Paper Shredders Market Revenue Reach $2.9 Billion | Global Industry Report Forecast 2025 | Market Research Report
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.
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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.
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
