The global demand for Vehicle Recycling Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Vehicle recyclers have been focusing on the recyclability of vehicle parts especially for steel and iron parts. Vehicle recycling refers to the procedure of dismantle automobiles to recover and recycle spare parts, fuel and scrap metals. This comprises four steps included in the process which include disassembling, crushing, shredding and material recovery from which magnetic pieces, sheet metals, seats, wheels and other components are recuperated. Separation technologies, such as infrared, eddy current, laser, and flotation methods, are used to separate the non-ferrous metals from other materials, which are then sent for re-smelting.
Market Dynamics
The driving force behind the market growth is rapid industrialization and urbanization across the globe. In addition to this, rising adoption of metal scrap, especially steel for the manufacturing of light-weight and fuel-efficient vehicles is another factor that propels the market growth. Besides this, growing awareness of using recycled materials and concern towards environmental benefits by using minimize natural resources is also providing a positive outlook for market growth. Other factors consist of implementation of government rules on disposable of rubber, batteries are anticipated to fuel the market in the upcoming year.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of vehicle recycling.
Market Segmentation
The entire vehicle recycling market has been sub-categorized into type, material and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
- Passenger Cars Recycling
- Commercial Vehicles Recycling
By Material
- Iron
- Aluminium
- Steel
- Rubber
- Copper
- Glass
- Plastic
- Others
By Application
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for vehicle recycling market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Vehicle Recycling Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the vehicle recycling market include Scholz Recycling GMBH, Schnitzer Steel Industries, Inc., LKQ Corporation, Toyota Motor Corporation, Eco-Bat Technologies Ltd, Sims Metal Management Limited, European Metal Recycling (EMR), Hensel Recycling Group, Volkswagen AG, Tianqi Automation Engineering Co., Ltd. (Miracle Automation), Keiaisha Co., Ltd., and INDRA. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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