The metal machining scrap equipment market
size is forecast to increase by USD 319.08 million from 2022 to 2027, at a CAGR
of 3.49%, according to the recent market study by Technavio. The report
includes historic market data from 2017 to 2021. In 2017, the parcel sortation
market was valued at USD 1,549.66 million. The growth of the market will be
driven by the increasing demand for metal scrap in various application
industries, the rising demand for housing projects globally, and the stringent
government legislation to reduce environmental pollution.
Meanwhile, the scrap metal recycling market
share is expected to increase to 340.73 million tons from 2022 to 2027, and the
market's growth momentum will accelerate at a CAGR of 8.15%. The metal
machining market share is expected to increase to USD 13.52 billion from 2021
to 2026, at a CAGR of 3.24%.