Vehicle Recycling Market Size and Industry Trends | 2027 | Outlook, Forecast, Analysis and Opportunity

According to IMARC Group's latest report, titled "Vehicle Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global vehicle recycling market size reached US$ 67 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 139.8 Billion by 2027, exhibiting a growth rate (CAGR) of 14.1% during 2022-2027.

Vehicle recycling refers to the process of dismantling and reducing automobiles to small pieces. It involves the removal of all reusable parts like tires, wheels, batteries, radiators, transmission systems, oil filters and rubber hoses. After this, auto recyclers crush the vehicles using mobile auto crushing units. Earlier, the remaining shredded residue, made up of textile fibers, plastics, glass and even rust, usually ended up in landfills. However, with the latest vehicle recycling technologies, it has become possible to sort shredded materials, thereby enabling a zero-landfill process.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/vehicle-recycling-market/requestsample

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Vehicle Recycling Market Trends:

The widespread adoption of metal piece, particularly steel, in the manufacturing of affordable, lightweight and fuel-efficient vehicles represents one of the major factors driving the vehicle recycling market worldwide. Besides this, governments of various nations are implementing several regulations to reduce the negative environmental impact associated with the end of life vehicles (ELVs) and the disposal of batteries, rubber, oils and other materials. Moreover, nowadays, automotive recyclers are using sophisticated tools and methods to recover used vehicles for extracting polymers, fluids and natural materials. They are also utilizing various innovative devices, such as optical sensors, to identify small pieces of metal in the atom. However, the coronavirus disease (COVID-19) pandemic is anticipated to negatively impact the recycling industry, as most automakers and recyclers have shut their plants to comply with lockdown directives announced in several countries.

Vehicle Recycling Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the vehicle recycling market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

ASM Auto Recycling Ltd.
Copart Inc.
Eco-bat Technologies
INDRA
Keiaisha Co. Ltd.
Hensel Recycling Group
LKQ Corporation
Schnitzer Steel Industries 
Scholz Recycling GmbH
Sims Metal Management Limited

Key Market Segmentation:

The report has segmented the vehicle recycling market on the basis of type, material, application and region.

Breakup by Type:

Passenger Cars Recycling
Commercial Vehicles Recycling

Breakup by Material:

Iron
Aluminium
Steel
Rubber
Copper
Glass
Plastic
Others

Breakup by Application:

OEMs
Aftermarket

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Ask Analyst for Customization and Explore full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1907&flag=E

Note: We are updating our reports, If you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key Highlights of the Report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact Us:

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.