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Profile Shredders Market Accounts For A Valuation Of US$ 1.46 Billion In 2023

profile-shredders-market-forecast-2023-2033

According to a recent market report by Fact.MR, the global profile shredders market is presently valued at US$ 1.46 billion and is anticipated to grow to US$ 3.21 billion by the end of 2033.

The demand for profile shredders has been significantly influenced by the rise in commercial spaces around the world, and this trend is predicted to continue in the years to come. It is also projected that market growth will be aided by the expanding use of paper shredders in government and business organizations to control paper waste and dispose of sensitive documents. Because of its growing urbanization, the Asia-Pacific area is predicted to become one of the world’s most lucrative regional markets.

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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 the Market Study

  • From 2018 to 2022, the demand for profile shredders increased at an 8.7% CAGR.
  • In 2023, the market for profile shredders will be worth US$1.46 billion.
  • Shipments of profile shredders are anticipated to increase at a high-value CAGR of 8.2% over the following ten years.
  • Demand for profile shredders is anticipated to reach a valuation of US$ 3.21 billion by 2033’s end.
  • Sales of profile shredders are anticipated to increase in the next years due to an increase in the number of commercial spaces and the requirement for effective paper disposal in government offices.
  • It is anticipated that the rapidly rising digitization and rising preference for digital versions of papers will partially restrain market expansion.
  • Sales of cross-cut profile shredders are anticipated to rise at a 9.1% CAGR from 2023 to 2033.
  • 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.

Winning Strategy:

Manufacturers of profile shredders should concentrate on expanding the breadth of their businesses across various applications in order to remain relevant as the speed of digital transformation increases up. To boost their sales potential and obtain a competitive edge over other market participants, profile shredder suppliers should also engage in the creation of economical, energy-efficient goods.

In this most recent research study from Fact.MR, a provider of market research and competitive intelligence, more specific information has been presented and addressed regarding how profile shredder suppliers can expand their business scope on a global level.

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Over the next 10 years, the rise in the number of commercial spaces in the United States is anticipated to have a significant impact on the demand for profile shredders. A highly favourable environment for market expansion is also anticipated to be created by the presence of major shredder brand names in the nation.

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
  • 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

More Valuable Insights on Offer

In its latest release, FactMR provides an independent analysis of the global market for profile shredders, with historical demand data (from 2018 to 2022) and projection figures (2023 to 2033).

In five major regions of the world, the study provides key market insights based on type (strip-cut, cross-cut, and micro-cut), sheet capacity (less than 5 sheets, between 5 and 10, between 11 and 50, between 51 and 200, and above 200 sheets), user count (up to 5 users, between 5 and 15 users, archives/central stations), and application (residential, commercial, research & academic).

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