The global Compositing Equipment Market is anticipated at USD 120 million in 2022. Demand is likely to remain high for compositing equipment during the assessment period. This is due to the increased application various industries and garnering USD 177 million in 2033, recording a CAGR of 3.6% from 2023 to 2033. The market is likely to secure USD 124.3 million in 2023.
| Data Points | Key Statistics |
|---|---|
| Compositing Equipment Market Size Value in 2023 | USD 124.3 million |
| Compositing Equipment Market Forecast Value in 2033 | USD 177 million |
| Global Growth Rate | 3.6% CAGR |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 2.4% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 3.6% |
The compositing equipment market is expected to grow at a 3.6% CAGR between 2023 and 2033, up from the 2.4% CAGR recorded during 2018-2022, predicts Future Market Insights (FMI).
Compositing equipment is used to form fertilizer and rich soil conditioner (humus) which is generated through the biological reduction of organic materials such as animal waste, municipal sludge, animal carcasses, and food by-products. The organic compositing equipment uses organic materials which are placed in an environment with correct quantities of oxygen, nitrogen, and water.
There are various types of compositing equipment used to form compost for plant nutrition and commercial purpose. The compositing equipment is designed and built to fulfill the industry specifications. Several small-scale compositing equipment can be used for various applications such as golf courses, universities, hospitals, restaurants, shopping malls, etc. due to its fast processing along with scaled-down size.
Factors such as rapidly rising industrialization across the globe, and the high demand for compositing equipment for industrial applications such as high fiber compositing, tunnel compositing, etc., are expected to augment the compositing equipment market during the forecast period. The major factor that is expected to hinder market growth includes the high maintenance cost of industrial compositing equipment over the analysis period.
The Growing Industrialization to Drive the Market Growth
The growing agriculture sector due to high investment by governments in developing countries such as China, India, and Brazil is one of the major factors that is expected to accelerate the growth of the compositing equipment market during the forecast period. The other macroeconomic factors include emerging economies such as Brazil, China & India, rising employment rates, and changing the lifestyle of consumers driving the compositing equipment market across the globe.
The global compositing equipment market is also driven by a rapidly growing manufacturing industry, owing to the high demand for compositing equipment across the globe. Significant demand for compositing equipment for residential purposes is also one of the major driving factors which help to grow the compositing equipment market across the globe, owing to its high usage for various applications such as compositing toilets, hot container compositing, sheet compositing, and trench compositing.
The other factors that are expected to boost the compositing equipment market over the analysis period include rapidly rising industrialization across the globe, and the high demand for compositing equipment for industrial applications such as high-fibre compositing, tunnel compositing, etc.
High Maintenance Cost May Hamper the Market Growth
Various regulations related to the export of compositing equipment are one of the major factors that are expected to impede the growth of the compositing equipment market during the forecast period.
The other major factor that is expected to hinder market growth includes the high maintenance cost of industrial compositing equipment over the analysis period.
Growing Awareness Among Consumers and Businesses About the Benefits of Compositing Has Also Contributed to The Market's Expansion in the Region
In terms of regional platforms, North America holds the largest market share in Compositing Equipment market. The region is expected to account for over 31.5% share in 2023.
The compositing equipment market in North America is expected to witness promising growth, attributed to its high demand for agriculture along with industrial purposes in this region.
The rise in organic waste generation, particularly from the food and beverage industry, has driven the adoption of industrial compositing equipment to divert waste from landfills. The United States and Canada, have witnessed significant growth in the compositing equipment market due to stringent waste management regulations and a strong focus on sustainability.
The Rising Adopting of Sustainable Waste Management Practices in The Region to Boost the Market Demand
According to Future Market Insights, Europe is expected to provide immense growth opportunities for compositing equipment and is expected to account for 27.5 market shares in 2023.
Western Europe is predicted to capture a significant share of the global compositing equipment market during the analysis period, attributed to the high production of compositing equipment along with its high demand for industrial purposes in this region.
Several European countries have established ambitious waste diversion targets, leading to increased demand for compositing equipment to process organic waste. Incentives and support from governments and local authorities have encouraged industries and municipalities to invest in compositing infrastructure and equipment.
Compost Containers Are Exhibiting High Demand from the Compositing Equipment
By product type, the compost containers segment is expected to remain dominant over the forecast period. Easy availability of compost containers is available in different sizes to accommodate various compositing volumes, ranging from small-scale household compositing to larger compositing operations. Some compost containers are designed with multiple chambers, allowing users to compost different batches simultaneously or to separate compost in different stages of decomposition.
Industrial Compositing Equipment Will Showcase Exponential Demand
Based on end-use, the industrial compositing equipment segment is projected to gain momentum over the forecast period. Stringent environmental regulations and waste management policies imposed by governments and regulatory bodies require industries to implement sustainable waste management practices. Compositing is considered an eco-friendly method for organic waste diversion, leading to increased demand for industrial compositing equipment.
There are many prominent market players in the compositing equipment market, who are working hand-in-hand to provide the best-in-class compositing equipment for enhancing the global compositing arena. There are many global start-ups in the compositing equipment market, that are stepping forward in matching the requirements of the compositing equipment domain.
Global Startups of Compositing Equipment Market:
Some of the key participants present in the global compositing equipment market include -
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as Midwest Biosystems, Inc., Compost systems, and Kollvik Advanced Compositing Solutions account for a considerable market size, several regional level players are also operating across key growth regions, particularly in North America.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.6% from 2023 to 2033 |
| Market Value in 2023 | USD 134.6 million |
| Market Value in 2033 | USD 177 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product type, End-user, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Midwest Biosystems, Inc.; Compost Systems; Kollvik Advanced Compositing Solutions; Green Mountain Technologies; BDP Industries; Covestro; Blackhawk Composites; Advanced Composite Tooling; Kirkco Corporation; Danner; Ershings, Inc.; Wet Technologies; Advanced Process Technology, Inc.; BriskHeat Corporation; Applied Heat Composite Repair Systems Inc. |
| Customization of Report |
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As of 2023, the market for compositing equipment is expected to be valued at USD 124.3 million, as per FMI
By 2033, the market value of compositing equipment is expected to reach USD 177 million
From 2023 to 2033, compositing equipment sales are expected to flourish at a CAGR of 3.6%
Based on compost type, the compost container segment is expected to account for a CAGR of 3.5% during the forecast period.
Based on the end-use, the industrial compositing segment dominates the market with a CAGR of 3.4% during the forecast period.
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Compositing Equipment Market
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