Global E-waste Recycling and Reuse Services Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 7X.9X% during forecast period of 2020 to 2027.
Global E-waste Recycling and Reuse Services Market
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E-waste or electronic waste Introduction:
E-waste or electronic waste is formed when an electronic product is discarded after its final use. The speedy expansion of technology and the rapid consumption driven culture results in the creation of a very large amount of e-waste in every minute across the globe. Hence, processing of this e waste has become the need of today’s technologically growing society, to save the environment and human health.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Amount of electronic waste worldwide:
The increasing e waste is also given a name as ‘tsunami of e-waste’ by the UN as e waste is considered the “fastest-growing waste stream in the world” with 44.7 million tons generated in 2016, which is approximately weight equivalent to 4500 Eiffel towers. In 2018, an estimated 50 million tons of e-waste was informed across the globe that costs around $62.5 billion and expected to grow annually in both the terms of value & volume.
According to a report by UNEP titled, “Recycling – from E-Waste to Resources,” the amount of e-waste being produced – including mobile phones and computers – could rise by as much as 500 percent over the next decade and the major contributors would be countries like U.S., India & China. As per the current scenario, with the volume of 3 million tons each year the United States is the world leader in generating electronic waste, whereas China is on next position, which produces about 2.3 million tons. And China remains a major e-waste dumping ground for developed countries, regardless of having banned on e-waste imports.
The total e-waste generated globally that count 5.7 kg per citizen in 2014 increased to 6.2 kg per citizen in 2018. The rising trend is estimated to continue, generating around 7.5 kilograms of e-waste per citizen by 2027. Thus, immense need to manage, recycle, and reuse electronic waste will drive market forecasts during the 2019 to 2027. However, according to “International Solid Waste Association”, out of the 44.7 metric ton e-waste generated in 2016, only 8.94 metric tons was collected and recycled, while remaining was disposed to be burned or land-filled. However, changing regulatory landscape and the initiatives taken by governments worldwide, expected to boost the e-waste recycling activities during the forecast period from 2019 to 2027.Governments & several players in the recycling market also promoting the awareness regarding ill effects of e-waste, which will drive the market growth.
Global E-waste Recycling and Reuse Services Market – Overview
The constant demand for the newest and most high-tech products are generating the mass amount of e-waste. The technological advancements lead the immense growth in the number of electrical and electronic devices production. E waste generation was there from the very beginning of such electronic devices, but the invention of the cell phones, smart phones, tablets, iPhone, and i- pads have become the top source of e-waste products because they are not made to last more than two years. Hence, mobile Devices (Smartphones, PDAs, etc.) are expected to grow with highest CAGR of XX.XX% and contribute the largest market share of US$ XX.XX Bn globally by the end of the forecast period.
Global E-waste Recycling and Reuse Services Market Dynamics:
In order to sustain in the market, electronic companies have made the replacement cycle of their equipment substantially small, which has supplemented to an extensive e-waste problem across the globe. Rapid advancements in technology, innovation in media (tapes, software, MP3), compact sizes and falling prices, have resulted in add on to the fast-growing electronic waste around the globe. An increasing demand for more efficient disposal, recycling, and reuse techniques are acting as a significant driver for the development of the global e-waste recycling and reuse services market. Additionally, with a substantial rise in disposable income and improving standard of living, increasing in the spending on electrical and electronic devices. All these factors are responsible for generating increasing amount of e-waste, which in turn boost the market growth.
Global E-waste Recycling and Reuse Services Market – Geographical Outlook
Europe region held the contribution of US$ XX Bn in 2019 and is projected to grow at a XX % rate of CAGR during the forecast period (2020-2027). The strict rules, measurable collection and the robust recycling infrastructure regarding e-waste collection, drives the European market growth. Furthermore, the North America is expected to grow at a XX % rate of CAGR by 2027. The growth in the market can be attributed to the factors like rise in adoption of digitalization and introduction of the innovative technologies in the E-waste recycling and reuse services.
Objective of the Global E-waste Recycling and Reuse Services Market:
The objective of the report is to present a comprehensive analysis of Global E-waste Recycling and Reuse Services Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global E-waste Recycling and Reuse Services Market dynamics, structure by analyzing the market segments and project the Global E-waste Recycling and Reuse Services Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global E-waste Recycling and Reuse Services Market make the report investor’s guide.
Scope of the Global E-waste Recycling and Reuse Services Market: Inquire before buying
Global E-waste Recycling and Reuse Services Market by Product Type
• IT & Telecom Networking Equipment
• Mobile Devices (Smartphones, PDAs, etc.)
• Household Appliances
• Others (Multi-function Commercial Electronics, etc.)
Global E-waste Recycling and Reuse Services Market by Vertical
• Industrial & Commercial Electronics
• Consumer Electronics
Global E-waste Recycling and Reuse Services Market by Geography
• North America
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• Latin America
Global E-waste Recycling and Reuse Services Market Key Players
• Electronic Recyclers International Inc.
• Lifespan Technology Recycling Inc.
• Stena Techno World
• Desco Electronic Recyclers
• Umicore S.A.
• CRT Recycling Inc.
• Tectonics Ltd.
• Cimelia Resource Recovery
• MBA Polymers Inc.
• SIMS Recycling Ltd.
• Global Electric Electronic Processing Inc.
• Desco Electronic Recyclers
• Tectonics Ltd.
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