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 f...