Chip crushers are developed for the crushing of long chips in order to minimize their volume and to prepare the material for the process of centrifugation or briquetting. Also it can be used to reduce the size or alter the shape of waste metal or steel chips so that they can be more conveniently recycled or disposed.
The primary driving factor behind the growth of the chip crusher market is an increase in the adoption of chip crusher equipment for chip handling problems in steelworks and scrap yards, in mechanical workshops in and the automotive industry. Likewise, other driving factors such as increasing investment in the research and development activities in the field of chip crusher machines, by various market players to develop chip crushing machines with small size to save large placing space, growing government initiatives and investment concerning waste management, escalating environment related concerns, and rapid growth in the steel and metal industry across the globe are expected to propel growth of market during forecast period. However, high cost associated with the chip crushing machines is major restraining factor that could hinder the growth of market.
The study analyses Global Chip Crusher Market based on type, product type, application and geography.
Based on type, rolling ring type crusher segment is likely to grow at high growth rate during estimated time. The rolling ring type crusher is a high speed impact crusher. It is an exceptional equipment for medium and fine crushing of metal and steel chips. This type of crushing metals provides benefits such as high strength and durability, cost-effectiveness, and versatility.
Based on product type, market for vertical axis chip crusher segment is projected to witness fast growth over the forecast period. The growth of the market is owing to increased development of vertical axis chip crushers by key manufacturers such as PRAB and Cometel and growing adoption rate of vertical axis chip crushers to crush large quantities of chips. Likewise, the vertical and axis chip crushers provides several benefits such as high volume reduction from 50 to 80 percent, low maintenance smooth and fully automated operation, which are ultimately making more demand for this product type in the global market.
Based on application, steel and metal segment are witnessing fastest growth from the past few years. Growth of this market is driven by an increasing demand for chip crushers in the steel production and metal processing industries. In addition, growing production of crude steel for various industrial applications and increased production of reliable and cost-effective industrial metal shredders to process different forms of metal scrap and other steel turnings are further likely to expand growth of market by the end of estimated timeframe.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific held the largest market share of global chip crusher market and is likely to dominate the market over the estimated time frame. The factors such as growing metal and steel industry across the countries such as China, India, and Japan, surge in the adoption of chip crushing metals in steel industry, rising import and export activities in the field of steel, and escalating significance of chip crushers in coal production industry are accredited to the growth of chip crusher market across the APAC region.
The key competitors of this market include Endo Kogyo, ARS, Shredding Technology, ERDWICH, Lanner, The Shredder Company, Mayfran International, UNTHA, Lubriserv, PRAB, Nederman, Liqui Filter GmbH, MGS Technologies, Nederman Holding AB, ATM-Recyclingsystems, and Cometel among others.
The study analyses global chip crusher market based on type, product type, application, and geography. Chip crusher market by type is segmented into single roll machine tool shredder and rolling ring type crusher. By product type, the market is segmented into vertical axis chip crushers and horizontal axis chip crushers. The vertical axis chip crusher segment is likely to dominate the market over the forecast period. Increased production of vertical axis chip crusher machine by several market players is attributed to the market growth.The market finds application in coal, plastic, paper, metal, steel, and others. The metal and steel segment is likely to register fastest growth in years to come owing to the growing production of steel and metal across the globe. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
Why to buy this report: