Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Garbage Disposals Market – Insights
Garbage disposals are environment friendly and the end product produced after the processing of waste is further used in the form of biofuels, which is an added advantage of the disposal units. It is used for commercial and residential applications. Garbage disposals are further segmented on the basis of their product type as continuous and batch feed disposals.
The waste generated from garbage disposals is further treated in wastewater treatment plants and the leftover grit/solid remains are used as fertilizers. This method is opted over the conventional dumping/burning of garbage, as it also allows to use the residual wastage.
In-sink disposers convert food waste into fine particles, in the form of slurry. This slurry passes through the plumbing system to reach septic tank and a process called anaerobic digestion transforms the waste into end products such as biogas. This biogas can be used in the form of fertilizers or biofuel to generate electricity.
The use of garbage disposals reduces carbon footprints more efficiently as compared to conventional methods of disposing food waste on the landfills, which produces methane gas. Methane gas traps heat from the surrounding and releases a liquid acidic residue, which seeps into the ground water to pollute water reserves.
Moreover, conventional methods of garbage disposals coupled with foul smell from trash bins and soot from burning garbage in the environment lead to various health hazards such as dengue, malaria, asthma, and respiratory illnesses.
Therefore, above mentioned factors are expected to drive market growth for the garbage disposals resulting in its high demand during the forecast period.
The global garbage disposals market was valued at US$ 7.518.75 million in 2017, and is anticipated to register a CAGR of 1.19% in terms of revenue, over the forecast period (2019 – 2026), to reach US$ 8,297.43 million by 2026.
Figure 1. Global Garbage Disposals Market Share (%), By Region, 2017
Source: Coherent Market Insights, 2017-18
Asia Pacific is the fastest growing region and held the highest CAGR among the regions segment during the forecast period (2019-2026), owing to the rapid economic growth of countries such as India and China. For instance, India is witnessing inefficient waste infrastructure and increasing rates of solid waste generation per capita. According to the statistics published in the Assocham Conference on 5th national conference and awards on waste to wealth, India alone generates more than 100,000 metric tons of solid waste per day. Therefore, the demand for garbage disposals in APAC is expected to increase during the forecast period.
Demand for garbage disposals is expected to increase in emerging economies such as China and India where governments in cities such as Beijing, Shanghai, and Xiamen have already offered subsidies to their residents for building home waste treatment facilities such as garbage disposals.
The Shenzhen government, in 2016, made it mandatory for all new residential buildings to be equipped with garbage disposals to further cut the volume of food waste.
Moreover, according to a report by World Bank, in 2018, East Asia and Pacific generated around a quarter (23%) of the global waste. Also, by 2050, waste generation in Sub-Saharan Africa is expected to triple from current levels, while South Asia will double its waste stream. Furthermore, garbage disposals manufacturing and distribution companies can focus on the APAC region by explaining its benefits to the potential customers over conventional waste disposal methods. This can be done by airing advertisements, endorsing through social media and by undertaking product campaigns in the region.
Figure 2. Global Garbage Disposals Market Share (%), By Application, 2017
Source: Coherent Market Insights, 2017-18
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.