Reduction in life span of electronic devices, scarcity of sources of precious metals, and government policies and regulations for an effective e-waste management drive the growth of the e-waste management market.
NEW CASTLE, Del., Nov. 23, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “E-Waste Management Market by Material (Metal, Plastic, Glass, and Others), Source Type (Household Appliances, Industrial Electronics, and Consumer Electronics), and Application (Trashed and Recycled): Global Opportunity Analysis and Industry Forecast, 2022–2032″.
According to the report, the global e-waste management industry generated $57.81 billion in 2022, and is anticipated to generate $244.56 billion by 2032, witnessing a CAGR of 15.7% from 2022 to 2032.
Prime determinants of growth
Reduction in life span of electronic devices and scarcity of sources of precious metals are driving the growth of the market. However, increase in recycling cost incurred due to inadequacy of infrastructure hampers the growth of the market. Furthermore, e-waste initiatives by electronic manufacturers across the globe are expected to provide major growth opportunities for the e-waste management market during forecast period.
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Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$57.81 Billion |
|
Market Size in 2032 |
$244.56 billion |
|
CAGR |
15.7 % |
|
No. of Pages in Report |
376 |
|
Segments covered |
Material, Source Type, Application, and Region. |
|
Drivers |
Reduction in lifespan of electronic devices. Scarcity of source of precious metals. Government policies and regulations for effective e-waste management. |
|
Opportunities |
Increase in recycling cost incurred due to inadequacy of infrastructure |
|
Restraints |
E-waste initiatives by electronic manufacturers across the globe. |
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The metal segment is expected to maintain its dominance during the forecast period
By material, the metal segment held the largest market share of the e-waste management market in 2022. This is attributed to rise in demand for precious metals. However, the others segment is expected to grow in the future at a CAGR of 17.8% from 2022 to 2032, as valuable rubber, ceramics, wood, concrete and plywood can be extracted from raw material used in manufacturing electronic products.
The home appliances segment is expected to maintain its dominance during the forecast period
On the basis of source type, the home appliances segment held the largest market share of the e-waste management market in 2022. This is attributed to increase in per capita income, technical advancements, and global population growth. However, the consumer electronics segment is expected to grow in the future at a CAGR of 17.8% from 2022 to 2032, as the production of consumer electronics is happening at a large scale.
The trashed segment is expected to maintain its lead position during the forecast period
On the basis of application, the trashed segment held the largest market share of the e-waste management market in 2022. This is attributed to the e-waste being disposed-off in the form of trash due to the absence of efficient recycling and recovery technology and the unlawful transfer of hazardous e-waste to developing countries. However, the recycled segment is expected to grow in the future at a CAGR of 17.8% from 2022 to 2032, as the popularity and demand for refurbished products is growing at an increasing rate.
Asia-Pacific to maintain its dominance by 2032
On the basis of region, Asia-Pacific dominated the e-waste management market in the year 2022. This is due to the new product development, price reductions and increasing per capita income. The region is expected to dominate the market as it is growing at a CAGR of 17.8% from 2022 to 2032.
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Leading Market Players: –
- Eniro-Hub Holdings Ltd.
- TES
- Capital Environment Holdings Limited
- Tetronics Technologies Limited
- ERI
- WM Intellectual Property Holdings, L.L.C.
- Sembcorp Industries (Temasek Holdings)
- Veolia
- MRI Technologies
- Umicore
The report provides a detailed analysis of these key players of the global e-waste management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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