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Tire Shredder Market

Tire Shredder Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2030

Tire Shredder Market: Outlook

Tire recycling has become the foremost need due to the growing concerns regarding environmental conservation. Worn-out tires are one of the most problematic waste sources. To tackle this waste, tire recycling is necessary. To carry out this process, a tire shredder is necessary.

A tire shredder is used for shredding the tires into granular forms to facilitate the recycling process. Thus, the global tire shredder market may gain considerable growth across the forecast period of 2020-2030 on the back of the growing need for tire recycling.

Based on product type, the tire shredder market can be classified into specialty shredder, chippers, shear shredder, grinders, and granulators. On the basis of operating drive, the tire shredder market is segmented into hydraulic tire shredder and electrical tire shredder.

The tire shredder market report provides a thorough study to the stakeholder on diverse growth parameters such as competitive landscape, regional landscape, and emerging trends. The researchers have closely studied and assessed the COVID-19 effect on the tire shredder market and the findings have been included in the report. Furthermore, the report also highlights the growth obstacles so that the stakeholder can plan the business strategy accordingly.

Tire Shredder Market: Competitive Scenario

The tire shredder market can be considered as highly fragmented due to the presence of a plethora of local and international players. These players indulge in stiff competition for clinching the top position. In addition, mergers, acquisitions, partnerships, joint ventures, and collaborations assist in strengthening the foothold of the players in the tire shredder market, eventually inviting growth prospects.

Research and development activities also play an important role in the discovery of untapped opportunities. Some well-entrenched players in the tire shredder market are SMS Hydrotech, Fabtex Engineering Works, Northern California Compactors Inc., Granutech-Saturn Systems, Spadone-Hypex Inc., CD Systems Inc., Weima America Inc., and Tire Shredder Unlimited.

Tire Shredder Market: Key Trends

The growing initiatives regarding natural and energy conservation across governments of various countries may bring immense growth prospects for the tire shredder market. The escalating implementation of tire shredding may bring extensive growth prospects for the tire shredder market. According to the U.S. Tire Manufacturers Association (USTMA), by 2017, the end-use markets consumed 81.4 percent of scrap tires in comparison to just 11 percent in 1990. These statistics highlight the extensive growth of tire shredding over the years.

The products created from recycled tires have a variety of uses among a plethora of applications such as shoe manufacturing, civil engineering, and others. Shredded tires are also used in sound walls, landfill construction, and bridge foundations. These aspects may bring tremendous growth opportunities for the tire shredder market.

With numerous growth opportunities in sight, some factors may prove to be growth dampeners for the tire shredder market. Tire manufacturers, nowadays are manufacturing tires equipped with great durability and longer life. This aspect will lead to low demand for tire shredding, eventually restraining the growth opportunities across the tire shredder market.

Tire Shredder Market: Geographical Insights

The tire shredder market can be geographically segmented into North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Asia Pacific and Europe may bring substantial growth for the tire shredder market during the assessment period of 2020-2030. The increasing consumption of tires across densely populated countries like India and China may serve as prominent growth generators in Asia Pacific.

Europe may garner substantial traction due to various initiatives regarding carbon emission reductions. The consumption of tires is also increasing largely across various parts of the region. All these aspects may prove as growth accelerators for the tire shredder market in Europe.

Tire Shredder Market

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