The Global Compactors Market is Poised to Reflect 3% CAGR by 2027
As per Market Research Future (MRFR), the global compactors market is estimated
to grow at a CAGR of 3% from 2016 to 2022 (forecast period). The report
summarizes the main factors that are likely to boost or impede the growth of
the global compactors market. The study also explains the possible effect of
COVID-19 on the development of the global compactors market.
A compactor is a machine that compacts the layers of different materials
and decreases the thickness of the respective layer by minimizing the air
voids.
Market Dynamics
Accelerated growth in infrastructure and construction activities across
the globe are key factors driving the development of the compactors industry.
The introduction of strict regulatory policies also increases the demand for
this industry. On the flip side, the high cost of manufacturing compactors may
hinder the growth of the global market for compactors.
Economic growth and increasing living standards in the Asia Pacific
region have resulted in an increase in the amount and complexity of waste
generated. Countries in this area need compactors to reduce the amount of
waste. China and India, which are the top two populated nations, are creating
large quantities of waste. Significant quantities of waste are collected by
municipalities for which compactors are used. The residential sector produces large
quantities of waste and requires tremendous effort to segregate, compress, and
send it for recycling. The increase in the number of residences will increase
the amount of waste generated. Industrial waste comprises paper, packaging
materials, food processing waste, oils, solvents, resins, paints and sludge,
glass, ceramics, stones, metals, and plastics.
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Industrial diversification and expansion of health care facilities have
added large amounts of industrial hazardous waste and biomedical waste into the
waste stream with potentially significant environmental and human health
implications. Some of the waste materials can be recycled, and others can be
transported to landfills. Compactors in the agricultural sector have a vital
role to play in the collection of hay from farms. Compactors for agricultural
purposes are also identified as a baler, which helps in the collection and
compression of hay and packages for easy transport and storage.
There are many benefits of using a compactor that will help the market
for compactors to expand. Compactors minimize the size of the waste material
and thereby minimize its volume and can be easily transported and stored.
Compactors aid in saving to accommodate more waste to be dumped without taking
any extra space. The contraction of the volume offers environmental advantages
and avoids the release of harmful gases and chemicals. Proper handling of waste
materials helps minimize environmental contamination and protects soil and
water from emissions.
Market Segmentation
The global compactors market has been
segmented into type and end-user.
By type, the global compactors market has been segmented into landfill
compactors, trash compactors, vibratory compactors, and others.
By the end-user, the global compactors market has been segmented into
residential, commercial, industrial, and others.
Regional Analysis
Regionally, the global compactors market has been segmented into Asia
Pacific, North America, Europe, and the rest of the world.
The North American area dominates the global market for compactors. The
recovery of the residential housing market in this area is a significant factor
that boosts consumer demand in the North American region. The Asia Pacific is
projected to develop at the fastest pace during the forecast period. Rapid
growth in urbanization and industrialization in the Asia Pacific region drives
market demand.
Key Players
Notable players in the global compactors market are Terra Compactor
Wheel Corporation (U.S.), Marcel Equipment Limited (Canada), Caterpillar Inc.
(U.S.), BOMAG GmbH (Germany), HJ Industries (U.S), Humdinger Equipment Ltd.
(U.S), Sakai America (U.S.), G.G. Compactors Limited. (U.K.), Hamm AG
(Germany), and MBW Incorporated (U.S).
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Key Questions
Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/
Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this
market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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