E-Waste Management Market Share

North American Market Forecast   

In e-waste management market, North American region is likely to hold substantial revenue share by 2037. The market growth in the region is attributed to the rising demand and sales of mobile phones followed by a rise in the per capita income in the region. For instance, in January 2022, the value of smartphones sold in the United States jumped by USD 1.7 billion, bringing total sales to USD 74.7 billion. In 2019, the US produced 6.92 million tons of electronic garbage, or 46 pounds per person. Only 15% of the material was recycled.

Europe Market Forecast

On the other hand, the market in Europe is expected to register a significant growth in the coming years. Electronic garbage including electronics and smartphones is among the fastest-growing electronic waste in Europe. E-waste recycling is important because of explosive growth in electronics and electrical equipment waste, high mining costs, and lack of valuable metals. A significant amount of overall garbage constitutes electronic and electric waste. Strict rules and regulations have been introduced in European countries taking into consideration the lack of land for waste disposal and rising pollution.

APAC Market Statistics

Asia Pacific is estimated to have the largest market share in the forecast period. Owing to continuous innovation and low-cost new products advancement had a substantial impact over the original life lifetime of electronic devices like computers or laptops. Sales of electronic devices over the past few years have generated a huge amount of e-waste in the region. More sales of electronic devices and failure to fix the damaged electronic devices are leading to the growth of more e-waste. Usually, the cost of repairing a device is more than the new product which forces people to buy a new product. However, multiple effective e-waste management treatments have been introduced from developed countries into developing countries including Pakistan, India, and China.