A new research report of Future Market Insights (FMI) tracks global compost turning machine market performance over 2022 to 2028 and analyzes the demand patterns of compost turning machine on the basis of various attributes such as product type, output capacity, end-use industries, and region.
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The global compost turning machine market is projected to reach a valuation of US$ 120.3 Mn in 2022 while experiencing Y-o-Y growth of 3.3%. The market for compost turning machines is expected to grow at a CAGR of 3.6% from 2022 to 2028, generating sales revenue of US$ 148.5 Mn by that time.
Over 3,200 compost turning machines were sold globally, in 2021, which is likely to rise at a moderate pace in 2022 and ahead. The compost turning machine market is foreseen to gather momentum in the near future, primarily driven by the increasing severity of waste management and soil quality management concerns.
Drum type compost turner machine is likely to maintain a dominating market value share through 2028, as indicated by the report.
However, elevating face type compost turner machine that currently accounts for more than a third of the total market value, is projected to gain significant traction in the years to come.
The report has attributed this growth to manufacturers’ focus on developing new technologies for compost turning machines as per the demand from different countries.
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Increasing Concern about Food Waste Management & Recycling Pushing Demand
Increasing frequency of environmental changes is compelling consumers to move towards food waste recycling machines. Moreover, there has been an increasing level of awareness about food wastage among consumers, which is highlighting the importance of food waste recycling machines.
This is one of the primary boosters for the revenue growth of compost turning machine market. According to research, the household sector accounts for over half of the food wasted, particularly in developed countries.
Such factors are more likely to elevate the demand for compost turning machines throughout the forecast period.
Agriculture Industry Will Remain Significant End-use Segment in Compost Turning Machine Market
The agricultural end use of compost turning machine is expected to be a highly influential segment in compost turning machine market, according to the report.
FMI has attributed the maximum market value share of agricultural industry in compost turning machine market to the growing demand for compost for the maintenance of organic carbon content of soil, eventually improving the uptake of nutrients by soil.
Also, these machines reduce the use of fuel consuming land preparation processes owing to improvement in soil health, further advocating the adoption of compost turning machines.
Developed Regional Markets for Compost Turning Machine to Hold Noteworthy Revenue Shares
Agriculture industry in North America and Western Europe is heavily mechanized and commercialized. While agriculture is a major industry in both Canada and the US, the former has been one of the largest agricultural exporters and producers around the world. Moreover, highly developed agricultural practices in North America will provide endless opportunities to compost turner machine manufacturers during the forecast period.
Compost turning machine market in fast progressing Asian countries such as India and China is also registering significant growth owing to stringent government regulations that are likely to promote the use of these equipment in food manufacturing plants.
Global Compost Turning Machine Market: Competitive Landscape
Some of the players profiled in the global compost turning machine market report include Terex Corporation, Vermeer Corporation, Eaggersman AG, Scarab International, Midwest Bio-Systems, Inc., Brown Bear Corporation, EarthSaver Equipment Inc., Komptech Group, Frontier Industrial Corporation, Alliance Fertilizer Machinery, HCL Machine Works, and Blue Group among others. Manufacturers are likely to maintain the focus on product technology innovations for sustained market value shares in the compost turning machine landscape.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 6-years.
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