Global Tire Shredder Market: Introduction
Recycling tire is one of the reigning trends in automotive industry which is done by tire manufacturers and aftermarket independent vendors. To facilitate this process shredding of the bulk tire into smaller fragments or a granular form is required for convenient chemical processing in the further stage of tire recycling.
A tire shredder is and equipment which is used upon used/crumb tires and performs the desired purpose. Tire shredders equipment is basically characterized by two types of operating drive i.e. – hydraulic and electrical based tire shredders. Tire shredder exist in various product configurations such as, shear shredder, chippers, grinders, granulators, specialty shredder, etc. 3
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Global Tire Shredder Market: Market Dynamics
Initiative of energy and natural conservation, which being mandated at several regional governments has led to the recycling of tires thus driving the tire recycling process equipment market including tire shredders. Apart from core rubber being extracted from tire shredding other by-products such as wire-free chips, steel, rubber, etc. are obtained which can be used as fuel feedstock or fuel additive.
This lucrative opportunity has also encouraged waste recycling companies to sell the by-products of used tires to external energy generation agencies for which the installation and operations of tire shredders have augmented its market growth. Furthermore, the end products produced from the tire shredder have wide range of end uses such as, in civil engineering, shoe manufacturing, and other sustainable landscaping outlets. Another driving factor for the growth of tire shredders is that the average lifespan of automotive tire being 4-5 years and significant procurement cost of new tire has resulted in independent aftermarket agencies offering recycled tires at a nominal rates.
This objective is being achieved with the help of tire shredder being a crucial equipment in the recycling process. Additionally, the tire manufacturers can themselves procure the used tires and recycle the same thus reducing consumption of rubber of raw materials saving significant manufacturing overhead costs. This will create new growth opportunities for use of tire shredders in upcoming years. The above said factors are projected to facilitate a healthy growth for tire shredder market in the current and upcoming periods.
However, with the tire manufactures are emphasizing on to produce durable tires having long life-cycle, may offset the rate of tire shredding which may act as a restraint for the global tire shredder market. In spite of this factors, the market participants and industry experts are optimistic that the adoption of tire shredder would be on an upward growth path in the long run.
Global Tire Shredder Market: Market Segmentation
The global tire shredder market can be segmented on the basis of product type, operating drive, tire type, and regions.
On the basis of product type, the global tire shredder market can be segmented as mentioned below:
- Shear Shredder
- Specialty Shredder
On the basis of operating drive, the global tire shredder market can be segmented as mentioned below:
- Electrical Tire Shredder
- Hydraulic Tire Shredder
Global Tire Shredder Market: Regional Outlook
Geographically, the global tire shredder market is dependent upon the consumption pattern of automotive tires for the particular region. For instance, South East Asia Pacific and Western Europe are key regions for the usage of tire shredder at present. China and India are the most opportunistic countries in the tire shredder market, owing to the presence of most of the aftersales tire manufacturers and can be identified as emerging markets in years to come. The next preferred territory for considerable demand of tire shredder is from the U.S., owing to increasing demand for low commercial vehicles (LCV) in the country.
Furthermore, in FY2017, Europe crossed around 100 million units in term of vehicle tire consumption and is expected to grow with healthy CAGR in near future which is thus anticipated to be significant platform for the tire shredder market. The reason of high adoption of tire shredder in Europe is also due to mandated initiatives such as REACH, R3 Model and Carbon Footprint reduction mission being implemented by developed and developing countries in the region. Japan also been as a pioneer in tire recycling where a good number of tire shredders have been installed in the nation.
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Global Tire Shredder Market: Industry Participants
The global tire Shredder market is understood to be as a fragmented market due to the presence of proficient number of tier-2 manufactures at regional level. Few prominent players are identified across the tire Shredder market value chain are –Granutech-Saturn Systems,
- SSI Shredding System,
- Northern California Compactors, Inc.,
- ABB AB, CM Shredder,
- SMS Hydrotech,
- Tire Shredder Unlimited,
- Fabtex Engineering Works,
- Idea Holding Limited,
- Recycling Equipment, Inc.,
- Spadone-Hypex, Inc.,
- Weima America Inc.,
- ACS Group,