LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global scrap metal shredder market provides an analysis on 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.
Gaurav Mohindru, a lead analyst from Technavio, specializing in research on the unit operations sector, says, “Industrial shredder machines play an integral role in the scrap processing industry. Therefore, the demand for these machines will be significantly impacted by the health and dynamics of the overall scrap recycling industry.”
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The top three emerging trends driving the global scrap metal shredder market according to Technavio heavy industry research analysts are:
Growing sales of EVs
Over the past few years, the interest in electric vehicles (EVs) has increased in the US automotive sector. This is because manufacturers are introducing new EVs with advanced technology. The country is proposing to be the global leader in next-generation vehicle technologies.
“With the support of financial incentives and R&D from the government, the country believes in reducing its dependence on petroleum products for transportation. Therefore, the future for EVs seems to be optimistic,” according to Gaurav.
Evolution of waste management techniques to suit low-grade ores
The spate of mining operations over the past decade has indicated that ore grades of most mineral commodities are declining. These low-grade ores have relatively low proportions of extractable minerals and metals to waste rock. This results in the requirement for high water and energy consumption.
Advances in technology and processes can mitigate the increase in water use and wastewater discharge. This is done by establishing advanced water recycling technologies. High potential to implement modern technologies is expected to gain popularity in the coming years.
Stringent nuclear reactor regulations post-Fukushima accident
Governments and utilities have always been vigilant regarding the safety of nuclear operations, owing to the sensitive nature of nuclear energy. However, the Fukushima incident in Japan was more of a natural calamity-related accident than a man-made one. The tsunami that ensued after the severe earthquake destabilized the core of the reactor, resulting in the leak of nuclear material into the atmosphere.
Governments worldwide reviewed their nuclear power generation-related regulations to ensure the safety of reactors. In some countries, such as Japan and Germany, the period of regular checks of reactors was decreased to take timely action. Countries came up with updated regulations to enforce better safety standards on reactors.
The key vendors are as follows:
- SSI Shredding Systems
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