The global industrial shredder machine market to grow at a CAGR of 0.72% during the period 2017-2021.
The report, Global Industrial Shredder Machine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is the growing sales of EVs. Over the past few years, the interest in electric vehicles (EVs) in the US automotive sector has increased. This is because manufacturers are beginning to introduce new EVs with advanced technology. The country is proposing to be the global leader in next-generation vehicle technologies. With the support of financial incentives and R&D from the government, the country believes in reducing its dependence on petroleum products for transportation. Therefore, the future for EVs seems to be optimistic about. Sales of plug-in cars in the US was 50.1 thousand units in 2005, and this number increased to 295.1 thousand units in 2015.
According to the report, one driver in the market is the rise in production of light vehicles. The demand for light vehicles is expected to rise across many regions other than in Japan and South Asia. In South Asia, there will be a slow growth in the demand due to the lack of presence of major automobile manufacturers. Japan's automobile sector majorly exports to European and American countries. Japan's automobile sector includes some of the most innovative and technologically advanced products. However, these advantages will not be sufficient to outplay the emerging competition from European automobile manufacturers. There are various factors that are going to affect the Japanese automobile sector. The factors include high domestic cost, strengthening of the Japanese currency yen, and the need to be near the local market that will be a risky change in manufacturing and sourcing processes and policies.