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Garbage Disposable Units Market Trends, Top Companies, Share, Growth And Forecast 2033
Garbage Disposable Units Market Trends
According to The Business Research Company's, The garbage disposable units market size has grown steadily in recent years. It will grow from $3.92 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 2.5%. The growth in the historic period can be attributed to environmental awareness, convenience and hygiene, urbanization, consumer awareness, plumbing infrastructure.
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Market Drivers and Trends:
The expansion in residential construction is expected to propel the growth of the garbage disposal unit market going forward. Residential construction refers to the construction, alteration, or repair of single-family houses or apartment buildings intended to be occupied by individuals or families. It includes the building of new homes as well as the renovation or expansion of existing homes. Garbage disposal units are typically installed in residential kitchens to collect solid food waste in a grinding chamber. For instance, in August 2023, according to Reuters, a Canada-based news agency, single-family housing starts, which account for the bulk of homebuilding, jumped 6.7% to a seasonally adjusted annual rate of 983,000 units in the previous month. When compared to the same month in the previous year, 2022, there was a substantial increase of 9.5% in single-family housing starts. Therefore, an increase in residential construction is driving the growth of the garbage disposal unit market.
Major companies operating in the garbage disposal unit are introducing innovative technology in garbage disposable units, such as EZ Installation Technology, to gain a competitive edge in the market. The EZ Installation Technology simplifies the installation process of garbage disposals by eliminating the need for special tools or complicated procedures. For instance, in September 2023, InSinkErator, a US-based manufacturer of garbage disposal units, launched the EZ Installation Technology as part of the next generation of garbage disposals by InSinkErator, which also features the company's re-engineered MultiGrind and SoundSeal Technology for quieter and more efficient operation. The new garbage disposals were completely redesigned to grind more types of food waste and do so quietly, making them a more environmentally friendly solution for managing food waste in the kitchen.
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Major Key Players of the Market:
Emerson Electric Co; Fortune Brands Home & Security Inc.; Whirlpool Corporation; Illinois Tool Works Inc.; Joneca Corporation; Salvajor Co; Electrolux AB; Western Industries Plastic Products LLC; Sears Brands LLC; Haier Group Corporation; Frigidaire Appliance Co; MOEN Incorporated; GE Appliances; KitchenAid; InSinkErator; Waste King Ltd.; Anaheim Manufacturing Co; Franke Holding AG; Hobart Corporation; Kenmore; Becbas; Midea Group; Greenfly Co Limited; Republic Services Inc.; Remondis Group; Aqua Enviro Limited; Carbonzero; FOODLINK FORUM; Clean Harbors Inc.; Stericycle Inc.
Garbage Disposable Units Market 2024 Key Insights:
• The garbage disposable units market size is expected to grow to $4.54 billion in 2028 at a compound annual growth rate (CAGR) of 3.1%.
• Residential Construction Growth Drives Global Demand For Garbage Disposal Units
• Garbage Disposal Industry Advances With Ez Installation Technology For Improved Efficiency
• Asia Pacific was the largest region in the garbage disposable units market in 2023.
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