESS WIRE)–Dec 28, 2020–
The new industrial shredder machine market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Industrial Shredder Machine Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the rise in production of light vehicles,” says a senior analyst for industrials at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the industrial shredder machine market size to grow by USD 96.25 million during the period 2020-2024.
Industrial Shredder Machine Market Segment Highlights for 2020
- The industrial shredder machine market is expected to post a year-over-year growth rate of -13.67%.
- Based on the type, the metal scrap segment saw maximum growth in 2019. The rise in the production of light vehicles is driving the growth of the segment.
- The growth of the segment will be significant during the forecast period.
- 5% of the growth will originate from the MEA region.
- The growth of the automotive industry is one of the prime factors that increase market growth in MEA.
- Egypt and Saudi Arabia are the key markets for industrial shredder machines in MEA.
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- The industrial shredder machine market size is expected to accelerate at a CAGR of almost -2% during the forecast period.
- The industrial shredder machine market is segmented by the type (Metal scrap and Non-metallic scrap) and geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Advance Hydra-Tech Pvt. Ltd., Andritz AG, BCA Industries, Brentwood Industries Inc., Hammermills International LLC, MAX Automation SE, Metso Corp., SSI Shredding Systems Inc., UNTHA shredding technology GmbH, and WEIMA America Inc.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 12/28/2020 04:26 PM/DISC: 12/28/2020 04:26 PM
Copyright Business Wire 2020.