Global Paper Shredder Market Size, Share, Growth, and Forecast Report 2030

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Blogger
July 24, 2023
Business Technology

The global paper shredder market was valued at approximately USD 2298 million in 2022 and is expected to rise to approximately USD 4123 million by 2030, at a compound annual growth rate (CAGR) of approximately 7.58% between 2023 and 2030.

Paper Shredder Market: Overview

Shredders are mechanical devices that are used to shred bits of paper into thin particles or strips. Shredders can be found in offices, schools, and homes. They are utilised in a variety of settings, including private organisations, government departments, and other locations, with the purpose of obliterating all traces of private or classified documents. These gadgets can be found in a wide variety of shapes or sizes, ranging from simple and inexpensive machines to more complex and pricey shredders. With the passage of time, the industry that manufactures paper shredders and distributes them has seen tremendous changes, including the inclusion of new functions as well as the removal of superfluous features that were not beneficial or the modification of those features to make them less redundant. Since individuals have begun to place a greater emphasis on protecting their own privacy, there has been a rise in the number of businesses that use paper shredders. The growth trajectory of the market for paper shredders is impacted by a number of obstacles and restrictions, but there are also a number of elements that are responsible for the industry’s higher growth rate.

Paper Shredder Market: Growth Drivers

Increased focus on maintaining data privacy and security in order to propel market expansion

It is anticipated that the global market for paper shredders will expand as a result of the growing emphasis placed on the deployment of new solutions that improve data privacy and protection. There are a number of regions that, with the assistance of government laws and regulations, have stringent standards for the security of personal data. For example, in 2018, the European region saw the introduction of the General Data Protection Regulation (GDPR) Act, which is widely regarded as the most stringent security and protection law in the entire world. There are a number of regulations that are connected to this act and one of these rules relates to the amount of time that it is legal for commercial facilities such as workplaces, medical facilities, and government organizations to keep the personal information of employees, patients, or the public population in offline ways.

Paper Shredder Market: Segmentation

The market for paper shredders is broken down into different submarkets depending on factors such as bin capacity, type, application, and region.

The global market can be broken down into four different sectors according to bin capacity: over 135 liters, 71 to 135 liters, 21-70 liters, and up to 20 liters. In 2022, the segment that ranged from 21 to 70 liters had the highest CAGR that was recorded. This is mostly the result of the widespread use of these paper shredder types in terms of the capacity of their bins. As a result of their capacity to handle moderate to substantial amounts of shredded paper, they are most commonly encountered in a variety of commercial settings. In addition, facilities that operate frequently with offline data and which may necessitate the destruction of bigger amounts of secret information may utilize shredders with capacities ranging from 71 to 135 liters. At this time, shredders with a security rating of P-7 are the safest device for shredding particles with a cross-sectional area of 5 mm2 and a width of 1 mm.

Paper Shredder Market: Regional Analysis

North America to hold dominance over a major share of the market

The global paper shredder market will be led by North America during the forecast period due to the growing adoption of paper shredders across commercial and residential centers. Regions such as the US and Canada have several commercial units that spend extensively on managing data privacy. Regional manufacturers have played a crucial role in strengthening the demand for innovative paper shredders by investing in research and development.

Paper Shredder Market: Competitive Analysis

The global paper shredder market is led by players like:

Staples
Fellowes
AmazonBasics
Royal
HSM
Swingline
Rexel
Bonsaii
Aurora
Acco Brands
ShredCare
Sentinel
Dahle
Swordfish
GoECOlife
Powershred
Kobra
Ideal
Destroyit
GBC
Others

The global paper shredder market is segmented as follows:
By Bin Capacity

Above 135 Liters
71 to 135 Liters
21-70 Liters
Up to 20 Liters
By Type

Micro Cut
Strip Cut
Cross Cut
By Application

Residential
Commercial
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa