In terms of revenue, the Global E-Waste Management Market is expected to reach 111968.93 USD Million by 2028, growing at a CAGR of 14.50% from 2022 to 2028.
E-Waste is one of the fastest-growing waste streams in the world. The discarding of electronic products worldwide has intensified in recent years, with 20-50 million tonnes being generated every year, according to Greenpeace, an international environmental group. Globally, E-Waste is the most commonly used term for denoting electronic waste.
The potential driving factors for the market to flourish in the coming years are the rising concerns towards sustainability and reducing e-waste pollution. Also, stringent regulation imposed by government authorities on minimizing or liquidating e-waste is fueling the market growth.
- The land-filling sub-segment is anticipated to dominate the segment for E-Waste Management Market and growing at a substantial CAGR. This segment is expected to grow in the coming years owing to its high-cost effectiveness in disposing of waste.
- The source type segment is accounted for the largest market share in 2021. The global e-waste management market was dominated by the household appliances segment in 2020 and is expected to maintain its dominance in the upcoming years. Household appliances constitute a major part of the e-waste across the world.
- Asia Pacific is the largest regional segment. This surge is attributed to the rising demand for e-waste management in developed economies such as the U.S. and Canada. This region dominated owing to its stringent government regulatory norms on e-waste management.
Some of key players in E-Waste Management Market include, Electronic Recyclers International, Inc. (ERI), Aurubis AG, Sims Metal Management Limited, Umicore, Boliden AB, Global Electric Electronic Processing Inc., TRIPLE M METAL LP, Tetronics (International) Limited, Enviro-Hub Holdings Ltd., and Stena Metall AB..
Electrical and electronic equipment (EEE) has become an essential part of everyday life. Its availability and widespread use have enabled much of the global population to benefit from higher standards of living. However, the way in which e-waste is produced, consumed, and disposed of e-waste is unsustainable. Because of the slow adoption of collection and recycling, externalities such as the consumption of resources, the emission of greenhouse gases, and the release of toxic substances during informal recycling procedures illustrate the problem to remain within sustainable limits. Consequently, many countries are challenged by the considerable environmental and human health risks of inadequately managed Waste Electrical and Electronic Equipment (WEEE), widely known as e-waste. Even countries with a formal e-waste management system in place are confronted with the relatively low collection and recycling rates.
Asia Pacific is expected to dominate the global E-Waste Management Market in 2021 and is likely to continue the same trend during the forecast period. An increase in government initiatives and support in e-waste management is likely to generate demand in this region for this market in near future. Increasing e-waste management facilities in countries such as U.S. & Canada are further adding spotlight. Significant improvements in the e-waste infrastructure, especially in the developing economies, are providing a thrust to the E-Waste Management Market growth.