IMARC Group, a leading market research company, has recently releases report titled “United Kingdom Vehicle Recycling Market Report by Vehicle Type (Passenger Cars Recycling, Commercial Vehicles Recycling), Material (Steel, Copper, Aluminium, Rubber, Iron, Plastic, Glass, and Others), Application (Aftermarket, OEMs), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the United Kingdom vehicle recycling market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the United Kingdom Vehicle Recycling Market?
The United Kingdom vehicle recycling market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
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United Kingdom Vehicle Recycling Market Trends and Drivers:
The stringent environmental regulations and the increasing awareness of the benefits of recycling end-of-life vehicles are the factors responsible for the growth of the United Kingdom vehicle recycling market. Additionally, the initiative taken by government authorities to reduce carbon emissions and manage waste more sustainably has enabled the disposal of end-of-life vehicles, enabling the automotive recycling industry to adopt environmentally friendly recycling practices, which is fueling the market. The recovery of a larger percentage of resources from scrap cars is made possible by this legislative framework and technological advancements in recycling, which lessen the need for raw materials. Moreover, the growing consumer awareness regarding environmental sustainability has further escalated the acceptance of recycled automotive parts, which is contributing to the growth of the market.
The increasing adoption of innovative recycling technologies, which enhances the efficiency of material recovery and the quality of recycled components, is also augmenting the United Kingdom vehicle recycling market. In addition to this, the rising focus on the circular economy model, which promotes the reuse and recycling of vehicle parts and materials to manufacture a more sustainable automotive industry, is creating a positive outlook for the market. Furthermore, the elevating demand for digital platforms that facilitate the trading of recycled parts and materials and the expanding market reach is anticipated to bolster the United Kingdom vehicle recycling market over the forecasted period.
Leading Companies Operating in the United Kingdom Vehicle Recycling Industry:
- Ampthill Metal Company
- ASM Auto Recycling Ltd.
- Auto Spares & Salvage Limited
- CarTakeBack.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
Key Market Segmentation:
The report is organized into distinct sections as follows:
Breakup by Vehicle Type:
- Passenger Cars Recycling
- Commercial Vehicles Recycling
By vehicle type, the market is segmented into passenger cars recycling and commercial vehicles recycling.
Breakup by Material:
- Steel
- Copper
- Aluminium
- Rubber
- Iron
- Plastic
- Glass
- Others
By material, the market is classified into steel, copper, aluminium, rubber, iron, plastic, glass, and others.
Breakup by Application:
- Aftermarket
- OEMs
By application, the market is categorized into aftermarket, and OEMs.
Regional Insights:
- 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
- Others
Region wise, the market is divided into 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, and others.
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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