Increasing Need for Effective Waste Management and Soil Health Maintenance to Encourage Compost Turning Machine Market Growth
The study on the Compost Turning Machine covers a comprehensive assessment of market trends, volume and value (US$ Mn) projections, industry developments, dynamics (drivers, restraints, trends & opportunities) and competition landscape pertaining to the global Compost Turning Machine market for the study period 2018 to 2028.
Compost turning machines are widely employed in construction, agriculture, and manufacturing industries. The global compost turning machine market is projected to reach around US$ 150 million towards the end of the forecast period, at an estimated CAGR of 3.6% during 2018-2028.
Waste Management Has Become the Political & Global Priority
In the circular economy, resource management with the help of waste management has become a matter of great importance. Thus, waste management is much more than merely desirable. With the aim of managing the waste generated, particularly in the urban areas, numerous government organizations are collaborating to ensure proper sanitation and waste management of all types of waste being generated by and in the society, such as food waste management, medical waste management etc..
For instance, the ‘One UN Climate Change Learning Partnership’ focuses on spreading awareness regarding the importance of managing e-waste. This, in turn, is expected to increase the volume sales of waste management equipment, such as compost turning machines, during the forecast period.
Increasing Awareness about the Importance of Soil Health Management to Pave the Way for Growth of Compost Turning Machine Market
Educating people about the seriousness of soil health is the key to expanding the market of compost turning machines. The United Nations declared 2015 as the ‘International Year of Soil’. Hence, initiatives and projects that focus on soil health are expected to upsurge the demand for compost turning machines during the forecast period.
Further, though compost turning machines are pretty popular in developed and developing economies, they need to be commercialized in rest of the countries, particularly, the elevating face type.
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Elevating Face Compost Turning Machines to Gain Significant Traction
Amongst all product types, the elevating face segment is estimated to be a noteworthy segment in the compost turning machine market. The Elevating face type compost turning machine is an emerging technology in the compost turning machine market as it introduces a huge amount of oxygen into the compost.
The elevating face segment is thus anticipated to grow at a high CAGR during the projected period as compared to its counterparts. However, in the current market scenario, both in terms of value and volume, the drum type compost turning machine is estimated to remain the dominant type in the compost turning machine market over the forecast period.
North America & Europe Will Remain High-Volume High-Value Regions in Compost Turning Machine Market
Some of the major compost sites in the world are located in Western Europe and North America. The regional municipal corporations such as MSWM (Municipal of Solid Waste Management) thus aim to recycle and manage the generated waste as much as possible. The report attributes such aggressive government standards to drive growth of North America’s compost turning machine market.
Furthermore, increasing adoption of biogas generated from compost in developing economies of South East Asia is expected to create significant opportunities in the global compost turning machine market. Cumulatively, China and Japan are expected to grow and become 1.4X, in terms of volume, in the global compost turning machine market.
Middle East and Africa is estimated to exhibit medium to high growth in the global compost turning machine market during the stipulated period. During the same period, other Asian countries such as India and Australia are expected to emerge as growing countries in the compost turning machine market. The prime reason behind the growing demand for compost turning machines in India is the strong governmental initiatives and ongoing projects, one of which is the ‘Swachh Bharat Mission’.
The global compost turning machine market is fairly consolidated. Organized players account for one-fourth of the global compost turning machine market share, even though there are numerous small players creating a competitive environment for well-established players.
Key Questions Answered in Compost Turning Machine Market Report
- How has the compost turning machine market evolved over the past five years?
- What shape is the compost turning machine market expected to take in terms of volume and value during the study period?
- What are the prevailing market dynamics in the compost turning machine market?
- What are some of the competition developments and trends in the compost turning machine market?
- What are the underlying macro-economic and industry factors impacting the growth of the compost turning machine market?
- Which are the key challenges, opportunities and improvement factors for compost turning machine market players?
- What are the market positioning and key strategies of key manufacturers as per the compost turning machine market taxonomy?
- How is the competition structured in the compost turning machine market at present and how has it evolved over the past few years?
By Product Type
- Drum (Compost Turning Machine)
- Elevating Face (Compost Turning Machine)
By Output Capacity
- < 500 cubic meters per hour
- 500 – 1000 cubic meter per hour
- >1000 cubic meter per hour
By End Use
- Construction Industry (Compost Turning Machine)
- Agriculture Industry (Compost Turning Machine)
- Manufacturing Industry (Compost Turning Machine)
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia & Pacific
- Middle East and Africa