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New York, May 12, 2023 (GLOBE NEWSWIRE) — The E-waste Management System Market size is projected to surpass around US$ 160.2 Billion by 2032 from US$ 52.6 Billion in 2022 and it is poised to reach a CAGR of 12.1% from 2023 to 2032.
The E-waste management system is a process of collecting, processing, transporting, and disposing of electronic waste in an eco-friendly manner. With rapid technological advancements, the generated electronic waste volume has increased significantly across the globe in the past years.
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- By Processed Material, in 2022, the metal segment held the largest revenue share and is expected to grow more during the forecast period from 2023-2032.
- By Source, the household appliances segment dominated the global e-waste management system market in 2022.
- By Application, the trashed segment accounted for the largest market share in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 39%.
- Europe is likely to grow at a significant rate.
There is increased adoption of new technologies in developed economies due to rapid urbanization and industrialization. The technologies such as IoT are gaining momentum leading to the use of electronic devices in every human activity.
Factors Affecting the Growth of the E-Waste Management System Market
There are several factors that can affect the growth of the e-waste management system market. Some of these factors include:
- Adoption of advanced technologies: The market growth can be highly attributed to the adoption of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML).
- Initiatives by electronic manufacturers: Several leading mobile phone manufacturers have launched their own initiatives for the collection of old phones from their users who are willing to upgrade their technology.
- The decreased life span of electronic devices: The market growth is mainly influenced by the decreased life span of electronic devices, inspiring the users to adopt the recent models over outdated products.
- High Cost: The market growth is expected to be hampered by the high cost associated with recycling.
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Top Trends in Global E-Waste Management System Market
The circular economy promotes the recycling and reuse of materials in order to create a sustainable economy and reduce waste. The global e-waste management system market is largely focused on the adoption of this approach, with companies focused on refurbishing and repairing electronic devices to increase their lifespan. Moreover, the utilization of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) is highly transforming the e-waste management system market. These advanced technologies are increasingly being used to enhance the accuracy of e-waste tracking and reporting, reducing costs and improving the efficiency of e-waste management processes.
The market for e-waste management systems is anticipated to expand as a result of the proliferation of electronic devices that results in more e-waste generation. In addition, market expansion is also influenced by rapid technological advancements and rising disposable incomes. However, the present state of recycling programs is expected to be hindered by an inadequate number of waste pickup zones.
Asia Pacific accounted for the highest revenue share in 2022, thereby dominating the global e-waste management market. This significant market share can be highly attributed to rising disposable income in developing and developed economies coupled with the increasing adoption of electronic devices. Furthermore, in the Asia Pacific region, China is the largest market for e-waste, followed by India and Japan. Moreover, the high population, as well as rapid industrialization, are also the key drivers expected to surge the market growth of this region. The global e-waste management system market in Europe is likely to expand more significantly during the forecast period owing to the expanding government initiatives and active participation in e-waste collection and recycling activities.
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Scope of Report
|Market Value (2022)||USD 52.6 Billion|
|Market Size (2032)||USD 160.2 Billion|
|CAGR (from 2023 to 2032)||12.1%|
|Asia Pacific Revenue Share||39%|
|Historic Period||2016 to 2022|
|Forecast Year||2023 to 2032|
There is an increase in the sale of electronic devices such as televisions, computers, and mobile devices due to the rising disposable income and purchasing power of consumers. With ongoing product innovation and rapid technological development, sales of electronic products have increased dramatically. In addition, the introduction of new items with extra services and improved features inspires users to adopt the recent models over outdated products. Owing to this, these devices presently last only for 3 to 4 years on average. Therefore, the volume of e-waste is increasing rapidly and also driving the industry participants to expand their businesses to create an extensive network for the collection of e-waste as well as set up extra processing facilities.
Complications related to e-waste recycling have been triggered due to the expensive processing techniques and lack of e-waste gathering facilities. Due to this, several outdated products are kept in storerooms and warehouses or tossed in the trash. Consequently, a structure for the regular collection of e-waste is required to be established necessarily in order to improve the situation.
Initiatives by electronic manufacturers are expected to generate several growth opportunities in the global market. During research & development as well as manufacturing processes, substantial amounts of e-waste are produced, and businesses are undertaking steps to recover the essential elements from this trash. Several electronic item manufacturers are presently aware of the financial benefits related to the processing and recycling of e-waste. Later being recycled, the mobile phones comprised of valuable metals, including gold, palladium, and silver, which can be recovered. Thus, several leading mobile phone manufacturers have launched their own initiatives for the collection of old phones from their users who are willing to upgrade their technology.
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Report Segmentation of the E-Waste Management System Market
Processed Material Insight
The metal segment accounted for the largest revenue share in 2022. The metals are primarily used in every single component, microcontrollers, and printed circuit boards (PCBs); as a result of this, the segment is further expected to exhibit the highest growth rate during the forecast period. In addition, the electronic product consists of components that use metal tracks, conductive metals, and metal solders. The plastic segment is anticipated to register a significant growth rate in the coming years owing to the increasing use of plastic in several electric devices, including computers, kettles, food processors, lawnmowers, and telephones.
The household appliances segment dominated the market in 2022. The recycling of e-waste from household appliances and proper disposal can help to reduce environmental pollution and conserve valuable resources. Moreover, the growth of this segment can be highly attributed to the rising demand for these products as well as the shortening lifespan of these devices. The industrial electronics segment is projected to expand more significantly. The segment growth is mainly influenced by the growing establishment rate of IT & telecom solution providers coupled with expanding healthcare industry worldwide.
The trashed segment held the largest market share in 2022. E-waste disposal is carried out through three procedures, including reusing, incineration, and landfilling. Reuse is an economical as well as sustainable method for reducing e-waste generation across the globe. However, both incineration and landfilling are expected to negatively impact the environment and human health to a large extent. The recycled segment is projected to expand more significantly over the forecast period owing to the global awareness programs that are undertaken by various NGOs and governments that focus on the effective collection, recycling, and treatment of e-waste.
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By Processed Material
- Other Processed Materials
- Household Appliances
- Consumer Electronics
- Industrial Electronics
- North America
- The US
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Latin America
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
The competitive landscape of the market has also been examined in this report. Major market players are highly investing in R&D for the introduction of technologically advanced and cost-effective recycling equipment. Moreover, they are involved in partnerships, collaborations, mergers & acquisitions, and competitive pricing for their services and products.
Market Key Players:
- Umicore N.V.
- Electronic Recyclers International, Inc.
- MRI (Australia) Pty Ltd.
- Enviro-Hub Holdings Ltd.
- Sims Recycling Solutions Ltd.
- Waste Management, Inc.
- Capital Environmental Holdings Ltd.
- Tetronics Technologies Ltd
- Other Key Players
Recent Development of the E-Waste Management System Market
- In February 2022, the e-waste and IT Asset Disposal (ITAD) company and the construction company SK eco plant signed the merger agreement. TES. SK Ecoplant bought 100% of TES for almost USD 1 billion.
- In 2022, the OneDrumTM was formally introduced by Electronic Recyclers International, Inc., which is the first mixed consumer battery collection product in the market.
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