Seattle, Jan. 22, 2019 (GLOBE NEWSWIRE) -- The global garbage disposers market was valued at US$ 7,518.75 million in 2017, and is projected to exhibit a CAGR of 1.19% over the forecast period (2019–2026).
Key Trends and Analysis of the garbage disposals Market:
Increasing volume of garbage produced is expected to propel growth of the garbage disposal market. For instance, according to a report by World Health Organization (WHO), in 2016, 2.01 billion tons of solid waste was generated worldwide that resulted in 0.74 Kg of garbage per person per day.
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Furthermore, increasing technological advancements such as noise-free garbage disposals, coupled with ultra-powerful motors are expected to boost growth of the global garbage disposer market during the forecast period. For instance, InSinkErator’s latest garbage disposal offer features such as noise-free operation by using dampening devices and thick foam insulation, which reduces around 60% of noise as compared to the conventional disposers.
Moreover, the slurry produced by the garbage disposals can be further used in the form of fertilizers or biofuel to generate electricity. This added advantage of the waste produced by the disposal can attract the untapped regions and support growth of the garbage disposals market.
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Key Market Takeaways:
- The global garbage disposer market is expected to exhibit a CAGR of 1.19% during the forecast period (2019–2026).
- North America held significant market share in the global garbage disposals market in 2017, owing to presence of key players as well as increasing annual waste generation in the region. According to the Environmental Protection Agency (EPA), in 2016, around 50% of all food produced in the U.S. was thrown away in landfills, which accounted for around 60 million tons of food produced annually. Increasing population and urbanization is expected to increase annual waste generation level by 70% from 2016, to 3.40 billion tones by 2050.
- Some of the major players operating in the global garbage disposal 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.
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