Vehicle Recycling Market Size | 2027 | Trends, Demand, Industry Segmentation and Statistics

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 involves dismantling a vehicle to recover and recycle fuel, spare parts, magnetic pieces, seats, wheels, sheet metals, and scrap metals. In the process, vehicles are crushed and shredded, after which the metal content is recovered for recycling, and the rest is further sorted by machine for recycling supplementary materials, such as glass and plastics. The reusable components are tested, cleaned, and refurbished for resale, while the fluids are drained over an impermeable surface and stored for later use. Some of the commonly used separation technologies include eddy current, laser, infrared, and flotation methods.

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Global Vehicle Recycling Market Trends:

The rising environmental awareness has significantly surged the demand for recycled automotive parts, which represents one of the key factors accelerating the market growth. Moreover, the rapid urbanization and the increasing adoption of metal scrap, such as steel, to manufacture lightweight, affordable, and fuel-efficient vehicles are creating a positive outlook for the market. In line with this, governments of various nations are implementing several regulations to minimize environmental hazards associated with the disposal of oils, batteries, and rubber, which, in turn, is providing a considerable boost to the market growth. Apart from this, the rising application of recycled batteries in manufacturing consumer electronics and surging consumer expenditure power are boosting the market growth.

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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)

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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.

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.

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