The global paper shredders market size is expected to reach
USD 2.9 billion by 2025, according to a new report by Grand View Research,
Inc., expanding at a CAGR of 7.8% over the forecast period. The market is
driven by consumer spending on disposal of highly secured documents to prevent them
from theft, along with the rise in demand from the commercial sector. Moreover,
drastic changes in the purchasing power of consumers in developing countries
such as China and India are anticipated to boost the product demand over the
forecast period.
The market is driven by high growth of private
companies and demand for office products in Asia Pacific, along with rise in
the sales of cost effective items used in the industry. The growth is
attributed to growing working population, along with rise in the disposable
income of consumers to accommodate paper shredding machines in industry.
Moreover, introduction of efficient appliances and growth of the consumer and
industrial sectors are anticipated to drive the demand in market.
A large number of manufacturers and
distributors are entering into the market owing to increasing demand for
shredders in the market. However, impact of e-commerce channels, rise in the
number of convenience and specialty stores, cost effectiveness, and demand for
shredding appliances for the disposal of secured data from consumers provide a
huge opportunity for growth of the market.
The paper shredder market in Asia Pacific is
anticipated to witness significant growth in the coming years due to growth of
the commercial sector having a huge product demand, along with increasing
number of launches in the market. Moreover, rise in the sales observed due to
the stabilizing economic conditions in Asia Pacific countries is likely to
boost the demand for products over the forecast period. However, rise in the
number of domestic manufacturers in the segment due to a wide consumer base and
demand has driven the market.
Growing consumer awareness regarding shredding
paper products, along with impact of leading players, is resulting in lowering
of the labor force in the industry. Moreover, the fact that it provides
security to confidential documents in the large government and commercial
spaces will fuel its demand in the market. Rise in company developments such as
product launches and awards and recognitions is also driving the market.
The market is recognized by a few initiatives
such as launches, mergers, online sales, limited extension, and developments.
Key players in the business include Fellowes, Inc.; Krug + Priester GmbH &
Co. KG; ACCO Brands; Intimus Shredder; HSM GmbH + Co. KG; Elcoman Srl; Dahle
North America, Inc.; and Martin Yale Industries.
For full research report on Paper
Shredder Market visit here: https://www.grandviewresearch.com/industry-analysis/paper-shredders-market
Further key
findings from the report suggest:
- In terms of
revenue,micro-cut products are projected to ascend at a CAGR of 9.0% over
the forecast period
- Offline channel
dominated the global paper shredders market with an overall share of 86.3%
in 2018
- North America
dominated the global market in 2018, accounting for 38.8% share of the
total revenue. This trend is projected to continue over the next few years
- The paper shredder
market in Asia Pacific is anticipated to witness growth due to increasing
disposable income in India, South Korea, China, and Japan
- The industry is
highly competitive in nature with the main players including Fellowes,
Inc.; Krug + Priester GmbH & Co. KG; ACCO Brands; Intimus Shredder;
and HSM GmbH + Co. KG
- Various
manufacturers are concentrating on new product launches, capacity
expansion, and technological innovation to estimate existing and future
demand patterns from upcoming product segments.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/paper-shredders-market/request/rs1
Grand
View Research has segmented the global paper shredders market on the basis of
product, distribution channel, and region:
Paper
Shredders Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Strip-cut
- Cross-cut
- Micro-cut
Paper
Shredders Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Online
- Offline
Paper
Shredders Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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