The e-waste management market size was valued at USD 41.97 Billion in 2019 and is projected to reach USD 102.62 Billion by 2027, growing at a CAGR of 11.9% from 2020 to 2027.
Furthermore, the e-waste management market generated a volume of 51.66 Million tons in 2019 and is projected to generate 74.72 Million tons by 2027, growing at a CAGR of 4.8% from 2020 to 2027.
E-Waste is one of the fastest growing waste streams in emerging as well as developed regions. The reduced life spans of electrical, electronic and consumer electronic devices are generating large E-Waste, which is growing rapidly every year. The growth of the E-Waste market is supplemented by the growing need for upgrading to the latest technologies. A desire towards the adoption of new technologically advanced devices, leads to generate million tons of E-Waste across various regions. According to the United Nations initiative to estimate E-Waste production, the world produced approximately 50 million tons of E-Waste in 2012, on an average 15 lbs per person across the globe. In 2012, UN also stated that, UK produced 1.3 million tons of electronic waste. China generated 11.1 million tons of E-Waste which was followed by the United States that accounted for 10 million tons in 2012.
To reduce the E-Waste generated across the world, E-Waste management initiatives are being taken by the government agencies of various regions. Market players are taking measures to recycle the E-Waste in order to reduce the pollution and environmental hazards caused by it. In June 2014, Dell, a leading computer manufacturer launched its first computer that is made of plastics obtained from recycled electronics. The company has started selling its first computer “the OptiPlex 3030” which is made up of old electronics using a closed loop recycling process. Recently, Dell has also started using recycled plastics in its other desktops and monitors. Millions of refrigerators, TV sets and cell phones are replaced with newer versions due to user’s growing inclination towards technologically advanced gadgets. In 2010, US discarded about 258 million units of computers, cell phones, TV sets and monitors. North America is a leader in exporting E-waste to developing countries such as China and Japan. This exported E-Waste is then recycled in developing regions which generates revenue for the market
The global E-Waste market is segmented by E-waste source and type. Presently, a market trend is observed in North America that highlights the fact that the majority of E-Waste is trashed to developing countries, rather than recycling or reusing them. Developing countries lead in recycling the E-Waste, as the majority of E-Waste is exported to emerging countries by developed countries. Amongst all sources of E-Waste such as household appliances, IT and telecommunications and consumer electronics, refrigerator sets from household appliances are discarded in the highest number as compared to other household appliances. The decrease in the life cycle of electronic products viz. Computers, laptops, cell phones are generating large amounts of electronic waste in the North American region. Moreover, the region wise study of the global market is conducted to closely examine the effects of E-Waste in every country. The regions analysed are North America, Europe, Asia-Pacific and LAMEA. North America generates the largest revenue for the global market.
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