Global chip crusher market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a significant CAGR during the forecast period.
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Chip crushers are machines which are basically designed to crush long sized chips, with the purpose to reduce their size or volume to ensure the lifetime and the performances of the chip disposal system to get the material ready for the briquetting or centrifuging process.
A surge in the adoption of chip crusher machines for chip handling problems in scrap yards and in steelworks, in the automotive industry and in mechanical workshops is the major driving factor behind the growth of the market. Increasing development and advancements in chip crushers to reduce machines size and to save space required for placing, rising government initiatives regarding waste management, growing concerns related with environment, increasing focus on waste recycling process and growing market for steel industry in developing economies are expected to improve the growth of the market during the forecast period. The chip crushers provide some benefits such as compact and robust design, easy maintenance, low noise level and high reliability, which are making them more demandable in several industrial applications.
Nevertheless, high initial cost of chip crushers is the major restraining factor that could hamper the growth of the market.
Global Chip Crusher Market: Segmentation Analysis
By product type, vertical axis chip crushers segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of X% during the forecast period. Rising production of vertical axis chip crusher by leading market players such as Cometel and PRAB and increasing adoption of vertical axis chip crushers to crush large quantity of chips is attributed to the growth of the market. In addition, rising demand for vertical axis chip crushers over horizontal axis chip crusher owing to its benefits such as higher volume reduction from 50 to 80%, fully automatic and smooth operation and lower maintenance are ultimately propelling the growth of the market.
By application, metal and steel segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. A growing demand of chip crushers in metal processing and steel production industries is driving the growth of the market. An increasing production of cost effective and safe industrial metal shredders to process various types of metal scrap and other steel turnings is escalating the growth of the market.
Global Chip Crusher Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Countries such as China, Japan, India, Taiwan, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing market for steel industry across the region. In 2019, China is followed by India and Japan and are world’s top three steel producing countries, thus rising adoption of chip crushers in steel industry is driving the growth of the market in the region.
Increasing exports of steel from China and Japan, rising government initiatives for industrial waste management solutions and rising market for coal production industry are further impelling the growth of the market in the APAC region.
Global Chip Crusher Market: Key Development
In Jan 2018, Cometel and U.S. Shredder and Castings Group have announced a strategic partnership to introduce Cometel’s chip recycling and turnings to the North American market.
The objective of the report is to present a comprehensive analysis of the Global Chip Crusher Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Chip Crusher Market dynamics, structure by analyzing the market segments and projects the Global Chip Crusher Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Chip Crusher Market make the report investor’s guide.
The Scope of Global Chip Crusher Market
Global Chip Crusher Market, By Type
• Single Roll Machine Tool Shredder
• Rolling Ring Type Crusher
Global Chip Crusher Market, By Product Type
• Vertical Axis Chip Crushers
• Horizontal Axis Chip Crushers
Global Chip Crusher Market, By Application
Global Chip Crusher Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Chip Crusher Market, Key Players
• Endo Kogyo
• Shredding Technology
• The Shredder Company
• Mayfran International
• Liqui Filter GmbH
• MGS Technologies
• Nederman Holding AB
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