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 Strategy
Profile 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 Landscape
Profile 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
- Strip-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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