Europe Metal Recycling Equipment Market was valued at USD 0.50 million by 2023 and is expected to have a value of USD 0.64 million by 2029, growing at a CAGR of 4.29% during the forecast period of 2024-2029.
Market Overview:
The Europe Metal Recycling Equipment Market has been rising in demand due to the accumulation of metallic waste from many industries, as metals are valuable materials that are efficient and can easily recycle without disturbing their properties. Hence, this increasing demand for the metal recycling equipment market, along with continuous research and development, is a crucial trend for growth. Furthermore, there is a rising concern regarding the release of greenhouse gases into the atmosphere and the harm it causes to the environment, leading to more light on the recycling of metals for an eco-friendly solution leading to market growth. Therefore, it is anticipated to incline during 2022-2027.
The Europe Metal Recycling Equipment Market Drives its growth due to the rising construction, and the rapid development of the cities needing more equipment for industrialization is encouraging the recycling of metal for use in these building scenarios. Furthermore, an observed trend of Urbanization has impacted the metal recycling market due to a significant increase in building and construction activities observed throughout Europe. All these factors are driving the demand for the Europe Metal Recycling Equipment Market, encompassing recycle business by increasing the productivity of metal and capacity for recycling purposes. Furthermore, the increasing trend in government regulations on waste management and recycling to save natural resources and reduce greenhouse gases is driving the metal recycling equipment market.
The Europe Metal Recycling Equipment Market faces significant Challenges that arise due to the increased complexity in properties of the metal that make it difficult to recycle by the industries. Furthermore, during the recycling of the metal, specific concerns arise during the supply chain, which is challenging to manage due to the involvement of intermediaries who are pressured to cut down the cost of scrap metal, which poses a significant challenge for metal companies. Hence, the companies must face these challenges and rectify the difficulties imposed in the metal recycling equipment business.
The Europe Metal Recycling Equipment creates lucrative opportunities contributing to the ever-increasing population that has boosted the market. Furthermore, recycling the metals has also influenced the market due to the scarcity of rare earth metals has increased the demand for the Metal recycling equipment market. Opportunities are often rising in the metal recycling market, with the emergence of modern technology, which has augmented the demand for the Europe Metal Recycling Equipment Market during the forecast period of 2022-2027.
In March 2022, ArcelorMittal acquired metals recycling company John Lawrie Metals Ltd as a part of its drive to lower carbon emissions. The EU's initiatives to increase metal recycling rates and reduce carbon emissions facilitate the growing demand in Europe.
In May 2020, the German-based company Aurubis AG, known for copper smelting and refining facility operator, acquired Metallo Group. This German-based technological company maintains recycling materials with low metal content for USD 418 Million. The deal has strengthened Aurubis' metal portfolio, especially in metals such as zinc, lead, copper, nickel, and tin.
The Baler Press Segment has accounted to be the most dominant Machine Type in the Europe Metal Recycling Equipment Market. Therefore, Baler Press equipment can recycle materials such as aluminum, non-ferrous, cardboard, plastic, paper, etc., with pressing plates that can compress the material to a desirable size. The second leading segment in the metal recycling equipment market is Shredder. This segment has prompted demand due to technologically advanced and complex shredding implemented to recycle high volumes of material and heavy-duty machines. The Granulating Machines and Shears segments are anticipated to grow in the metal recycling equipment market during the forecast period of 2022-2027.
Based on Scrap Type, the Old Scrap segment has dominated the market for metal recycling equipment. This is because the Old Scrap Metals can easily be reconditioned, making it easier to restore its shelf life for many more years, which is growing in demand. On the other hand, the market for New Scrap Segment is anticipated to be stable from 2022 to 2027.
The Ferrous segment for the Europe Metal Recycling Equipment Market has dominated the Material type segment. This is because most Ferrous Materials consume far less energy to recycle than other materials, which results in reduced carbon emissions; far less energy usage has augmented the demand for Ferrous Metal Recycling Equipment Market. Therefore, metals, Non-Ferrous, and Alloys are anticipated to grow in demand for the Europe Metal Recycling Equipment Market during the forecast period of 2022-2027. Other materials are extensively being used by many industries that need to be recycled to adopt sustainable energy for an extended period.
Based on Segmentation by Application, the demand for Building and Construction has dominated the entire Europe Metal Recycling Equipment Market owing to the rapidly growing population, and Urbanization has increased the demand. The Automotive segment is the second leading market in Europe, and the rapid growth of automobile industries has surged the demand for the metal recycling market. As a result, the Segments of Ship Building and Equipment Manufacturing are anticipated to grow from 2022 to 2027.
Based on Segmentation by Country, the demand for Western European countries has boosted the growth of the Germany Metal Recycling Equipment Market. The increasing demand for metal recycling and the green economy has increased the need for metal recycling equipment. The UK and Italy are also dominating the market with the most significant market shares. Rapid industrialization and expanded recycling of metals have been a trend in the economy. Hence, this has increased the demand for the Europe Metal Recycling Equipment market. France's Metal Recycling Equipment Market is anticipated to grow along with Spain during the forecast period 2022-2027 as Europe has adapted to the usage of green energy to increase its economy and reduce the harmful effects of carbon emissions produced by many industries that have benefited from the solution of metal recycling equipment
Frequently Asked Questions
The growing CAGR of the Europe Metal Recycling Equipment Market is 4.29% during the forecast period of 2024-2029.
The Europe Metal Recycling Equipment Market is driving rapidly due to the increasing population, Urbanization, and industrialization.
Europe's Metal Recycling Equipment Market by Material Type are Metal, Ferrous, Non-Ferrous, Alloys, and Composites.
Germany and UK are the countries that dominate the Europe Metal Recycling Equipment Market.
The three leading players in the Europe Metal Recycling Equipment Market are Aurubis AG, ArcelorMittal, and Zato Srl.
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