Profile Shredders Market Revenue is Expected to Account for US$ 3.21 Billion at 8.2% CAGR by 2033: Fact.MR Analysis

Profile Shredders Market Analysis By Shredding Type (Strip-cut, Cross-cut, Micro-cut), By Number of Users (Up to 5 Users, Up to 15 Users, Archives/Central Stations), By Sheet Capacity (< 5 Sheets, 5 to 10 Sheets, 11 to 50 Sheets, 51 to 200 Sheets, Above 200 Sheets), By Application (Residential, Commercial, Research & Academics) and Region

Rockville, May 25, 2023 (GLOBE NEWSWIRE) -- The global profile shredders market currently stands at a valuation of US$ 1.46 billion and is estimated to reach US$ 3.21 billion by 2033-end, as per this new market study by Fact.MR.

Growing number of commercial spaces around the world have influentially shaped the demand for profile shredders and are expected to do the same over the coming years as well. The surging use of paper shredders in government and corporate offices to dispose of confidential documents and manage paper waste is also anticipated to favor market development across the forecast period through 2033. The Asia Pacific region is anticipated to emerge as one of the most lucrative regional markets in the world owing to increasing urbanization.

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Profile shredder manufacturers are launching new products to expand their business potential and generate more sales to bolster their presence in this competitive landscape.

In June 2022, Bonsaii, a renowned paper shredder manufacturer, announced the launch of its new cross-cut paper shredder. The latest shredder launched has a capacity of 20 sheets.

Key Takeaways from Market Study

Demand for profile shredders from 2018 to 2022 rose at 8.7% CAGR.

The global profile shredders market accounts for a value of US$ 1.46 billion in 2023.

Over the next ten years, profile shredder shipments are projected to rise at a high-value CAGR of 8.2%.

By 2033-end, demand for profile shredders is forecasted to rake in a valuation of US$ 3.21 billion.

An increasing number of commercial spaces and growing demand for proper paper disposal in government offices are expected to boost profile shredders sales over the coming years.

Rapidly increasing digitization and growing preference for digital copies of documents are expected to impede market growth to some extent.

From 2023 to 2033, cross-cut profile shredder sales are projected to increase at 9.1% CAGR.

Profile shredder demand in India is forecasted to rise at a phenomenal 13% CAGR and amass a revenue of US$ 2.84 billion by 2033-end.

Rising paperless economy trend around the world is expected to be a major threat for profile shredder manufacturing companies in the future , says a Fact.MR analyst

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Winning StrategyProfile shredder manufacturers should focus on diversifying their business scope across different applications to stay relevant in the future as digital transformation picks up pace. Profile shredder suppliers should also invest in the development of energy-efficient and affordable products to increase their sales potential and gain a competitive advantage over other market players.

More detailed information on how profile shredder suppliers can amplify their business scope on a global level has been mentioned and discussed in this latest research report by Fact.MR, a market research and competitive intelligence provider.

Competitive LandscapeProfile shredder manufacturers are penning new distribution agreements to reach out to new regions and expand their business potential to maximize profitability on a global level.

In October 2021, Krif Ghana Limited acquired exclusive distribution rights to sell a new range of Hewlett-Packard (HP) document shredders and laminators in Ghana.

Key suppliers of shredders are focusing on launching new products to advance their sales growth and improve their stance in the global marketplace.

In January 2022, Fellowes Brands, a renowned manufacturer of office accessories and technologies, announced the launch of a new paper shredder. The Powershred® 99Ci Cross-Cut Shredder is equipped with SilentShred technology and SafeSense technology to provide a 100% jam-proof experience.

Key Companies Profiled

ACCO Brands

GBC

Allegheny Shredders

Aurora Corp. of America

Dahle North America Inc.

MBM Corp.

ELCOMAN S.r.l.

Fellowes Brands

Swingline

intimus

Guangzhou Sunshine Comet Electronic Technology Co. Ltd.

HSM Shredders

Krug & Priester GmbH & Co. KG

Key Segments of Profile Shredders Industry Research

By Shredding Type :

Strip-cut

P-1 (Strips ≤ 12 mm)

P-2 (Strips: ≤ 6 mm)

P-3 (Strips: ≤ 2 mm)

Cross-cut

P-4 (Cross-cut: ≤ 160 mm²)

P-5 (Cross-cut: ≤ 30 mm²)

P-6 (Cross-cut: ≤10 mm²)

P-7 (Cross-cut: ≤ 5 mm²)

Micro-cut

By Sheet Capacity :

< 5 Sheets

5 to 10 Sheets

11 to 50 Sheets

51 to 200 Sheets

Above 200 Sheets

By Number of Users:

Up to 5 Users

Up to 15 Users

Archives/Central Stations

By Application :

Residential

Commercial

Government Offices

Financial Firms

Law Firms

Security Firms

Healthcare Sector

Real Estate

Corporate Offices

Others

Research & Academics

By Region:

North America

Latin America

Europe

APAC

MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global profile shredders market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on type (strip-cut, cross-cut, micro-cut), sheet capacity (< 5 sheets, 5 to 10 sheets, 11 to 50 sheets, 51 to 200 sheets, above 200 sheets), number of users (up to 5 users, up to 15 users, archives/central stations), and application (residential, commercial, research & academics), across five major regions of the world.

Key Questions Covered in the Profile Shredders Market Report

What will be the estimated size of the Market in 2023?

At what rate will the global Profile Shredders sales grow until 2033?

Which are the factors hampering the Profile Shredders demand?

Which region will spearhead the growth in the global industry by 2033?

Which are the factors driving sales in the Profile Shredders Market during the forecast period?

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Europe Scrap Metal Shredder Market Size : Europe scrap metal shredder market is anticipated to project a valuation of US$ 390.5 million in 2023 and further expand at a CAGR of 5.2% to reach US$ 650.9 billion by the end of 2033. Metal shredders are used for crushing various types of scrap metal.

Europe Bio-Waste Shredder Market Share : The Europe bio-waste shredder market is set to enjoy a valuation of US$ 139 Million in 2023 and further expand at a CAGR of 4.3% to reach US$ 212 Million by the end of 2033. Europe accounts for roughly 10% of the global waste production and in an attempt to move closer to being a circular economy.

Europe Tire Shredder Market Revenue : The Europe Tire Shredder Market size is set to reach US$ 454.9 million in 2023 and is projected to grow at a CAGR of 4.1% to reach US$ 680.9 million by the end of 2033. Under the operating drive segment, electrical tire shredders are dominating the market with a market share of 53.0%.

Europe Waste Shredder Market Growth : The Europe waste shredder market growth is estimated to be valued at US$ 228.0 Million in 2022 and further expand at a CAGR of 3.2% to reach US$ 235.0 Million by the end of 2033. Waste shredders are employed to smash a variety of scrap materials.

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