Vehicle Scrapping Market, By Material, By Vehicle Type, By Application, By Geography

Description

Global Vehicle Scrapping Market is estimated to be valued at USD 74.91 Bn in 2024 and is expected to reach USD 139.31 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 74.91 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	9.30%	2031 Value Projection:	US$ 139.31 Bn

Figure. Vehicle Scrapping Market Share (%), By Region 2024

The global vehicle scrapping market has been witnessing significant growth in the recent years. With rising environmental regulations regarding carbon emissions and fuel efficiency standards across countries, scrapping of old and polluting vehicles has emerged as an important way to promote sustainability. Governments around the world are enacting policies to phase out conventional internal combustion engines and transition towards electric vehicles. This makes scrapping of old vehicles crucial to manage the large number of pre-owned vehicles plying on roads. Additionally, recycled materials from scrapped vehicles can potentially lower costs and reduce dependence on raw materials for original equipment manufacturers (OEMs) in the automotive industry. With growing environmental consciousness and policy support, the vehicle scrapping market is expected to expand steadily over the coming years.

Market Dynamics

The global vehicle scrapping market is driven by stringent emission norms implemented by regulatory bodies around the world. Growing awareness about the environmental impact of air pollution and depletion of natural resources is also propelling the demand for vehicle scrapping. Various government incentives and subsidies encourage responsible disposal of end-of-life vehicles that further boosts the market growth. However, lack of organized infrastructure for collection, dismantling and recycling processes is a major challenge. Moreover, availability of used vehicles at cheaper prices in the secondary market restricts the sales of new vehicles to some extent, thereby hindering the vehicle scrapping market. On the other hand, emerging opportunities lie in utilizing scrap materials for production of new automobile components to lower manufacturing costs. OEMs are also focusing on establishing authorized wrecker networks for ensuring compliance.

Key features of the study:

This report provides in-depth analysis of the global vehicle scrapping market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.

It profiles key players in the global vehicle scrapping market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.

Key companies covered as a part of this study include LKQ Corporation, Schnitzer Steel Industries, Copart Inc., Eco-bat Technologies, ASM Auto Recycling Ltd., Scholz Recycling GmbH, Sims Metal Management Ltd., Keiaisha Co. Ltd., Hensel Recycling Group, INDRA.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.

The global vehicle scrapping market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle scrapping market.

Market Segmentation

Material Insights (Revenue, USD Bn, 2019 - 2031)
- Steel
- Aluminum
- Copper
- Others
Vehicle Type Insights (Revenue, USD Bn, 2019 - 2031)
- Passenger Vehicles
- Commercial Vehicles
Application Insights (Revenue, USD Bn, 2019 - 2031)
- New Products
- Reusable Parts
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- LKQ Corporation
- Schnitzer Steel Industries
- Copart Inc.
- Eco-bat Technologies
- ASM Auto Recycling Ltd.
- Scholz Recycling GmbH
- Sims Metal Management Ltd.
- Keiaisha Co. Ltd.
- Hensel Recycling Group
- INDRA

Product Code: CMI7594

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Vehicle Scrapping Market, By Material
- Global Vehicle Scrapping Market, By Vehicle Type
- Global Vehicle Scrapping Market, By Application
- Global Vehicle Scrapping Market, By Region

3. Market Dynamics, Regulations, And Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
Industry Trends

4. Global Vehicle Scrapping Market, By Material, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Steel
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Aluminum
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Copper
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Global Vehicle Scrapping Market, By Vehicle Type, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Passenger Vehicles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Commercial Vehicles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Vehicle Scrapping Market, By Application, 2024-2031, (USD)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
New Products
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Reusable Parts
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Vehicle Scrapping Market, By Region, 2024 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- U.S.
- Canada
Latin America
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Material, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa

8. Competitive Landscape

LKQ Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Schnitzer Steel Industries
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Copart Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Eco-bat Technologies
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
ASM Auto Recycling Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Scholz Recycling GmbH
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Sims Metal Management Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Keiaisha Co. Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hensel Recycling Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
INDRA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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