The global garbage disposals market is projected to reach US$ 8,297.43 Million by 2026, exhibiting a CAGR of 1.19% during the forecast period. Increasing demand for environmental friendly garbage disposals over the conventional disposal methods is expected to propel growth of the garbage disposals market. Furthermore, increasing volume of garbage produced globally is driving growth of this market.
The global garbage disposals market was valued at US$ 7,518.75 Million in 2017, according to Garbage Disposals Market Report, by Product Type (Continuous Feed and Batch Feed), by Application (Residential and Commercial), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
Key Trends and Analysis of the Garbage Disposals Market:
Commercial feed segment held the highest market share in 2017, in the global garbage disposals market, owing to the inclusion of multiple grinding chambers in the design. Moreover, few companies are focusing on initiatives to incorporate continuous garbage disposals in their product segment. For instance, in July 2018, Emerson Electric Co. launched its continuous feed type, Italian designed, special edition Evolution 250 food waste disposer.
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Key Takeaways of the Market:
North America held the dominant market share of 73.20% in 2017, in the global garbage disposals market. Whereas, Asia Pacific held the second largest market share of 19.10%, in 2017 owing to the amount of garbage/waste produced in emerging economies such as India and China due to rapid urbanization.
In case of EMEA, the market is expected to grow at a CAGR of 1.19% during the forecast period, owing to the presence of regulations imposed by the EU, which states that the hazardous household waste, bio-waste, and textile waste will be collected separately by 2025, and by 2035, the amount of municipal waste landfilled must be reduced to 10% or less of the total amount of municipal waste generated.
Moreover, the inclination towards the use of biogas in the African region is expected to boost the market growth during the future period. For instance, according to the World Bank’s, Kenya – Promoting Biogas as Sustainable Clean Cooking Fuel for Rural Households Project, published in January 2016, the dependency on fire wood and charcoal as a source of energy is very high in several emerging economies with around 3 billion people combusting solid fuels on open fires to meet their cooking and heating needs.
For instance, according to the World Bank’s urban development series-knowledge papers, China has an average waste generation of 0.95kg/capita/day with 124.2 kg/capita of municipal waste generated in 2012. Also, Japan had a municipal waste generation of 343.7 kg/capita in 2015.
Major players operating in the global garbage disposals market include Emerson Electric Co., Fortune Brands Home & Security Inc., Whirlpool Corporation, Illinois Tool Works Inc., Joneca Corporation, Salvajor, Electrolux AB, Western Industries Plastic Products LLC., Western Industries Plastic Products LLC. Sears Brands, LLC, and Haier Inc.
Key launches by various major players such as Moen’s ‘universal xpress mount’ and Emerson’s ‘Evolution 250’ are expected to attract potential customers during the forecast period.
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