Global Compactors Market Research Report - Forecast to 2030

Compactors Market Information Report by Type (Landfill Compactors, Trash Compactors, Vibratory Plate Compactors and others), By End User (Residential, Commercial, Industrial and others) and By Region - Global Forecast to 2030

ID: MRFR/CO/2024-HCR | 111 Pages | Published By Snehal Singh on March 2023         

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Compactors Market

Compactors Market is projected to be worth USD 3,645.40 million by 2030, registering a CAGR of 4.30% during the forecast period (2022-2030).

Segmentation
By Type Landfill Compactors Trash Compactors Vibratory Plate Compactors Others
By End User Residential Commercial Industrial Others
Key Players
Companies Profiled   Terra Compactor Wheel Corporation   Caterpillar Inc. (U.S.)   BOMAG GmbH (Germany)   Marcel Equipment Limited   HJ Industries (U.S)   Humdinger Equipment Ltd.   G.G. Compactors Limited   Hamm AG (Germany)   Sakai America (U.S.)   MBW Incorporated (U.S)
Drivers
Market Driving Forces   The growing infrastructure development in emerging regions
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Compactors Market Overview


The compactors market is expected to gain a market value of USD 3,645.40 Million by 2030 at a CAGR of 4.30% over the forecast period of 2022-2030.


A method or device that reduces the size of materials is called a compactor. To turn raw materials into powder, a variety of industries use compactors. Sheets, flakes, and panels of materials, including stone, wood, cement, plastic, and others, are the most typical raw material forms compacted in a compactor.


The availability of a wide range of products and the high demand in end-use industries are the main factors propelling the growth of the compactors market. Many industries use compactors, including chemical, automotive, pharmaceutical, and paints. Additionally, restaurants, hotels, and the public sector favor compactors for waste management. Compactors are a low-cost method used by municipalities to compress landfill debris. According to EPA, Municipal solid waste (MSW) generation in 2018 was 292.4 million tons, around 23.7 million tons higher than in 2017 across the United States. As a result, the growing MSW is expected to boost the demand for compactors. The method also enables waste processing facilities to recycle materials at higher rates. Increasing food waste management's significance is expected to drive up compacter demand. However, initial high capital investment is a significant restraint for the market.

COVID-19 Analysis


The COVID-19 pandemic has had an impact on markets for compactors all around the world. The production and service sectors have both been impacted by the nationwide lockdowns. Market participants are now required to permit employees to work remotely due to the limits put in place by the government. However, fewer human contacts resulting from the use of automated technology in production facilities helped the market for compactors expand globally. With improved productivity growth, the utilization of automated equipment and cutting-edge technologies has enabled business continuity during the pandemic.


Competitive landscape


The world's leading compactor manufacturers are substantially investing in new technology, innovative product development, and online product promotion. Furthermore, firms are focusing on strategic acquisitions and alliances to effectively expand plant operations in unexplored markets. Companies actively follow global trends in the biogas sector in order to build a presence in the new compactor industry.


Major Key Players



  •         Terra Compactor Wheel Corporation (U.S.)

  •         Caterpillar Inc., (U.S.)

  •         BOMAG GmbH (Germany)

  •         Marcel Equipment Limited (Canada)

  •         HJ Industries (U.S)

  •         Humdinger Equipment Ltd. (U.S)

  •         G.G. Compactors Limited. (the U.K.)

  •         Hamm AG (Germany)

  •         Sakai America, (U.S.)

  •         MBW Incorporated (U.S)


Market Dynamic



  •         Drivers


The worldwide compactors market is being driven by high demand in end-use industries and the availability of a varied product range. Compactors are employed in a variety of sectors such as pharmaceuticals, automobiles, chemicals, and paints. Furthermore, compactors are favored in trash management by hotels, restaurants, and municipalities.


Compactors are used by municipalities to compress landfill trash at a cheap cost. Furthermore, the technology enables waste processing companies to recycle at a higher rate. The growing relevance of food waste management in industrial waste management is expected to drive demand for compactor market growth over the forecast period.



  •         Opportunities


The key opportunity in the worldwide market is the rising demand for portable compactors in residential trash management. Rising environmental consciousness among the millennial generation is influencing the home composting movement and, as a result, fuelling demand for waste compactors. In addition, small-scale biogas production units are increasingly being built in residential flats in order to recycle kitchen trash.


The hotel industry's increased emphasis on trash management and recycling is expected to drive demand for compactors over the projected period. Hospitals, restaurants, hotels, and airports are important commercial end-users. Commercial trash compactors are generally intended for the disposal of ordinary black bag garbage, wet food waste, broken pallets, plastic wrapping, cardboards, disposable plates and cups, and plastic water bottles.



  •         Restraints


Compactors have a few limitations that might impact demand for the item. Unsanitary conditions might result from poor management of reuse destinations. Toxin traces in abandoned dumpsters may saturate subterranean water sources or poison the air. Methane gas created during reuse, if allowed to escape, can contribute to global warming and ozone depletion. These factors are anticipated to limit the growth of the compactors market during the forecast period.



  •         Challenges


The high cost of producing compactors may be considered a major challenge for the key players of the market and ultimately creates hurdles in the expansion of the global compactor market.


Cumulative Growth Analysis


Large volumes of industrial hazardous waste and biological waste have been introduced to the waste stream as a result of industrial diversification and the growth of health care facilities, with potentially serious environmental and human health consequences. Some waste items can be recycled, while others must be disposed of in landfills. Compactors play an important part in the collecting of hay from fields in the agricultural industry. Compactors for agricultural use are also known as balers, and they aid in the gathering and compression of hay and bundles for simple transport and storage.


There are several advantages to utilizing a compactor, which will aid in the growth of the compactor industry. Compactors reduce the size of waste material, reducing its volume and making it easier to transport and store. Compactors help to save space by allowing more trash to be deposited without taking up more room. The reduction in volume benefits the environment by preventing the discharge of hazardous gases and chemicals. Proper garbage disposal helps to reduce environmental pollution and protects land and water from pollutants.


Value Chain Analysis


According to the reports, The worldwide compactors market has been divided into two segments: type and end-user. The worldwide compactors market has been divided into four types: landfill compactors, garbage compactors, vibratory compactors, and others. The worldwide compactors market has been divided by end-user into residential, commercial, industrial, and others.


Segmentation Overview


The market is segmented on the basis of type, end-user, and region. The global compactors market trends are expected to witness decent growth during the forecast period.


By Application


Based on the application, the market is segmented into landfill compactors, garbage compactors, vibratory compactors, and others.


By end-users


Based on the propulsion types, the market is segmented into residential, commercial, industrial, and others.


Regional Analysis


According to ot the reports, The worldwide compactors market is divided into four regions: South America (SA), North America (NA), Europe (EU), the Middle East and Africa (MEA), and Asia Pacific (APAC). The country-level segmentation of the North American market contains forecasts and analyses for the United States, Canada, and the Rest of North America. The compactors market in the United Kingdom, Germany, France, and the rest of Europe is covered in the country-level analysis and forecast of the European market. The Asia Pacific market research and forecast include key nations in the area such as India, China, Japan, and the Rest of Asia Pacific. GCC nations, South Africa, and the rest of the Middle East & Africa are included in the Middle East & Africa country-level analysis and forecast for the compactors market share. The compactors market in South America is divided into two segments: Brazil and the rest of South America.


Strong demand for compactors in the Asia Pacific market is expected to be driven by strong demand in the industrial sector and ongoing awareness about residential trash management. In addition, a well-developed hotel sector in Singapore, Thailand, Malaysia, and India is projected to boost market penetration in the future years. Governments in rapidly industrializing nations such as India, China, and Japan are stepping up attempts to control industrial waste management. As a result, compactor manufacturers would have attractive possibilities over the projection period.


Report Overview


The following report comprises of –



  •         Market overview 

  •         Covid 19 Analysis

  •         Market Dynamic

  •         Drivers

  •         Opportunities

  •         Restraints 

  •         Challenges

  •         Cumulative Growth Analysis

  •         Value Chain Analysis

  •         Segmentation Overview 

  •         By Application 

  •         By End-Users

  •         Regional Analysis

  •         Competitive landscape


Recent developments



  • In August 2021, Wacker Neuson announced the launch of their new electric compactors.

  • In July 2021, Caterpillar announced the launch of their expanded 84-in (2134 mm) Cat GC Series, a new addition to the single drum vibratory soil compactor range.

  • In March 2021, WIRTGEN INDIA Pvt. Ltd., announced the launch of Hamm HD 99i and HD 109i Tandem Rollers in India.


Global Compactors Market, by Type



  • Stationery

  • Portable


Global Compactors Market, by Application



  •         Industrial

  •         Municipal

  •         Residential

  •         Commercial (Hotels, etc.)


Global Compactors Market, by Distribution Channel



  •         Direct Sale

  •         Indirect Sale  


Global Compactors Market, by Region



  • North America

    • the U.S.

    • Canada

    • Rest of North America



  • Europe

    • Germany

    • France

    • the U.K.

    • Rest of Europe



  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of Asia Pacific



  • Middle East & Africa

    • GCC

    • South Africa

    • Rest of Middle East & Africa



  • South America

    • Brazil

    • Rest of South America





Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 3645.4 Million
  CAGR   4.3% (2022 - 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Terra Compactor Wheel Corporation, Caterpillar, and HJ Industries
  Key Market Opportunities   Rapid growth in infrastructure and construction activities
  Key Market Drivers   The growing infrastructure development in emerging regions
 

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Frequently Asked Questions (FAQ) :

A compactor is a machine that compacts the layers of various materials and reduces the thickness of the respective layer by reducing the air voids.

Global compactors market is expected to exhibit a strong 4.30% CAGR over the forecast period till 2030.

The growing infrastructure development in emerging regions is likely to be a major driver for the compactors market.

North America dominates the global compactors market.

Leading players in the global compactors market include Terra Compactor Wheel Corporation, Caterpillar, and HJ Industries, among others.