The aforementioned factors are expected to drive the growth of the segment in the global e-waste management market during the forecast period.
PORTLAND, OR, UNITED STATES, December 15, 2021 /EINPresswire.com/ — The presence of both driving and limiting factors is expected to balance the growth of the market; therefore, the global E-Waste Management Industry is expected to experience moderate growth rate during the forecast period (2021–2028). The continuous decline in life span of electronic devices coupled with high rate of obsolescence are the factors anticipated to mark the growth of e-waste generation. This ultimately supports the market growth.
The problem of scarcity of precious metals used in electronic devices is expected to increase production of several electronic devices, making recycling of e-waste as essential. Therefore, the impact of driving forces is not expected to witness enormous change during the study period. The cost of e-waste processing methods and low awareness about hazardous effects of e-waste among the end users create adverse situations such as release of lead into the environment causes damage to human blood, kidneys, and central and peripheral nervous systems during the forecast period.
According to a recent report published by Allied Market Research, titled, “E-Waste Management Industry by Processed Material, Source Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2028,” The global E-Waste Management Industry size was valued at $49.88 billion in 2020, and is projected to reach $143.87 billion by 2028.
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The dynamics of the E-Waste Management Industry during the study period (2021–2028) depicts the dynamic prospect through 2028. The scarcity of precious metals is expected to create the need for recycling of electronic devices waste for the reuse of these metals in the future. In addition, the high rate of obsolescence of electronic devices including mobiles, computer, laptops and televisions increase e-waste leading to upsurge in recycling activities. Despite expensive recycling methods, recycling is the most suitable option for e-waste management as it provides benefits such as extraction of precious metals and solves the problem of decreasing landfill areas.
Moreover, government initiatives and increase in e-waste collection zones fuel the market growth. Despite expensive recycling methods, recycling is the most suitable option for e-waste management as it provides benefits such as extraction of precious metals and solves the problem of decreasing landfill areas. Moreover, government initiatives and increase in e-waste collection zones fuel the market growth.
Developing countries lead to recycling the e-waste, as majority of the e-waste is exported to emerging countries by the developed countries. Amongst all sources of e-waste such as IT & telecommunication and consumer electronics, refrigerator sets from household appliances are discarded in highest number as compared to other appliances. The decrease in the life cycle of electronic products, such as computers, laptops, and cell phones generates large amount of electronic waste in the developed countries such as North America.
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Key Findings Of The Study
• By processed material type, in 2020, the metal segment dominated the E-Waste Management Industry size. However, the plastic segment is expected to exhibit significant growth during the forecast period.
• On the basis of source type, the household appliance segment accounted for the highest revenue in 2020, however, the consumer electronics segment is expected to witness highest growth rate during the forecast period.
• Region wise, the E-Waste Management Industry was dominated by Asia-Pacific. However, North America is expected to witness significant growth in the upcoming years.
The market players operating in the E-Waste Management Industry include Waste Management Inc., Capital Environmental Holdings Ltd., and Electronic Recyclers International, Inc., Enviro-Hub Holdings Ltd. (Singapore), Sembcorp Industries Ltd., Veolia Environment S.A., Mri (Australia) Pty ltd., Tetronics (International) Limited, UMICORE SA and TES-AMM. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. Further, these players are anticipated to invest more in R&D activities to provide compact and cost-effective solutions for numerous applications.
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