The global electronic waste recycling market size can touch USD 99.67 billion by 2030. It can display 16.2% CAGR over the forecast period.
The market is driven by the increasing volume of electronic waste generated annually. Concerns over the effects of e-waste and depleting resources of minerals can drive the market demand. Waste management companies are going ahead and creating mobile applications for the convenience of customers and providing payment as incentive to boost responsible e-waste management. Entrepreneurs in Africa are procuring electronic equipment in large quantities to extract rare minerals and rebuild gadgets. Development of power banks made using recycled minerals is likely to favor the market growth.
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Which segment will provide the most chance for electronic waste recycling Market growth Analysis till 2030?
The global Industry segmented into electronic waste recycling Market Size, type, component, voltage, application and region. By type the segment is further classified into skid mounted and mobile electronic waste recycling Market. By component, the segment is further classified into switchgear, bus bar, HVAC systems, transformer, frequency drives, monitoring and control systems and others. By voltage, the segment, is further classified into low voltage and medium voltage electronic waste recycling Market. Electronic waste recycling Market are used in various industries such as oil and gas, mining, transportation, and power utilities.
Which Top Market Participants are Consider for the highest electronic waste recycling market share?
Aurubis AG, Enviro Hub Holdings Ltd, Electronic Recyclers International Inc., Boliden AB, Sims Metal Management Limited, GEEP Inc, Umicore S.A, Stena Technoworld AB, Attero Recycling Pvt. Ltd, and Tetronics International Limited are key players in the global electronic waste recycling market.
Europe to Dominate Global Electronic Waste Recycling Market
Europe is expected to dominate the global market owing to implementation of strict regulations on electronic device manufacturers. Corporate responsibility programs developed for creating awareness and making exchanges on date of non-use for safe disposal can drive regional market growth. Development of circular economy plans and the Right to Repair law for creating common chargers and standards and improve reusability can favor the regional electronic waste recycling market growth.
The market also benefits from the increasing research and development activities, resulting in the introduction of environment-friendly products that not only dissipate lower amount of heat but have enhanced mechanical properties. Another key trend gaining prevalence in the global market is the increasing focus on the electrification of vehicles, which is also giving rise to the production of light-weight vehicles and automotive brake friction products. The electronic waste recycling Market demand for in the developing regions can translate to tremendous business growth in the following period.
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Electronic Waste Recycling Market By Geography
Electronic Waste Recycling Market Covid 19 Analysis
Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.
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