North America E-Waste Management Market Trends, Revenue, CAGR Status, Challenges, Future Opportunities and Forecast Anal

Electrical or electronic equipment that has been abandoned is referred to as electronic rubbish, or e-waste. It is also referred to as trash electrical or EOL electronics. Used electronics intended for disposal, salvage recycling via material recovery, reuse, resale, or refurbishing are also included in the category of equipment trash. Improper handling of e-waste can seriously harm people's health and the environment in poor nations. The growing use of electronic products brought on by the digital revolution and scientific and technological advancements like bitcoin has given rise to the e-waste problem and hazard. Low recycling rates, short product life cycles, frequent model releases, and careless purchasing of electrical and electronic equipment are all contributing factors to the rapidly rising amount of e-waste.

According to SPER Market Research, ‘North America E-Waste Management Market Size - By Material, By Source, By Application, - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the North America E-Waste Management Market is estimated to reach USD 55,245.63 million by 2033 with a CAGR of 13.73%.

Drivers:

Growing awareness about the environmental impact of improper e-waste disposal has resulted in limitations and increased customer demand for eco-friendly alternatives. Businesses and individuals are seeking responsible e-waste management solutions. E-waste also contains valuable minerals, including gold, silver, and rare earth elements. The scarcity of these materials in their natural state has rekindled interest in recycling and recovery, accelerating the business. Aside from that, many organisations are establishing CSR projects that include responsible e-waste management as a component of their sustainability goals. This commitment to social and environmental responsibility promotes commercial growth. Aside from that, circular economy ideas like waste reduction, product reuse, and material recycling are gaining popularity. E-waste management is critical in achieving these principles.

Restraints:

E-waste disposal is one of the world's most pressing environmental challenges today. Electronic waste contains potentially harmful materials that, if improperly disposed of, could end up in landfills. This factor contributes to the soil's accumulation of heavy, poisonous, and harmful metals such as cadmium, lead, mercury, and arsenic. When these harmful compounds contaminate groundwater systems, they represent a major threat. Furthermore, hazardous elements escaping from e-waste may come into contact with landfill workers. Electronic trash includes computers, televisions, smartphones, printers, scanners, and fax machines.

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The COVID-19 outbreak resulted in lower consumption of electrical and electronic equipment in the first three quarters of 2020, particularly in the first and second quarters. This resulted in less rubbish generated by electrical and electronic devices. In low- and middle-income countries, the reductions were 30%, whereas in high-income countries, they were 5%. The digital gap is caused by population expansion in low- and middle-income countries, which leads to disparities in access to electronics and modern communication technology. Globally, inequality has a huge detrimental social impact.

North America has strict legislation and policies in place for e-waste collection and disposal. In the state of Victoria, it is unlawful to dump e-waste since it includes hazardous compounds and must be separated from other rubbish. The EPA enforces the Victorian Government's e-waste policy across the state. The existence of big recycling and reprocessing companies in the region is likely to drive the e-waste management industry forward. Aurubis Ag, Enviro-Hub Holdings Ltd, Sensoneo, Sims Lifecycle Services, Inc, Big Belly Solar, LLC, Waste Management Inc, and others are the market's leading companies.

North America E-Waste Management Market Segmentation

By Material Type: