LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global industrial shredder machine market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global industrial shredder machine market for 2017-2021 provides a detailed industry analysis based on products (iron and steel and aluminum, copper, and non-ferrous metals) and geography (the Americas, EMEA, and APAC).
An industrial shredder is used to shred all kinds of materials such as tires, car wrecks, metals, plastics, wood, and garbage. The global industrial shredder machine market size is projected to reach USD 810.46 million by 2021, with more than 55% of this revenue originating from the Americas.
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The top three emerging trends driving the global industrial shredder machine market according to Technavio heavy industry research analysts are:
- Growing sales of electric vehicles
- Evolution of waste management techniques to suit low-grade ores
- Stringent nuclear reactor regulations post-Fukushima accident
Growing sales of electric vehicles
“The adoption of electric vehicles has increased due to advances in technology and government incentives on these vehicles. Western Europe is witnessing an explosive growth of the electric vehicle market, with manufacturers expanding their factory floors to meet the increasing demand,” says Gaurav Mohindru, a lead analyst at Technavio for unit operations research.
Many electric vehicle manufacturers are heavily investing in expanding and improving their manufacturing capabilities. Investments of this nature are expected to boost the demand for shredding machines, thereby driving market growth.
Evolution of waste management techniques to suit low-grade ores
The demand for industrial shredders is directly affected by the volume of waste that is generated at mining sites, which is, in turn, dependent on the grade of the ore being mined. With most mines close to depletion, the quality of the ores being mined have declined consistently, resulting in higher quantities of waste that need to be shredded. While companies are adopting advanced technologies to lower the operating cost of treatment, membrane separation, sulfide treatment, and metal recovery, the demand for industrial shredders is likely to increase.
Stringent nuclear reactor regulations post-Fukushima accident
The sensitive nature of nuclear energy has always resulted in governments being very vigilant regarding their safety. However, the Fukushima earthquake had unforeseen consequences despite ensuring that every precaution had been followed. Post this incident, governments around the world became even more cautious about the management of wastes generated by these nuclear power plants.
“Nuclear reactors around the world are being upgraded with the latest safety features to improve performance and reduce levels of harmful wastes. This is likely to have a positive impact on the industrial shredder market,” says Gaurav.
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