The global Home Appliance Recycling Market is estimated to be valued at US$ 18.46 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Home appliances such as refrigerators, ACs, washing machines etc constitute a major portion of urban household waste. Home Appliance Recycling helps in proper disposal and recycling of older appliances to recover scrap materials and reduce environmental impact. It also helps in repair and reuse of some appliances through refurbishing.
Market key trends:
One of the major trends driving the growth of Home Appliance Recycling Market is increasing adoption of smart, Internet-connected appliances. With growing popularity of AI-enabled, voice-controlled smart home appliances, more number of older conventional appliances are being replaced leading to higher volumes of e-waste. Home Appliance Recycling sector is equipped to safely dispose-off such smart appliances to extract reusable materials while ensuring data security through complete data wiping techniques during recycling process. This emerging segment is projected to fuel significant growth in the Home Appliance Recycling industry over the forecast period.
Segment Analysis
The home appliance recycling market is segmented into channels, products, and applications. Among the channels, door-to-door segment is dominating the market due to its ease of recycling and less effort required from consumers. Under channels segment, door-to-door collection is picking up popularity among consumers as it offers hassle-free recycling experience without taking extra efforts to transport the appliances.
Key Takeaways
The global Home Appliance Recycling Market Growth is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing environmental regulations regarding e-waste recycling and proper disposal.
Regional analysis
North America region accounts for the fastest growing region in the home appliance recycling market due to strong presence of recycling infrastructure and policies supporting e-waste recycling. Stringent regulations regarding proper e-waste disposal and recycling are driving the home appliance recycling market in the region.
Key players
Key players operating in the home appliance recycling market are ARCA Recycling, Canadian Appliance Recycling Inc, A2Z Home Appliances, UK Appliance Recycling Ltd, Energy Star, Morningside Recycling, Jingdong, A1 Appliances, GE Appliances, Best Buy, IKEA, Johnson Controls, ARCA Advanced Processing, LG Electronics, Samsung Electronics, Arc Recycling, DART Appliance Recycling, Godwin Appliance Recycling, UNTHA Recycling Technology, Mitsubishi Materials Eco-Recycle.
Read More,
https://www.insightprobing.com/home-appliance-recycling-market-trends-size-and-share-growth/
Comments
0 comment