The global e-waste management market size was valued at 49.29 million tons in 2021 and touched 50.47 million tons in 2022. The market is expected to exhibit strong growth by reaching 63.22 million tons by 2029, exhibiting a CAGR of 3.3% during the forecast period. Increasing circular economy adoption and e-waste handling initiatives and activities are expected to enhance the industry’s growth. Fortune Business Insights™ presents this information in its report titled “E-waste Management Market 2022-2029”.
Information Source – https://www.fortunebusinessinsights.com/e-waste-management-market-102896
Segments
Small Equipment Segment to Lead Owing to Strong Demand
By category analysis, the market is segmented into temperature exchange equipment, screens and monitors, lamps, large equipment, small equipment, and small IT and telecommunication equipment. The small equipment segment is projected to lead, owing to its rising demand.
Unrecycled Segment to Grow Substantially Owing to Lack of Awareness Regarding Negative Environmental Effects of E-waste
As per type, the market is bifurcated into recycled and unrecycled. The unrecycled segment is expected to lead due to the lack of awareness regarding the negative environmental effects of e-waste.
Regionally, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Driving Factors
Stringent Guidelines Regarding E-waste Disposal to Bolster Industry Growth
E-waste management is initiative undertaken to manage e-waste disposal effectively. Stringent guidelines regarding e-waste disposals are likely to elevate electronics-waste handling solutions’ demand. Further, the increasing prevalence of electronics is likely to allow companies to expand their activities. Moreover, the rising adoption of smartphones has elevated e-waste production. Also, governments undertake several initiatives to overcome e-waste production. For example, the Indian government initiated electronic waste handling solutions’ rules for consumers, bulk consumers, dismantlers, and others responsible for the sale, transfer, manufacturing, and equipment processing. These factors may drive the e-waste management market growth.
However, a lack of awareness regarding e-waste disposal may hamper the industry’s progress.
Regional Insights
Rising Consumption of Electronic and Electrical Components to Foster Market Growth in Asia Pacific
The market in Asia Pacific stood at 21.76 million tons and is expected to gain a huge portion of the global e-waste management market share in the coming years. Further, the increasing manufacturing and rising consumption of electrical and electronic components are expected to bolster service adoption.
In Europe, increasing reusing and e-waste recycling may bolster the demand for management services of e-waste. Furthermore, rising government initiatives for sustainable and greener solutions may bolster service adoption.
Competitive Landscape
Key Players Deploy Partnerships to Bolster their Brand Image
The prominent companies operating in the market deploy partnerships to bolster their brand image. For example, ERI partnered with CellBlock FCS and Call2Recycle to develop an Innovative Battery Collection Solution, OneDrum, in April 2022. The solution was created to allow consumers to transport and place huge consumer single-use and rechargeable battery volumes in a single suitable container. This factor may allow the companies to elevate their brand image. Furthermore, companies opt for acquisitions, mergers, partnerships, and innovations to foster their market position.
Key Industry Development
- February 2022: A South Korean construction company SK Ecoplant completed the acquisition of TES, an IT Asset Disposal (ITAD) and e-waste firm, for USD 1 billion.
List of Key Players Profiled in the Report
- Capital Environment Holdings Limited (Hong Kong)
- Eri (U.S.)
- Enviro-Hub Holdings Ltd. (Singapore)
- Sembcorp Environmental Management (Singapore)
- Tes (Japan)
- Tetronics Technologies Limited (U.K.)
- Umicore Ag & Co. Kg (Germany)
- Veolia (France)
- WM Intellectual Property Holdings, L.L.C. (U.S.)
- Sims Lifecycle Services, Inc. (U.S.)
- Boliden AB (Sweden)
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