Market Size of Global Refuse Compactor Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Refuse Compactor Market Analysis
Global Refuse Compactor Market is expected to grow at a CAGR more than 4% during the forecast period of 2022-2027.
Since the COVID-19 outbreak, nations have faced significant challenges with the generation, collection, treatment, and disposal of waste. One of the direct consequences of the pandemic has been a 40 percent increase in the global production of biomedical waste. The Central CPCB has also developed a COVID-19 Biomedical Waste Management app Covid19BWM to track biomedical waste management in the country.
Awareness about increased garbage collection services coupled with the introduction of programs such as Pay as you, Throw by waste management services across several cities is also anticipated to increase the demand for refuse compactors. The world generates approx. 2.01 billion tons of municipal solid waste annually. Out of which at least 33% that is not properly managed in an environmentally safe manner. Additionally, rising concerns related to limited spaces in landfills coupled with avoidance of burning waste in landfills due to harmful emission of gases are anticipated to increase the demand for refuse compactors. A key driver for the growth of the refuse compactor market size is the rise in the world's population and the subsequent increase in waste generation.
In recent years, waste management has been the focus of multiple central and state government initiatives. For instance, Swachh Bharat Mission (SBM) India's national cleanliness program promotes monitoring and implementation of municipal solid waste management plans by urban local bodies.
