Global Vehicle Recycling Market Growth (Status and Outlook) 2023-2029

Global Vehicle Recycling Market Growth (Status and Outlook) 2023-2029

The global Vehicle Recycling market size is projected to grow from US$ 73390 million in 2022 to US$ 201610 million in 2029; it is expected to grow at a CAGR of 15.5% from 2023 to 2029.

LKQ is the world's largest manufacturers of the Vehicle Recycling with a market share of about 13%. Other major manufacturers include Schnitzer Steel Industries, Scholz and Sims Metal Management, etc. The North America region is the world's largest market for Vehicle Recycling, has a share nearly 40%, followed by Europe and Asia-Pacific, with share about 30% and 27%, separately. In terms of product types, steel is the largest market segment, occupying for a share of about 68%. In terms of product applications, Vehicle Recycling is mainly used in materials recycling, with a market share of over 80%, the rest are reusable parts.

The automobile is already one of the most effectively recovered and recycled consumer products, with its parts being used again in vehicles or for other purposes. The metals used in its manufacture are routinely recovered, reused and recycled to high levels.

A major benefit of car recycling is that the steel from their parts can be reused for other purposes. This means that new ore doesn’t have to be mined and less energy is needed for the manufacture of recycled steel. This results in less air pollution, less water pollution and less mining waste, all a plus for the environment.

Proper recycling of cars also safely disposes of hazardous materials from the vehicle, such as oil, coolant, brake fluid and air conditioning gases that are harmful to environment and humans.

LPI (LP Information)' newest research report, the “Vehicle Recycling Industry Forecast” looks at past sales and reviews total world Vehicle Recycling sales in 2022, providing a comprehensive analysis by region and market sector of projected Vehicle Recycling sales for 2023 through 2029. With Vehicle Recycling sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vehicle Recycling industry.

This Insight Report provides a comprehensive analysis of the global Vehicle Recycling landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Vehicle Recycling portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vehicle Recycling market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vehicle Recycling and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vehicle Recycling.

This report presents a comprehensive overview, market shares, and growth opportunities of Vehicle Recycling market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Automotive Steel Recycling
Automotive Non-ferrous Metal Recycling
Automotive Plastic Recycling
Automotive Rubber Recycling
Others

Segmentation by application
Materials Recycling
Reusable Parts

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
LKQ
Schnitzer Steel Industries
Scholz
Sims Metal Management
European Metal Recycling
ECOBAT Technologies
ALBA Europe
Miracle Automation Engineering
GEM
KEIAISHA
Toyota Metal
Indra
SA Metal Group
Mahindra MSTC Recycling
Anel Doga
Kaiho Sangyo
GWA
Renova Ecopeças

Please note: The report will take approximately 2 business days to prepare and deliver.