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

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.