Compactors Market Size was valued at USD 2.9 Billion in 2022. The Compactors industry is projected to grow from USD 3.0 Billion in 2023 to USD 4.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2023 - 2032). The abundance of options and the substantial demand in end-use industries, are the key market drivers enhancing the market growth.
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
The primary drivers of the compactors market's growth are the availability of a wide variety of goods and the increasing demand in end-use industries. Compactors are used by numerous industries, including chemical, automotive, pharmaceutical, and paint ones. Additionally, compactors are preferred by restaurants, hotels, and the public sector for garbage management. Municipalities employ compactors as a low-cost way to gather landfill waste. Municipal solid waste (MSW) generation in the United States increased by over 23.7 million tonnes in 2018 to 292.4 million tonnes, according to the EPA. As a result, it is anticipated that the demand for compactors would increase as MSW grows. Additionally, the technique enables waste processing facilities to recycle materials more frequently. The importance of managing food waste is predicted to grow, which will increase demand for compactors.
It is also projected that demand for refuse compactors would rise as more people become aware of the benefits of improved garbage collection services and programmes like Pay as you Throw are implemented by waste management agencies in numerous cities. About 2.01 billion tonnes of municipal solid garbage are produced ly each year. At least 33% of which are not appropriately managed to protect the environment. The demand for rubbish compactors is also expected to rise due to growing worries about landfill space shortages as well as the avoidance of burning waste in landfills due to dangerous gas emissions. The rise in population and the resulting rise in waste creation is a major factor driving the expansion of the refuse compactor market. Numerous efforts launched by the federal and state governments in recent years have centred on trash management. For instance, the Swachh Bharat Mission (SBM), India's national programme for cleanliness, encourages urban local authorities to monitor and carry out municipal solid waste management strategies.
The rise in the price of disposable waste is one of the main reasons for the expansion of the compactors market. Another important factor driving market expansion in developed countries is strict regulatory rules paired with higher waste disposal costs. To boost the market for compactors, numerous awareness campaigns including Pay as You Throw by garbage management businesses have been launched in numerous cities. The demand for compactors is also predicted to rise due to the rise in worries about landfill space limitations and the avoidance of burning waste in landfills due to dangerous gas emissions. Additionally, the introduction of compactors for domestic usage is anticipated to fuel the market's expansion.
Compactors are robust tools used for compaction during building and construction projects. When building roads, dams, airports and other constructions, earth, gravel, concrete or asphalt are compacted or reduced in size using these machines. They assist users in boosting general productivity and lowering labour costs. As a result, the demand for compaction equipment will keep rising in the market due to the increasing use of such equipment to compact paving materials like asphalt mixtures and roller-compacted concrete. Similarly, it is projected that throughout the forecast period, increasing investments in construction activities will push the market for compactors. Many prospective projects call for cutting-edge construction tools like tandem rollers and pneumatic rollers, which can work effectively in less time, as the building industry develops. In addition, improvements in compaction machinery and the implementation of stricter government restrictions are anticipated to have a beneficial effect on the market's expansion in the upcoming years. Thus, driving the Compactors market revenue.
The  Compactors market segmentation, based on Type, includes Landfill Compactors, Trash Compactors, Vibratory Plate Compactors, and Others. Trash compactors segment accounted for the largest revenue share in 2022. The built-in Wi-Fi connection with solar power transmitter that transmits signals to collect the empty bins once full is the newest trend in the garbage compactor market. This will assist in reducing garbage overflow. Among the technological developments in the garbage compactor market are the automatic loading door and the movable photo-eye sensor.
The Compactors market segmentation, based on End User, includes Residential, Commercial, Industrial, and Others. Residential segment dominated the compactors market in 2022. Due to rising urbanization and economic development, there has been an increase in solid waste generation and disposal throughout many emerging economies.
Figure 1: Â Compactors Market, by End User, 2022 & 2032 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Compactors Market dominated this market in 2022 (45.80%). Government regulations for machine vibration and security hazards are strict in North America. For instance, Volvo unveiled the ECR25 Electric, its first electric compact excavator, in Paris in August 2019. To reduce noise pollution and carbon emissions, it has taken the place of the conventional combustion engine excavator. Further, the U.S. Compactors market held the largest market share, and the Canada Compactors market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Â COMPACTORS MARKET SHARE BY REGION 2022 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Compactors market accounted for a healthy market share in 2022. This is explained by the robust industrial demand and growing public awareness of domestic garbage management. Further, the German Compactors market held the largest market share, and the U.K Compactors market was the fastest growing market in the European region
The Asia Pacific Compactors market is expected to register significant growth from 2023 to 2032. This is a result of the rapid infrastructure development taking place in developing nations like India, China, and Indonesia. Many engineering and building projects are now in progress in these emerging nations. Governmental organizations are putting their attention on organized facilities in the fields of healthcare, transportation, and tourism. Moreover, China’s Compactors market held the largest market share, and the Indian Compactors market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Compactors market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Compactors industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Compactors industry to benefit clients and increase the market sector. In recent years, the Compactors industry has offered some of the most significant advantages to medicine. Major players in the Compactors market, including Terra Compactor Wheel Corporation, Caterpillar Inc., BOMAG GmbH, Marcel Equipment Limited, HJ Industries, Humdinger Equipment Ltd., G.G. Compactors Limited, Hamm AG, Sakai America, and MBW Incorporated, are attempting to increase market demand by investing in research and development operations.
Caterpillar Inc. is a manufacturer of machinery for transportation, energy, and construction. Among the things it designs, makes, markets, and sells are diesel and natural gas engines, industrial gas turbines, forestry equipment, diesel-electric locomotives, and construction and mining equipment. The company's product line includes reciprocating engines, integrated systems, draglines, backhoe loaders, compactors, and asphalt pavers, among many other things. Additionally, Caterpillar offers retail and wholesale financing alternatives for Caterpillar equipment to customers and dealers. Through its subsidiaries and dealers, the company markets and sells its products in a number of countries throughout North and South America, Asia-Pacific, Africa, the Middle East, and Europe. Caterpillar's corporate office is located in Deerfield, Illinois, in the United States. The Cat CW16 pneumatic compactor, a nine-wheel model with a compaction width of 1754mm that is designed for usage on granular materials, was launched by Caterpillar in July 2018.
Husqvarna AB (Husqvarna), a producer of industrial machinery, makes outdoor power equipment for forestry, gardening, and construction. There are both wheeled and powered products. Husqvarna furthermore offers watering cans, hand tools, accessories, and building supplies in addition to stationary things. Some of the company's further products include robotic lawnmowers, riders, garden tractors, zero-turn mowers, chainsaws, trimmers, clearing saws, and blowers. Additionally available are hedge trimmers, water hoses, couplings, sprinklers, saw chains, safety equipment, power cutters, floor saws, drilling equipment, and wall-wire saws. The US, Belgium, Brazil, China, Japan, Germany, the Czech Republic, and Poland are among the countries where the company offers its items. Stockholm, Sweden is home to Husqvarna's corporate headquarters. In order to strengthen its position in the concrete surfaces and floors market, the construction division of the Husqvarna Group entered into a contract with Atlas Copco AB in December 2017 to purchase the light compaction and concrete equipment company.
February 2022:Â To assist a daily garbage collection and disposal system, the New Town Kolkata Development Authority has planned to build 15 compactor stations at various sites around New Town. An estimated Rs 4.1 crore will be spent on the compactor stations' construction.
September 2021:Â Wasteware, a cloud technology solutions suite for the trash and recycling business, was recently launched by Wastequip, the top North American producer of waste-handling equipment. Wasteware is the digital partner with added value for goods, tools, and services.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.9 Billion |
| Market Size 2023 | USD 3.0 Billion |
| Market Size 2032 | USD 4.2 Billion |
| Compound Annual Growth Rate (CAGR) | 4.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Terra Compactor Wheel Corporation, Caterpillar Inc., BOMAG GmbH, Marcel Equipment Limited, HJ Industries, Humdinger Equipment Ltd., G.G. Compactors Limited, Hamm AG, Sakai America, and MBW Incorporated |
| Key Market Opportunities | Rising demand for portable compactors in residential trash management |
| Key Market Dynamics | The availability of a wide range of products and the high demand in end-use industries |
Compactors Market Highlights:
Frequently Asked Questions (FAQ) :
The Compactors market size was valued at USD 2.9 Billion in 2022.
The Compactors market is projected to grow at a CAGR of 4.30% during the forecast period, 2023-2032.
North America had the largest share in the Compactors market
The key players in the Compactors market are Terra Compactor Wheel Corporation, Caterpillar Inc., BOMAG GmbH, Marcel Equipment Limited, HJ Industries, Humdinger Equipment Ltd., G.G. Compactors Limited, Hamm AG, Sakai America, and MBW Incorporated
The Trash Compactors Type dominated the Compactors market in 2022.
The Residential End User had the largest share in the Compactors market.
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