USD 4.95 Billion
Tire Shredder Market Size, Share, Growth Analysis, By Product(hydraulic tire shredder and electrical tire shredder), By Operating device(Shredding of Rubber Tires, and Shredding of Radial Tires), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2064 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
60
|Figures:
75
Tire Shredder Market Insights
Global Tire Shredder Market size was valued at USD 4.95 Billion in 2022 and is poised to grow from USD 5.13 Billion in 2023 to USD 6.86 Billion by 2031, at a CAGR of 3.70% during the forecast period (2024-2031).
A tire shredder is a device that shreds used/shredded tires to achieve the desired result. The recycling process of repurposing tires into regular forms makes the recycling process easier. The huge quantity of tires produced makes them durable, but their environmental impact is also a problem. It makes them difficult to dispose of in a responsible way.
The tires' great durability and lack of biodegradability can mean that valuable landfill space is being wasted. Therefore, the increasing awareness of environmental conservation has made recycling a top priority. A significant waste source is worn-out tires.
Tire recycling is necessary to address this issue. A tire shredder is needed to do this operation. The tire shredder is an equipment that is used to break down tires into small pieces so that they can be recycled. It is used for extracting wire-free chips, steel, rubber, etc. from used tires. Recycled tires are used in various applications such as shoe manufacturing, civil engineering, noise barriers, landfill construction, bridge foundations, etc. in addition to the automotive industry.
US Tire Shredder Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
chippers
Fastest Growth
chippers
Growth Rate
3.70% CAGR
Tire shredder Market, 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Tire Shredder Market Segmental Analysis
Tire Shredder Market is segmented on the basis of product type, Operating drives, Application, and region. Whereas, by product type Tire Shredder Market is sub segmented into shredder, chippers, shear shredder, grinders, and granulators.By operating device Tire Shredder Market is sub segmented into the hydraulic tire shredder and electrical tire shredder. By application Tire Shredder Market is sub segmented into the Shredding of Rubber Tires, and Shredding of Radial Tires. The region is classified into North America, Europe, Asia Pacific, Latin America, and MEA.
Tire Shredder Market Analysis by product type
The Shredder and cheaper are estimated to witness a dominant share in the segment. Shredders use abrasion, often combined with compression to pulverize materials, usually to produce granular products. The various tools used in a manufacturing process can include wheels, drums, and plates. These machines can be used for a variety of purposes, depending on their speed.
Tire shredder Market By product, 2022 (%)
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Tire Shredder Market Regional Insights
North America is expected to experience significant growth in environmental awareness in the coming years. The increasing population in the region is likely to create more opportunities that could help grow the regional market. The increasing demand for light commercial vehicles in the United States is leading to high demand for tire shredders. Manufacturers are focused on developing the range of their product and increasing customer base, which will boost the tire shredder market.
The European region is seeing a large increase in the market share for technology because of the increase in its use. Vehicle tire consumption in this region has skyrocketed, and is projected to continue growing at a strong rate in the near future. This makes this area a key platform for the tire shredder industry. The increasing adoption of tire shredders in Europe is also due to the required efforts of developed and developing nations in the area, like R3 model, REACH, and carbon footprint reduction mission.
The Asia Pacific region is expected to experience rapid growth in this market in the forecast period because of the increasing industrialization. As a result of the presence of many aftersales tire producers, China and India are the most opportunistic nations in the tire shredder industry, and are likely to become increasingly important markets in the future. In addition, Japan has been a pioneer in tire recycling, with a large number of tire shredders built around the country. Manufacturers are increasing their focus on developing more environmentally friendly shredders. Although recycling processes are increasing, the use of tire shredders is expected to increase in the near future.
Tire shredder Market By Geography, 2022-2030
- Largest
- Fastest
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Tire Shredder Market Dynamics
Tire Shredder Market Drivers
Initiatives to Safeguard Natural Resources is Bolstering Demand for Tire Shredder
- The growing initiatives by various countries to conserve natural resources and energy will increase the growth of the tire shredder market. One of the main reasons for the increase in recycled tires demand is the availability of inexpensive recycled tires from third-party agencies. This has led to an increase in demand for recycled tires in general.
Tire Shredder Market Restraints
Tire Shredding Rate to Hinder Market Growth
- As tire manufacturers focus on making durable tires with long life, the tire shredding rate can be leveled, which acts as a constraint on the tire shredding industry.
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Tire Shredder Market Competitive Landscape
The tire shredder market is highly fragmented, with a large number of local and international players. These players are fiercely competing for the top spot. Mergers, acquisitions, partnerships, joint ventures, and collaborations help to strengthen the positions of the players in the tire shredder market, which in turn leads to greater opportunities for growth.
Tire Shredder Market Top players company profiles
- SMS Hydrotech
- CD Systems Inc.
- Weima America Inc.
- Tire Shredder Unlimited
- SSI Shredding System
- Shred-Tech
- Northern California Compactors, Inc.
- Idea Holding Limited
- Recycling Equipment, Inc.
- ACS Group
- Lakin General Corp.
- Molinari S.r.l.
- Yuxi Machinery
- Shred-Tech
- Vecoplan, LLC
- SSI Shredding Systems, Inc.
- Granutech-Saturn Systems
Tire Shredder Market Recent Developments
In Sep 2022, The rubberised surfacing was made from 1,647 recycled scrap tyres, according to a press release from TSBC. TSBC executive director Rosemary Sutton said the playground is wheelchair-friendly and accessible for all children throughout Abbotsford community.
Tire Shredder Key Market Trends
- The growing initiatives across different governments to conserve natural resources and energy may lead to enormous growth prospects for the tire shredder market. The U.S. Tire Manufacturers Association (USTMA) reports that by 2017, the end-use markets had taken up 81.4% of scrap tires, compared to just 11% in 1990. These statistics show the dramatic increase in tire shredding over the years.
Tire Shredder Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research and Analysis Wing) is our Business Information Services team that collects, collates, Co-relates and analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, The market for tyre shredders may experience rapid expansion due to the growing awareness of the value of tyre recycling. Environmental protection is becoming more of a priority for international governments. They are boosting the number of environmental conservation projects as a result. One of them is a campaign to recycle tyres. As a result, this factor could prove to be a key driver of market expansion for tyre shredders.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.95 Billion |
| Market size value in 2031 | USD 6.86 Billion |
| Growth Rate | 3.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Tire Shredder Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Tire Shredder Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Tire Shredder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tire Shredder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tire Shredder Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Tire Shredder Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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