Reduction in life span of electronic device and scarcity of sources for precious metals drive the growth of the global E-Waste Management Market. However, rise in recycling cost incurred due to inadequacy of infrastructure restrains the market growth. On the other hand, e-waste initiatives by electronic manufacturers across the globe present new opportunities in the coming years.
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Based on source type, the household appliances segment contributed to the highest share in 2020, accounting for nearly half of the global e-waste management market, and is expected to witness its dominance in terms of revenue during the forecast period. Household appliances hold the major share, as it constitutes the major part in overall e-waste all over the world.
This has generated need to formulate effective policies to manage tremendous volume of e-waste. However, the consumer electronics segment is projected to manifest the fastest CAGR of 17.00% from 2021 to 2028, owing to its application in handling high voltage and high current in industrial systems.
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Based on region, Asia-Pacific accounted for the highest share in 2020, holding more than two-fifths of the global e-waste management market, and will maintain its leadership status by 2028. This is owing to new product developments due to continuous innovations and constant decline in prices of electronic products.
On the other hand, the market across LAMEA region is estimated to portray the largest CAGR of 18.8% during the forecast period. Increase in the usage of mobile phone in African nations over the last 10 years which increased the adoption of mobile phones by nearly more than half of the population in this region. Moreover, the market across North America would grow at a significant pace.
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Covid-19 Scenario
- Rise in adoption of work from home policies by offices and enterprises has increased the adoption of laptops and mobile devices, which in turn has lowered the utilization of office desktop and computers. This scenario, moreover, has resulted in creating a recycling option for these equipment, thereby favoring the market growth.
- As per the analysis by AMR, around 60 % businesses in Europe are planning to allow employees to work from home in the future. This scenario is estimated to create lower adoption rate for enterprise IT equipment and accessories.
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