Published By : 17 Jun 2016 | Published By : QYRESEARCH
The global e-waste recycling and reuse services market is considered to be at a nascent stage. However, the market is expected to surge at an exponential pace in the near future primarily due to favorable government policies and the rising public awareness about concerns related to mounting e-waste. Furthermore, the market is expected to gain from the launch of the latest technologies, which shorten the life-span of existing electronic products and appliances.
Electronic wastes, also known as e-wastes, is a term used to explain electronic appliances and other electronic products nearing the end of their useful lives. For instance, computers, televisions, VCRs, mobile phones, fax machines, and copiers fall in the category of e-waste when they stop functioning. Besides this, obsolete electronic gadgets are also considered e-wastes. These electronic devices are therefore dumped after the end of their lives, which aggravates the already persistent problem of environmental pollution.
Global E-waste Recycling and Reuse Services Market to Gain from Favorable Government Policies
It has therefore become imperative for governments to explore ways of reusing or recycling the e-wastes. The implementation of such favorable government policies subsequently boosts the global e-waste recycling and reuse services market. E-waste recycling and reuse include material processing and recovery, reuse and refurbishment, triage and de-manufacturing, asset management and logistics, and collection services. Demand for e-waste recycling and reuse services is therefore anticipated to increase at a significant pace in the near future.
According to a report published by Transparency Market Research, the global e-waste recycling and reuse services market is expected to reach US$41.36 bn by the end of 2019 from a valuation of US$9.84 bn in 2012. The market is pegged to report a CAGR of 23.06% between 2013 and 2019.
Europe Dominates Global E-Waste Recycling and Reuse Services Market
Regionally, the global e-waste recycling and reuse services market is segmented into Europe, Asia Pacific, North America, and Rest of the World. Among these regions, Europe holds the largest share in the market. The implementation of stringent regulations encouraging e-waste recycling and reuse has augmented demand from the Europe market. However, Asia Pacific is expected to emerge as the fastest growing market in the next few years due to the increasing availability of cheap labor and electronic waste in the region.