According to Ameco Research, the global e-Waste Management Market size is estimated to grow a CAGR above 14.6% over the forecast timeframe and reach a market value of around USD 170.8 Billion by 2030.
The dramatic increase of the IT and telecom industries has increased the use of electronic devices. Consumers are being forced to abandon obsolete electronic items more quickly as technology advances, adding e-waste to the solid waste form. The expanding e-waste challenge necessitates a stronger emphasis on e-waste recycling and better e-waste management. E-waste management is performed in a range of ways, including a reduction in volume, recycling and reuse, stock management, and process change. One of the valuable and important metals found in e-waste is palladium, silver, indium, gold, platinum, and gallium. These restricted components are widely employed in the production of consumer devices, as well as IT and communications equipment.
When electrical and electronic equipment is no longer suitable for its intended use or has beyond its expiration date, it becomes electronic waste, often known as e-waste. E-waste includes computers, servers, battery cells, monitors, compact discs (CDs), cellular phones, mainframes, iPods, refrigerators, calculators, fax machines, washing machines, scanners, printers, copiers, transceivers, Televisions, medical equipment, and air conditioning units when unfit for use. These electronic varieties of equipment are frequently replaced with new variants due to rapid technological developments and the creation of newer computer components. This has resulted in a massive increase in the generation of e-waste. People are more likely to change to updated versions, and product life has also decreased.
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Global E-Waste Management Market Growth Aspects
The relatively short life cycle of electronic products, as well as increased awareness about health and environmental conservation, are expected to fuel the growth of the e-waste management market over the forecast period. Furthermore, the presence of valuable compounds in e-waste is projected to propel the e-waste management industry ahead. Furthermore, government laws and guidelines for e-waste treatment are projected to buffer the market's growth. On the other hand, rising recycling charges due to a lack of awareness are likely to hinder the growth of the e-waste management market over the projection period.
The rapidly rising middle-class community in emerging economies, combined with altering consumer preferences, is impacting the rapid replacement of older electronic devices with newer models. As a result, the sale of electronic devices is expanding. Furthermore, electronic device manufacturers use sustainable disposal practices, such as take-back systems, and appropriately manage electronic equipment during its end-of-life span. Such factors are projected to drive the market forward over the forecast period. Furthermore, governments around the world are enacting a host of regulations and policies to address e-waste. For instance, in India, the Ministry of Environment, Forestry, and Climate Science has mandated that electronic component manufacturers be held accountable for recovering e-waste in the country, resulting in market development.
Besides that, the many companies and organizations that have been concentrated by third-party auditors will present additional opportunities for the expansion of the e-waste management market during the forecast period. However, the unauthorized disposal of e-waste by emerging regions may create a substantial barrier to the market's growth in the coming years.
Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global e-waste management market.The Asia-Pacific is the fastest-growing segment of the Global e-waste management Market, owing to reasons such as new inventive goods as a result of constant invention and the ongoing decline in the prices of electronic items. This has had a substantial effect on the typical lifespan of electronic devices such as computers and cellphones. Furthermore, the growth in per capita income in several of the region's countries for instance is a consistent shift to product optimization strategies. These factors are to blame for the recent surge in sales of electronic devices such as refrigerators, cellular phones, and laptop computers, which has led to an increase in e-waste in the region.
Furthermore, the Middle East and Africa region are expected to have the highest CAGR throughout the forecast period due to legal dumping of e-waste from emerging economies, as well as enhanced government legislation for methodical collection and classification of electronic trash in the region.
Market Segmentation
The global e-waste management market has been segmented by Ameco Research based onprocessed material, source, andapplication. Based on the processed material, the market is divided into metal, plastic, glass, and others. Based on thesource, the market separatedinto industrial electronics, consumer electronics, and others. Based on application, the market is categorized into disposal, and recycles.
Major Players
Somekey players covered global in the e-waste management industry are Aurubis AG, Electronic Recyclers International, Inc. (ERI), Umicore N.V., Sims Metal Management Ltd, Stena Technoworld AB, MBA Polymers, Tetronics, Enviro-Hub Holdings Ltd., Boliden AB, and Global Electric Electronic Processing Inc.
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