The global Metal Recycling Equipment Market is estimated to total USD 7.26 billion in 2023. The sales of metal recycling equipment are expected to reach USD 18 billion by the end of 2033, in comparison to the USD 6.9 billion registered in 2022.
Driven by the growing concerns regarding metal waste management and using recycled products, the demand for metal recycling equipment is projected to rise at a CAGR of 9.5% during the forecast period 2023 to 2033.
A growing number of industries that use metals heavily can increase demand for metal recycling equipment, such as automotive, electronics, construction, and manufacturing. Recyclables equipment can be in high demand as the circular economy shifts to repurposing and recycling products rather than discarding them.
Investing in recycling facilities and infrastructure has the potential to increase demand for the equipment that can be used to manage and process metal scrap. Increasing recycling efficiency, improving recovery rates, and improving equipment designs can influence market demand through innovative recycling technology.
| Attribute | Details |
|---|---|
| Metal Recycling Equipment Market Value (2022) | USD 6.9 billion |
| Metal Recycling Equipment Market Estimated Value (2023) | USD 7.26 billion |
| Metal Recycling Equipment Market Anticipated Value (2033) | USD 18 billion |
| Metal Recycling Equipment Market Projected Growth Rate (2023 to 2033) | 9.5% CAGR |
Metal recycling equipment is industrial machinery such as shredders, briquette machines, granulating machines, baler presses, extruders, and others that are used for recycling metal waste applications including collection & sorting, grinding, processing, melting, and purification.
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With ongoing technological advancements, metal recycling equipment can become more efficient, automated, and high-capacity. The demand for metals may increase as new ways to sort, process, and separate them are developed.
In many regions across the globe, circular economy principles are becoming prevalent. These principles focus on reducing waste and maximizing value by extracting the maximum value from existing resources.
E-waste and discarded products are used for urban mining, which involves extracting valuable metals from them. With the introduction of circular economy principles, many industries are striving to reduce waste and reuse materials as much as possible in order to reduce the amount of waste.
In the coming decades, the amount of metal scrap generated by industries, construction, and consumer goods may increase as economies grow and urbanization continues, which will increase demand for metal recycling equipment.
Depending on the global metal price, recycling or raw materials production may be more economical. Recycling becomes more appealing when metal prices are high.
Future Market Insights projects that the metal recycling equipment market is likely to remain steady, exhibiting growth at 9.5% CAGR between 2023 to 2033.
Metal recycling equipment is garnering huge traction, due to the increasing problems associated with the proper disposal of metal waste that is being generated worldwide.
Metal is one of the most crucial elements used in the manufacturing of a wide range of products, including mechanical equipment, automotive components & parts, electronic appliances, beverage containers, construction materials, furniture others.
Thus, the recycling of existing metals is beneficial for catering to the surging demand for metal products globally. In addition to this, rising strict government regulations on recycling for efficient utilization of natural resources and waste management are anticipated to create high revenue generation opportunities in the global market.
The extravagant cost of metal recycling equipment such as extruders, briquetting machines, granulating machines, and others is hindering the adoption of this machinery across small and medium-sized enterprises, thereby, hampering the market growth.
In addition to this, excessive wear and tear of parts such as worn rings, ram, die, barring, split die, and others along with high consumption of electricity and fuels are impeding the sales of metal recycling equipment in the market.
Asia Pacific excluding Japan is anticipated to emerge as the most lucrative market for metal recycling equipment during the forecast period 2023 to 2033, reveals FMI.
As the trend of urbanization and industrialization continues to create deeper inroads across the Asia Pacific, a substantial rise in building and construction activities is being witnessed in countries such as China, India, South Korea, Australia, and others.
This, in addition to increasing production and sales of automotive vehicles, is creating a huge demand for metal and metal products. Hence, numerous metal manufacturing and recycling companies are focusing on expanding their metal processing and recycling capacity to cater to this growing demand. This is projected to bolster the sales of metal recycling equipment in the Asia Pacific excluding Japan.
As per Future Market Insights, Western Europe is estimated to account for a significant share of the global metal recycling equipment market between 2023 and 2033.
Due to the increasing demand for metal, expanding metallurgy industry, and growing recycling activities in Europe, a swift rise in the adoption of metal recycling equipment is being witnessed across the United Kingdom, Germany, Italy, and others.
Hence, leading players are aiming at launching novel products to capitalize on existing opportunities. For instance, in 2021, CMG SpA, an Italian manufacturer of metal machinery announced the introduction of a new range of low-speed screen-less metal granulators with zero metal contamination and innovative rotor design.
A multiplicity of such new product launches is projected to favor the growth in the Western Europe market.
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Increased Metal Prices and Focus on Sustainability is Expected to Grow Demand for Shredders in the Market
Using recycled ferrous metals, such as iron and steel, reduces waste and conserves resources while lowering CO2 concentrations during production. Several countries have set recycling targets, requiring efficient ferrous metal recycling equipment.
Changing raw material prices, like iron ore or scrap metal, can affect recycling equipment demand. Recycling becomes attractive when raw materials are expensive or supply chains are disrupted, which boosts recycling equipment demand.
Industry-specific economic factors have a significant impact on recycling. Economic growth leads to an increase in construction activities, which leads to an increase in the demand for ferrous metal recycling equipment.
A decline in manufacturing activity and a drop in scrap metal prices, on the other hand, might influence the demand for metal recycling equipment demand in coming years.
A Growing Sales Volume of Automotive and Increased Demand for Model Upgrades will Drive Demand for Metal Recycling Equipment Market
Efforts to achieve sustainability in the automotive industry rely heavily on metal recycling.
Due to the increasing emphasis on circular economy principles and the demand for environmentally friendly practices, the automotive industry has realized the importance of efficient metal recycling. Scrap metal and reclaimed metal recycling equipment help recover and repurpose metal from end-of-life vehicles (ELVs).
Increasing environmental regulations, resource scarcity concerns and economic benefits of recycling metals have driven the demand for metal recycling equipment in the automotive industry. With the heightened focus on reducing carbon footprints and conserving resources, the market has grown rapidly.
As OEMs, suppliers, and distributors of automotive products have become increasingly aware of the circular economy, they have begun designing products in a manner that allows them to be disassembled and recycled more easily.
The growth in recycling equipment for complex automotive components has further bolstered the demand for advanced recycling equipment.
Some of the leading players in the metal recycling equipment market are Nucor Corporation, CMG SpA, JMC Recycling Systems Ltd., Commercial Metals Company, SMIS Metal Management Limited, Hitachi Construction Machinery Co., Ltd., Metso Corporation, CP Manufacturing Inc., Green Machine Sales LLC, and others.
The market is highly competitive attributed to the presence of such a large number of participants and increasing adoption of product launch and collaboration, partnership, and acquisition strategies.
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 7.26 billion |
| Market Forecast Value in 2033 | USD 18 billion |
| Global Growth Rate | 9.5% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | MT for Volume and USD million for Value |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Czech, Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Kay Segments Covered | Metal Type, Machine Type, End Users, Region |
| Key Companies Profiles | Nucor Corporation; CMG SpA; JMC Recycling Systems Ltd.; Commercial Metals Company; SMIS Metal Management Limited; Hitachi Construction Machinery Co., Ltd.; Metso Corporation; CP Manufacturing Inc.; Green Machine Sales LLC; Others |
| Customization & Pricing | Available Upon Request |
The market is estimated to secure a valuation of USD 7.26 billion in 2023.
The global market size is expected to reach USD 18 billion by 2033.
The growth potential of the metal recycling equipment market is 9.5% through 2033.
Key players are capturing more market by launching and collaborating with other players.
The automotive sector is deploying high quantities of metal recycling equipment.
| Estimated Market Value (2023) | USD 4,622.0 million |
|---|---|
| Projected Market Revenue (2033) | USD 8,242.7 million |
| Value-based Market CAGR (2023 to 2033) | 6.0% |
| Market Estimated Value (2023) | USD 4.16 Billion |
|---|---|
| Market Anticipated Value (2033) | USD 8.9 Billion |
| Market Projected Growth Rate (2023 to 2033) | 7.9% CAGR |
| Market Share (2023) | USD 111,077.4 million |
|---|---|
| Market Share (2033) | USD 206,557.9 million |
| Market Share (2023 to 2033) | 6.4% |
| Market Size (2023) | USD 224.1 billion |
|---|---|
| Market Share (2033) | USD 325.4 billion |
| Market CAGR (2023 to 2033) | 3.8% |
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