LONDON--(BUSINESS WIRE)--The global e-waste management market is expected to grow at a CAGR of around 4% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global e-waste management market for 2017-2021. The market is further categorized into small equipment, large equipment, and others, of which the large equipment segment dominated the market with close to 44% of the overall market share in 2016.
“Globally, millions of electronic devices are discarded every year as products reach the end-of-life cycle, making e-waste one of the largest sources of waste in several nations. Electronics devices contain vast amounts of toxic materials which pose a high risk to the environment as well as individuals. These concerns have increased the importance of e-waste management, and the market is expected to grow rapidly during the forecast period,” says Thanikachalam Chandrasekaran, a lead power research expert from Technavio.
Technavio’s research analysts segment the global e-waste management market into the following regions:
- APAC
- EMEA
- Americas
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E-waste management market in APAC
Asia is the manufacturing hub of the world, and some of the largest countries in the world (China, India) are in Asia. The rapid industrialization, higher growth in per capita income and expanding middle class have all made Asia a dominant consumer electrical and electronic goods.
The high consumption of electronic goods has also resulted in Asia being the largest e-waste generators in the world. Some of the largest Asian countries that generated the most number of e-waste in terms of quantity are China, Hong Kong, Japan, and India. The awareness on the impact of e-waste has grown over the years. This has resulted in the imposition of strong legislative laws as well as the development of e-waste treatment standards and recycling technologies. Standards have been put in place to recycle waste responsibly, which will lead to the growth of the e-waste management market in India and APAC.
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E-waste management market in EMEA
The European Commission has identified electricals and electronic equipment as one of the fastest growing forms of waste streams in Europe. European countries account for the highest amount of e-waste generated per inhabitant. To control the generated e-waste, the EU has placed national regulations that are aimed at reducing the impact of end-of-life products on the environment.
Regulations promote the reuse and recycling of the equipment, which is achieved through formal recycling wherein electronic devices are collected by designated organizations, retailers, or government bodies such as municipalities. The waste generated is sent to advanced recycling centers to recover valuable components, and the remaining is disposed of in an environmentally friendly manner, thereby reducing the environmental impact.
E-waste management market in Americas
The demand for e-waste management is expected to grow during the forecast period. Millions of devices and equipment are discarded every year as consumers upgrade to the newer generation of products. To control the rising e-waste problem, several states in the US have implemented e-waste recycling programs.
“Vendors are also taking responsibility to control e-waste in the country by introducing take-back programs. For instance, Microsoft, a leading electronics device company, has introduced "Refurbished PC Program" and has partnered with recycling organizations as well as retail stores and OEMs to ease the recycle and return process,” says Thanikachalam.
The top vendors in the global e-waste management market as highlighted in this market research analysis are:
- ERI
- SIMS METAL MANAGEMENT
- TES
- Umicore
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