Global Vehicle Scrapping Market Size, Share, Forecast 2022 – 2032 sphericalinsights.com

The Global Vehicle Scrapping Market Size is expected to reach USD 295.15 Billion by 2032, at a CAGR of 15.1% during the forecast period 2022 to 2032.Vehicle scrapping, also known as vehicle recycling, is the process of dismantling and recycling old or unwanted vehicles. It entails collecting old vehicles, draining their fluids, carefully dismantling them to salvage reusable parts, and shredding the remaining vehicle shell to separate materials for further recycling, such as steel, aluminum, rubber, plastics, and others.