(EnergyIndustry.Net, January 15, 2020 ) Meticulous Research® – a leading global market research company published a research report titled “ E-waste Management Market by Method [Recycling, Reuse], Source [Household Appliance, Industrial Electronics, Telecom, Medical, Consumer Electronics], Material [Ferrous, Non Ferrous, Plastic], Equipment [Small, Large, Screens, Display] - Forecast to 2025”.
According to this latest publication from Meticulous Research®, the e-waste management market is expected to grow at a CAGR of 1.8% during 2019-2025 to reach $45.78 billion by 2025. The growth in the e-waste management market is mainly attributed to the growing global e-waste burden, increasing adoption of electronic devices across the world, inclination towards adoption of technologically advanced gadgets, and shortened lifecycle of electronic devices. In addition, government initiatives for e-waste management is providing significant opportunity to this market. However, lack of proper disposable/dumping systems in ASEAN countries is recognized as major hurdles to overcome. However, high cost of recycling of e-devices hinders the growth of this market.
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Growth Prospects in the E-waste management Market
The e-waste management market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025 – by equipment type (small equipment, large equipment, temperature exchange equipment, screens, small IT equipment, and lamps), method (recycling & reuse, dispose/trash), waste source (household appliances, IT & telecom equipment, consumer electronics, printed circuit boards, industrial electronics, medical equipment), material (metals, plastic & resins, and other materials). The study also evaluates industry competitors and analyzes the market at regional level.
Based on equipment type, the e-waste management market is classified into small equipment, large equipment, temperature exchange equipment, screens, small IT equipment, and lamps. The small equipment segment dominated the e-waste management market in 2018, and is also expected to continue its dominance over the forecast period, owing to high amount of e-waste generated from small equipment as compared to other equipment. Short life span of small equipment due to continuously updating the model, designs, and features and growing adoption of such devices and increasing consumer preference for luxurious and smart lifestyle are expected to contribute to the growth of this segment over the forecast period.
Based on method, the e-waste management market is mainly segmented into recycling & reuse, dispose/trash. Recycling & reuse segment is expected to grow at a fastest CAGR during the forecast period. Growing awareness about health and environmental hazards associated with improper disposal of e-waste, and rising number of initiatives taken by organizations and government agencies to manage e-waste are driving the growth in the recycling & reuse segment of the e-waste management market. Moreover, technological advancements for recovery of precious metals from electronic scrap makes recycling an attractive and feasible option. Reuse, on the other hand, is an economical and sustainable method to reduce e-waste generation, globally.
Europe dominated the e-waste management market in 2019
Europe held the largest share of the global e-waste management market in 2019, followed by North America, Asia Pacific, Latin America, Middle East, and Africa. The dominating position of Europe region due to increased consumption of electronic devices coupled with their short life and higher e-waste collection rate in Europe compared to other countries across the globe. On the other hand, Asia-Pacific countries such as China, and India showcase higher growth potential for the players operating in this market during the forecast period. The growth of this regional market is driven by the factors such as increasing burden of e-waste, rising disposable income, high demand for technically advanced equipment in various industries, growing adoption of consumer electronics gadgets, and government initiatives for e-waste management.
The key players operating in the e-waste management market are Electronic Recyclers International, Inc. (ERI) (U.S.), Aurubis AG (Germany), Sims Metal Management Limited (U.S.), Umicore (Belgium), Boliden AB (Sweden), Global Electric Electronic Processing Inc. (Canada), TRIPLE M METAL LP (Canada), Tetronics (International) Limited (U.K.), Enviro-Hub Holdings Ltd. (Singapore), and Stena Metall AB (Sweden).
Key questions answered in the report-
Which are the high growth market segments in terms of equipment type, waste source, method, and material?
What was the historical market for e-waste management market across the region?
What are the market forecasts and estimates for the period 2019–2025?
What are the major drivers, restraints, challenges, and opportunities in the e-waste management market?
Who are the major players in the e-waste management market?
What are the recent developments in the e-waste management market?
What are the different strategies adopted by the major players in the e-waste management market