Westford, USA, Jan. 31, 2023 (GLOBE NEWSWIRE) -- North America continues its dominant position in the E-waste management market owing to technological breakthroughs by players in managing E-waste. The requirement to employ recyclable materials or affordable metals for electronics manufacture and the rising demand for consumer electronics devices internationally are both credited with driving the expansion of the e-waste management market. In addition, discarding personal belongings or outdated household products is prompted by the introduction of cutting-edge technological devices or the quick updating of smart home appliances. Therefore, it presents profitable chances for market expansion. Furthermore, the market is anticipated to grow in the upcoming years due to the rising demand for rare metals and components needed to manufacture electronic goods and the high price of these raw materials.
According to SkyQuest's market insights, the global production of e-waste reached 54.7 million metric tonnes in 2022. Furthermore, it is predicted that as people continue to buy more devices, global e-waste will increase to 74 million metric tonnes by 2030.
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Browse in-depth T.O.C. on "E-Waste Management Market"
- Pages - 254
- Tables - 151
- Figures - 76
The term "e-waste," which stands for "discarded electrical and electronic items," refers to all IT gadgets and other equipment that has reached the end of their useful life, including cellphones, laptops, storage devices, waste batteries, servers, home appliances, and solar power parts. E-waste has significantly increased yearly due to the increasing obsolescence of electronic gadgets and rising consumer purchasing power.
Prominent Players in E-Waste Management Market
- Eri
- Tes
- Sembcorp Environmental Management
- Veolia
- Tetronics Technologies Limited
- GEEP
- WM Intellectual Property Holdings, L.L.C.
- Adatte E-Waste Management
- LifeSpan Technology Recycling Inc.
- Call2Recycle Inc.
- TRADEBE, Aqua Metals Inc.
- COM2 Recycling Solutions
- CIMELIA RESOURCE RECOVERY PTE LTD.
- ENGITEC TECHNOLOGIES SPA
- Ecomation Oy
- Waste Management Inc.
- R.S.R. Corporation
- M.R.I. e-cycle solutions
Metal Segment Emerges as the Major Revenue Contributor for the E-Waste Management Market
The metal segment holds a sizable market share in the E-waste management industry and is anticipated to increase with a CAGR of 4.7% during the forecast period. The significant use of metal as a key component in the production of the majority of electronic and electrical equipment is the segment's primary growth driver. Therefore, efficient technologies to recover metal from abandoned electronic items are a crucial advantage in the market rivalry. Furthermore, the recycling process primarily intends to extract or retrieve additional metal, which is barely available.
North America is anticipated to account for a significant portion of the market during the projected period due to the widespread adoption of e-waste management solutions and the early adoption of sophisticated recycling technology. In addition, government subsidies to businesses with efficient recycled techniques for rare materials and stringent government restrictions to reduce carbon emissions are other essential aspects of expanding the regional market.
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Recycling Segment to Capture Significant Market Share owing to Increasing Application in IT Sector
The recycling segment is projected to have a CAGR of 4.2% from 2022 to 2028, owing to favorable government regulations and activities promoting the development of innovative and efficient recycling processes or systems. Additionally, several significant international IT giants have made significant contributions by teaming up with recycling businesses to increase the reuse of abandoned electronic goods. Furthermore, as the globe transitions to a sustainable environment, using sustainable materials to produce electrical devices helps reduce carbon emissions.
Asia Pacific region is anticipated to progress at a CAGR of roughly 6.4% during the forecast period. One of the main development drivers for the industry in the region is the combination of rising disposable income in established and developing economies with the rising adoption of electronic devices. Additionally, Western nations like the U.S. and the U.K. export a sizeable portion of the e-waste they produce to Asian countries, which is expected to be positive for the market in that region.
The e-waste management market is competitive and fragmented due to several domestic and international players. Therefore, the research report serves as a resource for investors owing to its accurate portrayal of competition analysis of leading players by market type, growth goals, product portfolio, financial position, and regional presence in the market.
Key Developments in E-Waste Management Market
- Mizuho Bank and the international I.T. Company Fujitsu announced a partnership to help clients manage their E.S.G. and S.D.G. data. The collaboration aims to combine the approaches offered by the two schools to visualize CO2 emissions that occur along the whole supply chain. Furthermore, the cloud services of Fujitsu will give customers the ability to increase their efforts toward decarburization and the effectiveness of sustainable management strategies in conjunction with Mizuno Bank's customer network and knowledge of energy and environmental solutions.
- Co-op and startup business Spring has announced the expansion of its tech-recirculation pilot. By discovering the value of outdated and unwanted gadgets, users can continue reducing electronic waste and earning money. The trial will keep using the "kiosk-style pods" from Spring, which enable users to sell used phones, tablets, e-readers, and smartwatches. Customers can resell these electrical items once they have been fixed, refurbished, reused, or recycled.
- With the acquisition of T.E.S. Envirocorp, SK Ecoplant will enter the global market to recycle and reuse electric cars and I.T. equipment batteries. As a result, SK Ecoplant has increased its clientele in the circular economy-focused recycling industry. SK Ecoplant aspires to a circular economy with zero resource waste and global pollution by recycling waste and turning it into electricity.
- AssetSureTM, an I.T. Asset Ship Direct Recycling & Data Destruction Program, is offered by Clean Earth, a top provider of environmental and regulatory waste management services. The program provides small and remote businesses a practical option to send their company-owned electronic assets from any location in the United States to a Clean Earth facility for safe and ethical recycling and disposal.
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Key Questions Answered in E-Waste Management Market Report
- What is the anticipated CAGR for the E-waste management market?
- Which are the most significant growth-driving factors for the global market?
- What are the major regulatory frameworks and policies for the market?
- Which are the most profit-driven segments to invest in over the forecast period?
- What strategies help players to strengthen their position in the market?
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