Global Trash Compactor Market Set to Generate Almost USD 52 Million by 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global trash compactor market to post a CAGR of more than 2% by 2020, according to their latest report.

The trash compactor market is mainly driven by increased awareness about trash compactors and the attempt to reduce the volume of household trash worldwide.

Technavio’s lead research analyst, Abhay Sinha says, “Globally, 1.3 billion tons of solid waste is generated from cities every year. This figure is likely to multiply over the years due to increased urbanization and economic development. Moreover, waste management has become a prime concern for governments because of the problems related to garbage disposal and an expected likelihood of disease outbreak. This necessitates the need for effective household appliances that facilitate waste disposal.”

The research study by Technavio segments the trash compactor market based on geography, which include Europe, North America, and ROW (APAC, Latin America, and MEA). North America is the biggest adopter of trash compactors with a market share of 76%. As consumers are averse to paying private contractors to remove their trash and being charged by volume, the popularity of trash compactors has risen in this region.

Technavio’s market research analysts have identified the following three market growth factors:

  • Increased cost of waste disposal
  • Improvement of housing market
  • Demand for odor control systems

Increased cost of waste disposal

Technavio’s latest report states that increased cost of waste disposal is one of the major drivers for the overall trash compactor market. Consumers in developed countries such as the US have to pay for the landfill, or for the hauler. Large number of garbage collection services charge users on the basis of volume of trash. The reduction of garbage bags with these appliances helps in reducing the cost of garbage collection services. In cases where users are transporting garbage to the landfill themselves, transport costs scale down with reduced bulk.

Abhay Sinha, Technavio’s lead research analyst says, “Waste management boards of several cities of the US have already adopted or are considering the pay-as-you-throw program. According to this program, a fee should be paid whenever garbage is dumped in a landfill.”

Low landfill contribution

The research study reports that even though several cities worldwide have designated landfills to store garbage, the large volumes of waste are beginning to render the landfills short of space. “Moreover, since burning garbage is not a preferred waste disposal method due to the emissions, pressure on landfills has increased,” elaborates Abhay Sinha, Technavio’s lead research analyst.

However, some cities have limited local disposal options, and are forced to transfer their landfill waste to other cities or other states altogether. Increasing environmental concerns have also led consumers to consider waste management solutions that reduce their impact on the environment. Thus, with trash compactors reducing the volume of garbage, consumers are increasingly adopting this technology to minimize their contribution to landfill capacity, thereby leading to the overall market growth.

Demand for odor control systems

The latest Technavio’s report also states that accumulation garbage in a compactor, as it stores the trash bag for a longer time, causes unwanted odors that create an unpleasant atmosphere in the house. This had largely restrained demand in the market. Vendors have thus begun introducing odor-control systems in high-end trash compactor models.

Technavio’s lead research analyst Abhay Sinha says,”Broan has introduced the Broan-NuTone 15TCOD odor control disc for trash compactors, which is an odor control and neutralizing system that can last for six months. The introduction of such products is expected to drive replacement demand and attract new customers in the market.”

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global trash compactor market to post a CAGR of more than 2% by 2020, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com