PUBLISHER: Market Research Future | PRODUCT CODE: 1660625
PUBLISHER: Market Research Future | PRODUCT CODE: 1660625
Report on US Canada & Europe Compactors Market Research Information by Size (Small, Medium, and Large), by Type (Stationary Compactors, Self-Contained Compactors, Pre-Crusher Compactors and Others), by Application (Commercial Sector and Multi-Family Residential Sector), by End User (Municipalities, Commercial Businesses, Property Management Companies, Waste Management Companies, and Others) Forecast 2032
The Compactors Market in the United States, Canada, and Europe is expected to develop significantly, with a Compound Annual Growth Rate (CAGR) of 5.12% over the projected period. The market's estimated value in 2023 was USD 3,165.41 million, and it is expected to reach USD 4,894.10 million by the conclusion of the forecast period, which runs from 2024 to 2032.
A number of factors contribute to market growth, including increased urbanization, strict waste management legislation, and a greater emphasis on sustainability. As cities and populations develop, so does the volume of waste generated, necessitating effective waste management systems. Compactors, which compress garbage to minimize its volume, are critical in controlling the rapidly increasing waste output in the residential, commercial, and industrial sectors.
In the United States, the market is distinguished by significant investments in waste management infrastructure. Government measures to reduce garbage use and increase recycling rates are having a substantial impact on the market for compactors. The presence of large market participants, combined with rising environmental awareness among consumers and businesses, is driving innovation in compactor technology. Smart compactors with Internet of Things (IoT) capabilities for real-time monitoring and operating efficiency are gaining popularity, boosting market growth even further.
Europe, on the other hand, is propelled by a robust regulatory structure that prioritizes waste minimization and recycling. The European Union's dedication to the circular economy is a key driver of the compactor market, particularly in Germany, the United Kingdom, and Italy. These countries have well-established waste management systems and cutting-edge recycling technology, making them significant contributors to regional market growth. The need for compactors in Europe is also fueled by the region's emphasis on sustainability and lowering carbon footprints, which is resulting in the development of energy-efficient and environmentally friendly compactors.
Marketing Segmentation
Stationary compactors dominate the market due to their great efficiency and capacity, particularly in industrial applications.
The Compactors Market in the United States, Canada, and Europe is divided into three size categories: small, medium, and large.
The US, Canada, and Europe Compactors Market is divided into four types: stationary compactors, self-contained compactors, pre-crusher compactors, and others.
The Compactors Market in the United States, Canada, and Europe is divided into two segments based on application: commercial and multifamily residential.
The Commercial Sector is further divided into Retail Stores, Shopping Malls, Restaurants, Hotels, and Others. The Multi-Family Residential Sector is divided into Apartment Complexes, Condominiums, Housing Developments, and Other.
The Market is divided into five end-user segments: municipalities, commercial businesses, property management companies, waste management companies, and others.
Caterpillar Inc., Volvo Construction Equipment, Ammann Group, Terex Corporation, Sakai America, WM Intellectual Property Holdings, L.L.C., Republic Services, Inc., Waste Connections, Inc., and BOMAG are the market leaders in the United States, Canada, and Europe for compactors.