Compactor Rental Market to Gain US$ 242.9 Million at a Growth Rate of 4.6% by 2033, States Fact.MR

By implementing waste management policies focused on reducing landfill waste and promoting recycling, France has fostered a favourable growth environment for the compactor rental market.

Rockville, July 20, 2023 (GLOBE NEWSWIRE) -- According to the latest study by Fact.MR, a provider of market research and competitive intelligence, the Compactor Rental Market is estimated to grow from US$ 154.9 million in 2023 to US$ 242.9 million in 2033 at a rate of 4.6% creating an absolute $ opportunity of US$ 94.8 million.

Compactors consist of a large bin or container where the waste is deposited. They are equipped with a powerful hydraulic or pneumatic system that applies pressure to the waste, compressing it and reducing its size. Some compactors also incorporate shredding or crushing mechanisms to further break down the waste. Waste management is an essential aspect of maintaining a healthy and sustainable environment.

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With the growing population, managing waste has become more challenging than ever. Hence, the growing waste management-related problem the concept of waste volume management came into play; this method refers to the process of managing waste so that it occupies minimal space and is disposed of safely. The process involves the use of various machines, including compactors, to reduce the volume of waste.

By renting a compactor, businesses can compact their waste on-site, enabling them to fit more waste into each container or compaction cycle. This helps businesses to streamline their waste disposal process, resulting in cost savings and improved operational efficiency.

Key Takeaways from Market Study

• Germany market for compactor rental is highly lucrative growing at a CAGR of 6.0% during the forecast period
• In 2018, the compactor rental market had a valuation of US$ 38.2 million
• Historic growth of the German compactor rental market was 4.1% between 2018 to 2022
• By end use, the municipal corporation is estimated to account for a market share of 33.2% in 2023
• Dry waste type is likely to grow at a CAGR of 4.6% during the forecast period creating an absolute $ opportunity of US$ 66.2 million

“Renting Compactor Enables Effective Waste Management, thus Creating Growth Opportunities for Market Players” says a Fact.MR analyst.

Market Growth Stratagems

Maintaining a fleet of well-maintained, reliable, and high-quality compactors is crucial for rental service providers. Rental service providers regularly service and update their equipment to ensure optimal performance and customer satisfaction.

Key Companies Profiled

• Compactor Rentals
• Bozzuto Bros
• Cali Carting
• Canitize USA LLC
• Compactor Management Company
• NowRush Recycling Solutions
• Runco Waste Industries
• Waste Removal USA
• WasteCare Corporation
• WIN Waste Innovations

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Providing exceptional customer service is a key differentiator in the rental industry. Service providers focus on responsiveness, prompt delivery and pick-up, and thorough equipment explanations.

Further, maintaining a strong online presence through a user-friendly website and online booking platform is essential. Rental service providers allow customers to conveniently browse equipment options, check availability, and book rentals online. In the digital era, service providers also offer online payment options and provide detailed information about equipment specifications, usage instructions, and safety guidelines.

Rental service providers offer a variety of compactors to meet different project requirements in an effort to draw consumers. Market participants make sure that their inventory has compactors of all sorts and sizes that may be used for both small- and large-scale operations. Additionally, rental service companies work to give competitive prices to draw clients. Service companies gain a competitive edge by providing flexible renting plans, discounts, and bundle deals.

Segmentation of Compactor Rental Industry Research

• By Waste Type:
  • Dry Waste
  • Wet Waste
• By Type:
  • Stationary
  • Self-Contained
  • Vertical
• By Capacity:
  • Up to 10 Cubic Meter
  • 10-15 Cubic Meter
  • 15-20 Cubic Meter
  • Above 20 Cubic Meter
• By End Use:
  • Residential
  • Municipal Corporations
  • Health Care & Medical Facilities
  • HoReCa
  • Retail & Groceries
  • University & Academics
  • Events & Gatherings
  • Commercial Spaces
  • Industrial
  • Others
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & ASEAN
  • Middle East & Africa
  • Oceania

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the compactor rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.

The study reveals essential insights on the basis of the waste type (dry waste and wet waste), type (stationary, self-contained, and vertical), capacity (up to 10 cubic meter, 10-15 cubic meter, 15-20 cubic meter, and above 20 cubic meter), end use (residential, municipal corporations, health care & medical facilities, horeca, retail & groceries, university & academics, events & gatherings, commercial spaces, industrial, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Middle East & Africa, and Oceania).

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