Chip Crusher Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2016 - 2024
Albany, NY, NY -- (SBWIRE) -- 05/18/2017 -- Chip crusher is a machine which crushes or shreds metal which can be later used for many purposes including retrieval and abstraction of cutting fluids from such material, briquetting, or for ease of handling bulk transport. The global chip crusher market is expected to grow at a substantial pace over the forecast period.
With growing environmental concerns and rising emphasis on sustainable development, the global market is estimated to have an optimistic growth trend in the coming years. Due to rising concerns of global warming, countries such as China and India are increasing their use of scrap iron to lessen the overall carbon footprints.
Recycling scrap decreases the negative environmental effects by reducing the need for iron ore extraction for steel manufacturing in addition to improving the industry's economic feasibility. As a result, there is a significant reduction of harmful gas emissions such as carbon monoxide and carbon dioxide. Additionally, it saves water and energy consumption along with reducing air pollution. Due to these competences, steel scrap has become an excellent source of raw material for steel manufacturers, which is fuelling the growth of this market.
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High cost is a challenge for this market. Due to high cost of chip crushers, many small and medium scale industries are unable to afford a good quality chip crusher. Though there is shift toward the organized sector or established companies operating in the steel industry, a significant portion of the global demand for steel is met by small and medium scale enterprises.
However, active chip management has numerous financial benefits that producers can take advantage of to augment their profit margins. The cost of scrap acquired from clean, regularly sized, dehydrated chip is very high, as they can be reused as raw materials. Moreover, these dry chips offer an extraordinarily high-grade re-melt value, as they have been isolated from the bar ends, cutting fluids, and other impurities. The availability of dry chips is essential in realizing a good quality product, which will eventually lead to an increase in demand for crushed metal chips in the coming years.
The chip crushers market may be segregated based on type and geography. By type, the market is bifurcated into single roll machine tool shredder, and rolling ring type crusher. Among types, the rolling ring type crusher held the maximum share of the market.
The rolling ring impact crusher is largely used for average and fine crushing of turnings and metal chips. A number of hammer rings, held together by revolving arms secured to a high speed rotor chute crush the incoming metal chips and metal turnings against grate bars which are positioned at the bottom most part of the crushing chamber and breaker plate.
In terms of geography, the global chip crushers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Presently, the Asia Pacific region has the maximum share in the global market. China is the world's largest producer of steel. Therefore, it has a substantial influence on the overall demand for steel scrap in the market.
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Aspects such as the increasing environmental concerns as well as global restrictions on the export of various ores such as nickel ore (by Indonesia) will positively impact the growth prospect in the Asia Pacific region. Additionally, the presence of a well-established scrap steel market in the region is likely to drive the market for chip crushers in the region.
The key players in the market are Endo Kogyo, ARS, Shredding Technology, ERDWICH, and Lanner. Other vendors operating in the market are The Shredder Company, Mayfran International, UNTHA, Lubriserv, PRAB, and Nederman.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.