The market for plastic shredders in Europe is projected to be worth US$ 724.9 million in 2023 and grow at a CAGR of 3.1% to US$ 987.6 million by the end of 2033. This increase is attributed to the expanding use of plastic for a variety of end uses, which increases waste production. Plastic recycling activities are increasing to protect the environment and human health from its harmful effects.
The European plastic shredder market is expected to rise significantly in the upcoming years. Factors such as increasing plastics production, changing trends towards sustainability, stringent government regulations regarding waste management, and rising demand from end-use industries are driving the growth of this market. Additionally, technological development in terms of design characteristics and materials used for manufacturing plastic shredders have led to their improved performance over time. The key industry players operating within Europe’s plastic shredder landscape include Komptech Group; Harden Machinery Ltd.; Zanker Recyclingtech GmbH; SSI Shredding Systems Inc., among others. Moreover, growing awareness about safety protocols while handling these machines is also likely to increase the adoption rate further.
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Key Takeaways from Market Study
- The Europe plastic shredder market is expected to grow significantly in the forecast period.
- The increasing demand for recycled plastic products is a major driver for the growth of the plastic shredder market in Europe.
- Germany is expected to hold the largest share of the Europe plastic shredder market due to the presence of major players in the country.
- The adoption of advanced technologies, such as automation and robotics, is expected to boost the efficiency of plastic shredding and increase the demand for these machines.
- The increasing focus on sustainable waste management practices and regulations by the European Union is expected to drive the growth of the plastic shredder market in Europe.
Key Stratagems by Market Players
Equipment performance in challenging environments is a goal for manufacturers. Players are focusing on improving their web presence and increasing their production capacity in order to reach a larger market. Manufacturers of plastic shredders are focusing on developing machines that increase economic benefits by boosting productivity and conserving energy. Market leaders are also focusing on growing their supply chains and establishing long-term contracts with vendors in non-legacy markets.
Key Companies Profiled
- Dragon Machinery Ltd,
- GENIUS MACHINERY CO., LTD
- Harden Machinery Ltd.
- Hosokawa Alpine AG
- Shanghai Joyal Machinery Co., Ltd.
- SHINI PLASTICS TECHNOLOGIES, INC.
- SSI Shredding Systems, Inc.
- Vecoplan LLC.
Regional Analysis For Marine Outboard Engine Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)