Global Composting Equipment Market To Expand At An 3.4% Value CAGR By 2032- FMI
The global composting equipment market is anticipated to be valued at US$ 120.0 Million in 2022, forecast to grow at a CAGR of 3.4% to be valued at US$ 168.1 Million from 2022 to 2032. Growth is attributed to the changing the lifestyle of consumers.
Composting equipment is used to create fertiliser and rich soil conditioner (humus) from organic materials such as animal waste, municipal sludge, animal carcasses, and food by-products. Organic composting equipment makes use of organic materials that are placed in an environment with adequate amounts of oxygen, nitrogen, and water.
Composting equipment of various types is used to create compost for plant nutrition and commercial purposes. Composting equipment is designed and built to meet industry standards. Due to their fast processing and small size, a variety of small-scale composting equipment can be used for a variety of applications such as golf courses, universities, hospitals, restaurants, shopping malls, and so on.
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One of the major factors expected to accelerate the growth of the composting equipment market during the forecast period is the growing agriculture sector as a result of government investment in developing countries such as China, India, and Brazil. Other macroeconomic factors driving the composting equipment market globally include emerging economies such as Brazil, China, and India, rising employment rates, and changing consumer lifestyles.
Moreover, the global composting equipment market is also driven by rapidly growing manufacturing industry, owing to a high demand of composting equipment across the globe. In addition, significant demand for the composting equipment for residential purpose is also one of the major driving factors which help to grow the composting equipment market across.
Other factors expected to boost the composting equipment market during the analysis period include rapidly rising industrialization around the world, high demand for composting equipment for industrial applications such as high fibre composting, tunnel composting, and so on.
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Some of the key participants present in the global Composting Equipment market:
- Midwest Biosystems, Inc.
- Compost Systems
- Kollvik Advanced Composting Solutions
- Green Mountain Technologies
- BDP Industries
There are many prominent market players in the composting equipment market, who are working hand-in-hand to provide the best-in-class Composting Equipment for enhancing the global composting arena. However, there are many global start-ups in the composting equipment market, who are stepping forward in matching the requirements of the composting equipment domain.