E-Waste Management Market

Market Synopsys:

The market size of the global E-Waste Management market in the year 2022 is valued at USD 56744.84 Million and is predicted to reach USD 164155.45 Million by the year 2030 at an 14.20% CAGR during the forecast period. E-Waste or electronic-waste has increasing as the use of electronics and electronic gadgets have augmented. Electronics such as computers, televisions, mobile phones, fridges, tablets, washing machines, digital cameras, dryers, toasters, and kettles come with battery supply, and electrical components. This electric or electronics can either be used, recycled or resale through the recovery of material or disposed. Thus, e-waste is growing and with it. The need for efficient scrap management technology is increasing due to increasing health hazards such as bronchitis, kidney damage and Wilson's disease due to improper discharge of toxic substances from electronic scrap and incineration. Therefore, the E-Waste Management market is expected to thrive in the coming years.

E-waste contains rare metals such as silver, gold, palladium, platinum, indium and gallium which are widely used in the manufacture of consumer electronics and IT and communications devices. Due to the shortage of these metals, the prices of those products are high. This increases the necessity to reuse, refurbish, and recycle metal devices. Therefore, these issues also force electronics manufacturers to look for raw materials available from recycled e-waste. This also benefits to reduce the danger of global warming.

Market Segmentation of E-Waste Management Market:

The E-Waste Management market is segmented on the basis of equipment type, method, waste source, and material. Based on equipment type, the market is segmented as small equipment, large equipment, temperature exchange equipment, screens, small IT equipment, and lamps. Based on the method, the market is segmented into recycling & reuse and dispose/trash. By waste source, it is segmented as household appliances, IT & telecom equipment, consumer electronics (CE), printed circuit boards (PCBs), industrial electronics (IE), and medical equipment. By material, the market is segmented into metals including ferrous and non-ferrous metals, plastics, resins and other materials.

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Based on equipment type, the small IT equipment segment is projected to account for considerable share in terms of revenue in the E-Waste Management market

The growth of the information and communication technology (ICT) industry and the high volume of discarded electronics are rapidly increasing the burden of e-waste, thereby contributing significant revenue in the target market.

Based on method, the dispose/trash segment is expected to grow rapidly in the E-Waste Management market

Disposal of e-waste is carried out in three steps: landfill and incineration. However, both landfill and incineration have been observed to have negative influences on the environment and human health. Reuse, on the other hand, is a cost-effective and maintainable way to reduce the generation of e-waste globally.

Based on waste source, the IT & telecom equipment segment is expected to hold a significant share in the E-Waste Management market

The growth of this segment can be attributed to the increasing establishment rate of IT and telecommunication solution providers, as well as the growth of the global healthcare industry.

Based on material, the metal segment is expected to hold a significant revenue in the E-Waste Management market

Since metal is used in essentially all individual components, (PCBs), and microcontrollers, hence, this segment is estimated to show the highest growth during the forecast period.

In the region, the Asia -Pacific and North America E-Waste Management Market holds significant revenue share.

The Asia-Pacific region dominates the E-Waste Management market due to a variety of factors, including the development of new products through continuous innovation and the constant decline in electronic product prices. This has a significant impact on the actual lifespan of electronic products such as computers and mobile phones.

Due to the nature of electronic devices, they are obsolete or require occasional repairs. This is the main cause of e-waste generation. In some cases, repair costs exceed the price of a new device, so users often avoid repairing defective products. As a result, the amount of e-waste is increasing every year as sales of electronic and electrical equipment grow and hesitate to repair defective equipment. In addition, the dumping of e-waste from developed regions into developing countries such as India, China and Pakistan create many openings for effective management of e-waste.