Global Tire Shredder Market

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 2025-2032


Report ID: SQMIG20I2064 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 60 | Figures: 75

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.

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FAQs

Tire Shredder Market size was valued at USD 5.13 Billion in 2023 and is poised to grow from USD 5.32 Billion in 2024 to USD 7.11 Billion by 2032, growing at a CAGR of 3.70% during the forecast period (2025-2032).

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. 'SMS Hydrotech', 'Fabtex Engineering Works', 'Granutech-Saturn Systems', 'Spadone-Hypex Inc.', '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'

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.

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.

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.

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Global Tire Shredder Market

Report ID: SQMIG20I2064

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