Global Waste 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 a considerable demand for 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 terms of vehicle tire consumption and is expected to grow with healthy CAGR in the near future which is thus anticipated to be a significant platform for the tire shredder market. The reason for the 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 has also been a pioneer in tire recycling where a good number of tire shredders have been installed in the nation.