Press release
Growing Environmental Consciousness Propels Vehicle Scrapping Market Growth Emerges as a Core Driver of the Vehicle Scrapping Market in 2025
Vehicle Scrapping Market
What Is the Expected CAGR for the Vehicle cra*pping Market Through 2025?
The size of the vehicle cra*pping market has expanded swiftly in recent times. An escalation from $80.9 billion in 2024 to $93.61 billion in 2025 is projected, equating to a compound annual growth rate (CAGR) of 15.7%. The historic growth can be linked to the rise in urbanization and limited space, a boost in autonomous vehicle usage, the burgeoning trend of shared mobility services, international harmonization of vehicle recycling standards, and a rising emphasis on second-life applications.
What's the Projected Size of the Global Vehicle cra*pping Market by 2029?
The market size for vehicle cra*pping is predicted to experience a quick expansion in the coming years, blossoming to a worth of $165.54 billion by 2029, boasting a compound annual growth rate (CAGR) of 15.3%. This predicted growth during the forecast period can be linked to a surge in consumer preference for sustainable and environmentally friendly goods, increased personal tendencies towards owning a vehicle, a heightened attention on the circular economy, a rise in electric vehicle (EV) cra*pping, and the development of recycling infrastructure. Key anticipated trends for this period are progressions in electric vehicles (EVs), technological advancements in recycling procedures, development in battery recycling, the recycling of lightweight materials, and the integration of new technologies.
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Top Growth Drivers in the Vehicle cra*pping Industry: What's Accelerating the Market?
Growing eco-awareness is anticipated to boost the expansion of the vehicle cra*pping market in the future. Eco-awareness is grounded in the understanding of the repercussions of human actions on our surroundings and a commitment to opting for choices that mitigate negative impacts. This surge in environmental awareness can be attributed to a heightened awareness of climate change, systematic research, ecological catastrophes, and sustainability drives. Vehicle cra*pping contributes positively to environmental consciousness by recycling useful materials, managing hazardous substances safely, and decreasing the waste and contamination that come from vehicles at the end of their usage. To illustrate, in April 2024, theroundup.org, a US-origin website committed to fostering environmental awareness, reported that the ratio of individuals who consistently or frequently seek out eco-friendly products rose from 27% in 2021 to 62% in 2024. Consequently, the increasing environmental consciousness is a leading factor for the development of the vehicle cra*pping market.
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What Trends Will Shape the Vehicle cra*pping Market Through 2029 and Beyond?
Leading corporations in the vehicle cra*pping sector are expanding their services by introducing novel solutions like certified vehicle cra*pping facilities. This move aims to boost adherence to environmental standards and elevate the efficiency of vehicle dismantling processes. Certified vehicle cra*pping facilities are approved and authenticated establishments that abide by the rules for safely dismantling, recycling, and discarding end-of-life vehicles. They ensure proper management of harmful substances and the protection of the environment. For illustration, Tata Motors Limited, a firm rooted in India, unveiled Re.Wi.Re, the first registered vehicle cra*pping facility (RVSF), in February 2023. Re.Wi.Re aims to deal with end-of-life vehicles in an environmentally-conscious way and can handle up to 15,000 vehicles per year. By using progressive eco-friendly methods and complete digitalization, Re.Wi.Re seeks to foster ecological mobility. It also supports the national vehicle cra*ppage scheme by advocating for the phasing out of older, pollution-causing vehicles. This endeavor reveals Tata Motors' dedication to environmental sustainability and forms part of its strategy to develop more RVSFs within India.
What Are the Main Segments in the Vehicle cra*pping Market?
The vehicle cra*ppingmarket covered in this report is segmented -
1) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
2) By Material: Steel, Aluminum, Copper, Other Materials
3) By Application: New Products Manufacture, Reusable Parts
Subsegments:
1) Passenger Vehicles: Sedans, SUVs
2) Commercial Vehicles: Light Commercial Vehicles, Heavy Commercial Vehicles
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Which Top Companies are Driving Growth in the Vehicle cra*pping Market?
Major companies operating in the vehicle cra*pping market are Tata Motors Ltd., Mahindra& Mahindra Ltd., LKQ Corporation, Sims Metal Management Ltd., Copart Inc., Schnitzer Steel Industries, ASM Auto Recycling Ltd., Scholz Recycling GmbH, American Iron & Metal Company Inc., Blue Water Recycling Inc., Pick-n-Pull, Hensel Recycling Group, J & J Recycling Inc., Evergreen Recycling Inc., Keiaisha Co. Ltd., Green Metals Inc., City cra*p Metal Ltd., Auto Recycling Solutions Inc., Certified Auto Recyclers Inc., Premier Recycling Ltd., Eco Recycling Ltd
Which Regions Will Dominate the Vehicle cra*pping Market Through 2029?
Asia-Pacific was the largest region in the vehicle cra*pping market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle cra*pping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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