April 06, 2021 04:00 ET | Source: Global Market Insights, Inc Global Market Insights, Inc
Selbyville, Delaware, April 06, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the slow speed shredding machines market which estimates the market valuation for slow speed shredding machines will cross US$ 280 million by 2027. Increasing regulations pertaining to waste management and recycling thereby proliferating slow speed shredding machines market size in the coming years.
Slow-speed shredders are the shredding equipment working on high torque and slow-speed principal, which enhances the throughput along with reducing the noise levels as well as power consumption. They are used to shred various waste materials including metals, plastics, wood, mattresses, tires, etc.
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The other product type comprises of quad-shaft as well as tri-shaft slow speed shredders and will grow at over 5% CAGR through 2027. These slow speed shredders have high-torque shearing technology and has the ability to efficiently process tough materials. Some of these products can also be used for simple heavy-duty construction applications. This product type offers shock protection; energy efficient operation; bulk feed capability; low noise; uniform particle size low dust & heat generation; reduced maintenance costs; and minimum footprint and foundation requirements.
Consumer waste or municipal solid waste is poised to dominate the slow speed shredding machines market through 2027. With regulations imposed to uplift the recycling rate in the major countries coupled with rising demand for recycled products as well as energy sources, recycling rate of municipal waste across the globe has surged in the last few years and will continue to boost the product application in near future.
Asia Pacific slow speed shredding machines market size is projected to observe around 6.5% CAGR during 2021 to 2027 driven by increasing formulation of the waste management policies by the government of major Asian countries coupled with focused initiatives to promote waste recycling. In 2019, China announced a new regulation regarding automotive scrapping in order to eliminate illegal dismantling and recycling activities as well as to promote an open-scrap market. In 2018, Chinese government formulated a new policy aiming to ban the import of 32 different types of solid wastes which also includes plastic waste. Such trends will propel slow speed shredding machines market growth size.
Some major findings of the slow speed shredding machines market report include:
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Partial chapters of report table of contents (TOC):
2.1 Slow speed shredding machines industry 360° synopsis, 2017-2027
Chapter 3 Slow Speed Shredding Machines Industry Insights
3.2.1.1 COVID-19 based supply chain disruption analysis
3.3 Pricing analysis (with impact of COVID-19)
3.9.1.1 Increasing regulations pertaining to waste management and recycling
3.9.1.2 Proliferating demand of recycled products
3.9.2.1 Higher cost associated with the product components
About Global Market Insights Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.