According to IMARC Group’s latest report, titled “: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the United Kingdom vehicle recycling market reached a value of US$ 1.64 Billion in 2021. Vehicle recycling refers to the process of recovering spare parts, fuel and scrap metals of an automobile. It involves dismantling, crushing, shredding, and recovering the components through which magnetic pieces, sheet metals, seats, and wheels are retrieved. The non-ferrous metals are isolated from other materials through separation technologies such as laser, infrared, eddy current, and floatation methods. In addition, reusable components are cleaned, tested, and refurbished for resale after the fluids are drained over an impervious surface and stored for later use.
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The United Kingdom vehicle recycling market is primarily driven by the growing demand for affordable, lightweight and fuel-efficient vehicles manufactured from metal scraps such as steel. Besides this, rapid industrialization and urbanization and the growing consciousness among consumers regarding the benefits of recycled materials are increasing the preference for vehicle recycling. This is also minimizing the dependency on natural resources. In addition, vehicle recyclers are using sophisticated tools and methods to extract polymers, fluids, and raw materials without harming the environment. Furthermore, the development of innovative products like optical sensors that identify small pieces of metal in scrap is also facilitating market growth across the region. Looking forward, IMARC Group expects the United Kingdom vehicle recycling market to reach US$ 2.35 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Ampthill Metal Company
- ASM Auto Recycling Ltd.
- Auto Spares & Salvage Limited
- com Limited
- Charles Trent Ltd.
- Copart UK Ltd. (Copart Inc)
- Go Green Vehicle Recycling & Recovery Ltd.
- LJC Auto Spares Ltd
- Motorhog Ltd. (SYNETIQ Limited)
- Norfolk Salvage
- Overton Garage Limited
- Recycling Lives Limited
- Silverlake Garage
- Sole Bay Car Spares Ltd.
- SWM & Waste Recycling Ltd.
- The Little Vehicle Recycling Company
- Van Services Ltd.
- Wigston Car Breakers.
Breakup by Vehicle Type:
- Passenger Cars Recycling
- Commercial Vehicles Recycling
Breakup by Material:
Breakup by Application:
Breakup by Region:
- North West England
- Yorkshire and the Humber
- West Midlands
- East of England
- South West England
- South East England
- East Midlands
- North East England
- Greater London
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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
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