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

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

Status : January, 2023 | Industrial

Report Digest

 Tire Shredder Market: Introduction

Due to growing regulations regarding environmental protection, tire recycling has become significant. Tire is a major source of waste due to which tire recycling is required to tackle this waste. A tire shredder is required to carry out this operation. Tire shredder is an equipment which is used to shred tires into granular forms to enable the recycling process. It is used to for extracting wire-free chips, steel, rubber, etc. from used tires. Recycled tires are used in various applications apart from automotive industry such as shoe manufacturing, civil engineering, sound walls, landfill construction, bridge foundations, and so on.

Tire Shredder Market: Dynamics

The growing initiatives by various countries regarding natural and energy conservation will boost the growth of tire shredder market. Another major driver is the opportunity for the independent aftermarket agencies to offer recycled tires at a nominal rates of the vehicles which in turn have boosted the demand. Manufacturing tires with high durability and longer life is expected to lower the tire demand and thus restrain the market growth.

The major opportunity for tire shredder companies is that the manufacturers can themselves procure used tires and recycle it thus reducing the consumption of rubber of raw materials and saving overhead manufacturing costs. Applications such as sound walls, landfill construction, and bridge foundations also provides significant growth opportunities for the tire shredder market.

Tire recycling is one of the major developments in the automotive industry that is being carried out by individual tire manufacturers and aftermarket suppliers. The increasing popularity of recycled tires in order to minimize the use of scarce natural resources and to reduce CO2 emissions has led to find creative ways to overcome this challenge. Recycling of scrap tires has turned out as a perfect solution for reducing environmental emissions as well as strengthening the economic condition of the country. Recycled scrap tires are also used for road construction using rubberized asphalt.

Tire Shredder Market: COVID-19 Impact

The Covid-19 pandemic has shaken down the worldwide economy manufacturing sector of both emerging an advanced economies alike. Due to the lockdown guidelines by many countries these has been significant decrease in traffic volume. These is a decrease in the demand of tires and tire products. The fall in wholesale market is largely attributed to the decline in customers buying from local tire stores. This has also has its toll on the tire recycling business.  However, the decline in demand for tire and tire products is temporary and full fledge recovery is anticipated to be seen by mid-2022 as the governments across the world will enforce strong policies to minimize the impact of the pandemic on the economy.

Tire Shredder Market: Segmentation

The global Tire Shredder market can be segmented on the basis of product type, operating drive and end-use industry.

On the basis of product type, the global Tire Shredder market is segmented as:

  • Shear Shredder
  • Chippers
  • Grinders
  • Granulators
  • Specialty Shredder

On the basis of operating drive, the global Tire Shredder market is segmented as:

  • Electrical Tire Shredder
  • Hydraulic Tire Shredder

On the basis of end-use industry, the global Tire Shredder market is segmented as:

  • Automotive
  • Civil Engineering
  • Others

Tire Shredder Market: Regional Outlook

South Asia & Pacific, East Asia and Europe is expected to bring significant growth for the tire shredder market. Tis is due to the rising consumption of tires across densely populated countries like China, India and ASEAN countries. Europe is also expected to create significant demand of tire shredder due to various initiatives regarding carbon emission reductions such as REACH and R3 model. The consumption of tires is also increasing in regions with high population. All these factors are anticipated to accelerate tire shredder market growth in these regions. North America is also expected to create significant demand for tire shredder due to increasing demand for low commercial vehicles (LCV) from the region.

Tire Shredder Market: Key Participants

Some of the market participants in the global Tire Shredder market, identified across the value chain include:

  • SMS Hydrotech
  • Fabtex Engineering Works
  • Granutech-Saturn Systems
  • Spadone-Hypex Inc.
  • CD Systems Inc.
  • Weima America Inc.
  • Tire Shredder Unlimited
  • SSI Shredding System
  • Shred-Tech
  • Northern California Compactors, Inc.
  • Idea Holding Limited
  • Recycling Equipment, Inc.
  • ACS Group
  • Lakin General Corp.
  • Molinari S.r.l.
  • Yuxi Machinery
  • Shred-Tech
  • Vecoplan, LLC
  • SSI Shredding Systems, Inc.
  • Granutech-Saturn Systems

The research report on the Tire Shredder market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Tire Shredder market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as product type, operating drive and end-use industry.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?