Pune, India, Oct. 06, 2022 (GLOBE NEWSWIRE) — The world electronic waste management market the size in 2021 was 49.29 million tons. The market is expected to grow from 50.47 million tons in 2022 to 63.22 million tons by 2029, growing at a CAGR of 3.3% during 2022-2029. Growing adoption of circular economy and e-waste initiatives and activities are expected to drive industry growth. Fortune Business Insights™ provides this information in its report entitled “Electronic Waste Management Market”.
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List of Key Players Featured in the Report
- Capital Environment Holdings Limited (Hong Kong)
- Eri (USA)
- Enviro-Hub Holdings Ltd. (Singapore)
- Sembcorp Environmental Management (Singapore)
- Tes (Japan)
- Tetronics Technologies Limited (UK)
- Umicore Ag & Co. Kg (Germany)
- Veolia (France)
- WM Intellectual Property Holdings, LLC (USA)
- Sims Lifecycle Services, Inc. (USA)
- Boliden AB (Sweden)
Report Scope and Segmentation:
|2029 value projection||63.22 million USD tons|
|E-waste management market size in 2021||49.29 million USD tons|
|Number of pages||150|
|Segments Covered||By category, by type and by region|
|E-waste Management Market Growth Drivers||The small equipment segment will dominate due to its high demand|
|Strict e-waste disposal guidelines to drive market progress|
Impact of COVID-19:
Stop on Electronic waste Recycling and Collection to Hinder Market Progress
This industry is expected to be negatively affected during the COVID-19 pandemic due to the shutdown of recycling and e-waste collection. Additionally, the sudden spike in COVID-19 infections led to a halt in production activities. Additionally, trade restrictions have led to slower economic progress and limited mobility. However, the resumption of lockdown restrictions has allowed manufacturers to strengthen their businesses and elevate their market position. These factors have enabled the growth of the industry.
The small equipment segment will dominate due to its high demand
By category, the market is segmented into temperature exchange equipment, displays and monitors, lamps, large equipment, small equipment, and small computer and telecommunications equipment. The small equipment segment is expected to dominate due to its growing adoption.
Leading unrecycled segment due to lack of awareness of the negative environmental effects of e-waste
Based on type, the market is divided into recycled and non-recycled. The non-recycled segment is expected to lead, due to a lack of awareness of the negative environmental effects of e-waste.
Regionally, the market is clubbed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
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The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it examines the regional developments and the strategies undertaken by the major market players.
Drivers and Constraints
Strict e-waste disposal guidelines to drive market progress
E-waste management is an initiative to effectively manage the creation of electronic waste. Strict e-waste disposal guidelines should improve adoption of e-waste solutions. Also, the growing prevalence of electronics is expected to allow businesses to expand their business. Additionally, the growing demand for smartphones has increased the generation of e-waste.
In addition, governments are undertaking several initiatives to combat the generation of e-waste. For example, the Indian government has launched rules on e-waste treatment solutions for consumers, large consumers, dismantlers and others responsible for the transfer, sale, manufacture and treatment of equipment. These factors may boost the growth of the e-waste management market.
However, lack of awareness regarding e-waste disposal is expected to hamper the growth of the industry.
Growing Government Involvement in E-waste Management to Drive Market Progress in Asia Pacific
Asia-Pacific is expected to dominate the e-waste management market share owing to the growing involvement of governments in e-waste management. The Asia-Pacific market stood at 21.76 million tons in 2021 and is expected to increase gradually in the coming years. Additionally, the growing manufacture and consumption of electrical and electronic components could aid the progress of the market.
In Europe, increasing reuse and recycling of e-waste is expected to drive adoption of e-waste management services. In addition, several government initiatives for sustainable and greener solutions should promote the adoption of such services. These factors could boost the growth of the industry in the coming years.
In North America, strict government initiatives for e-waste disposal and collection are expected to drive up demand for such services. This factor can propel the growth of the industry.
Major players enter into partnerships to boost their brand image
Major companies operating in the market are entering into partnerships to enhance 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 developed to allow consumers to place and transport volumes of single-use batteries and refillable in a single suitable container. . This factor can allow companies to strengthen their brand image. Additionally, companies are rolling out acquisitions, mergers, partnerships, and innovations to strengthen their position in the market.
Development of key industry
- February 2022: A South Korean construction company, SK ecoplant, has acquired TES, an IT asset disposal (ITAD) and e-waste company, for $1 billion.
Browse Detailed Abstract of Research Report with TOC:
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Main emerging trends – for main countries
- Regulatory analysis
- Porter’s five forces
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on the Global E-Waste Management Market
- Supply chain challenges
- Measures taken by government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global E-waste Management Market Analysis, Outlook and Forecast, 2018 – 2029
- Main results/summary
- By Category (Volume)
- Temperature exchange equipment
- Screens and Monitors
- Big gear
- Small equipment
- Small computer and telecommunications equipment
- By Type (Volume)
- By Region (Volume)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Frequently Asked Questions (FAQ):
1. The impact of COVID-19 on electronic waste management growing industry?
Answer: The global e-waste management market size in 2021 was 49.29 million tons. The market is expected to grow from 50.47 million tons in 2022 to 63.22 million tons by 2029
2. Who are the main players in the impact of COVID-19 on Electronic Waste Management Market?
Answer: Capital Environment Holdings Limited (Hong Kong), Eri (USA), Enviro-Hub Holdings Ltd. (Singapore), Sembcorp Environmental Management (Singapore), Tes (Japan)
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