A compactor is a machine that compacts material, such as garbage or biomass to reduce its size. The compacting procedure decreases the volume of waste and footprints, making removal of waste easier and more cost-effective. The most common raw materials compacted in the compactor include sheets, ribbons, flakes, cement, stone, plastic, and wood panels. Compactors can take many shapes & sizes accordingly to hydraulics. These machines significantly work based on pressure driven innovation and are very powerful & proficient with regards to hectic and time-consuming projects. The industries can categorize the use of compactors depending on the form of waste to be removed & dumped. In modern industry, a trash compactor is must for keeping up with the changing regulations regarding pollution & proper disposal of waste materials concerning environmental growth. Furthermore, compactors are preferred in waste management by hotels, restaurants, and the municipal sector. This increase in focus on waste management influences the demand for compactors in the residential, industrial, and commercial market.
COVID-19 Impact analysis
The COVID-19 pandemic has affected the globe, including the compactors market. The lockdowns across the countries has disrupted the production as well as the service sector. The restrictions imposed by government authorities have compelled market players to allow the employees to work remotely. However, the adoption of automated technologies in manufacturing facilities minimizes human interactions, which supports the growth of the global compactors market. The use of automatic machinery and advanced electronics has ensured business continuity during the pandemic with enhanced productive growth.
Top Impacting Factors
- Rise in infrastructure developments, high demand in the end-use industry, availability of diverse product ranges, and increase in the importance of waste management boost the compactors market.
- Unsanitary conditions lead to poor location management and difficulty of controlling fugitive emissions & conducting microbiological tests on the waste hinder the growth of the compactors market
- Rising demand for portable compactors in residential areas, demand for compactors in the commercial sector, and demand for advanced & automated compactors offer growth opportunities in the compactors market.
The Compactors Market Trends are as follows:
Increase in the Demand for Portable Compactors:
Portable compactors are agile, customizable, and offer more significant hygiene benefits for the working environment. Portable compactors are smaller and can deal with wet waste when compared to static compactors. Portable waste compactors help businesses reduce waste management costs while simultaneously protecting the employees & ensuring better compliance with waste regulations. Portable compactors are more efficient to use, owing to the environmental benefits such as less emission of CO2. Therefore, the demand for portable compactors in residential waste management increases the growth of the compactor market.
Key Benefits of the Report:
- This study presents the analytical depiction of the compactor market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the compactor market.
- The current market is quantitatively analyzed to highlight the growth scenario of the compactor market.
- The report provides a detailed compactor market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Compactor Market Research Report:
- Who are the leading market players active in the compactor market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the compactor market?
- What are the future projections that would help in taking further strategic steps?
Compactor Market Report Highlights
By Vehicle type
By End User
Key Market Players
Terra Compactor Wheel, MBW Incorporated, Marcel Equipment Limited, Hamm AG, Caterpillar Inc, Sakai America, G.G. Compactors Limited, BOMAG GmbH, Humdinger Equipment Limited., HJ Industries