This market research report includes a detailed segmentation of the global trash compactor market. It also outlines the market shares for key regions such as Europe, North America, and ROW. The key vendors analyzed in this report are Broan, GE, Krushr, and Whirlpool.
Technavio’s market research analysts estimate the global trash compactor market, to grow at a CAGR of around 2% between 2016 and 2020. The introduction of stringent regulatory policies and the increasing charges for the disposal of waste products in developed countries are expected to bolster market growth during the predicted period. North Americas dominates the global market for trash compactors, accounting for 76% of the overall market share. Much of this region’s growth can be attributed to the recovery of the residential housing sector.
The new market research report from Technavio provides a breakdown and analysis of the trash compactor segments by technology.
“The widespread usage of garbage collection services and the high adoption of the PAYT (pay-as-you-throw) program by waste management boards of several cities across the globe have increased the cost of waste disposal. This increasing cost of waste disposal is expected to augment the global demand for trash compactors during the forecast period,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The market has witnessed the evolution of trash compactors and modern models feature advancements in terms of cleanliness and odor removal. Modern trash compactors are coated with antimicrobials to inhibit the growth of odor-producing bacteria, and reduce the risk of potential health hazards. Additional features such as safety locks have been incorporated in high-end models to ensure safety, and prevent accidental operations.
The leading vendors in the global trash compactor market are Broan, GE, Krushr, and Whirlpool. The market is highly concentrated due to the presence of a limited number of players. Vendors in the market, particularly US-based companies, are reshoring their manufacturing activities as it helps them to reduce the total cost of manufacture. The major players in this market compete in terms of product performance, features, ease of use, brand value, service, price, and technology to gain a competitive edge over their rivals.
A more detailed analysis is available in the Technavio report, Global Trash Compactor Market 2016-2020.
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