E-Waste Management Market in India to Grow at Around 30% during 2014-19, Says TechSci Research
BURNABY, British Columbia, May 28, 2014 /PRNewswire/ --
Large Household Appliances and IT / Telecom Sectors Account for Majority of E-Waste Generation in India
E-Waste or Electronic Waste is generated by old, discarded or obsolete electronic products. Electronic waste is highly toxic in nature as it contains hazardous metals such as lead, mercury, cadmium, etc. In India as well as other developing countries, majority of the electronic products are not recycled, which poses a serious environment and health risk. In India, E-Waste management and recycling market faces major challenges due to lack of proper regulatory interface and supporting infrastructure. E-Waste in the country is primarily generated from large household appliances and Information Technology and Telecommunications sectors. In the coming years, as the technology advances, lifespan of products would become shorter, resulting in replacement of existing products with the new ones, which would result in further increasing generation of E-Waste.
According to a recently published report by TechSci Research, "India E-Waste Management Market Forecast & Opportunities, 2019", the country's E-Waste market is expected to grow at a CAGR of around 30.6% during 2014-19.The Southern and Western regions are the largest contributing regions in the country's E-Waste market due to the presence of various IT hubs such as Chennai, Bangalore and Hyderabad. However, the country's Western and Northern regions are also growing at a significant rate due to introduction of new recycling facilities, especially in Delhi/NCR region.
"The enforcement of E-Waste management laws by the government of India for proper and regularized management, disposal and recycling of E-Waste is setting a new trend in the market. Since, in India, majority of the E-Waste is processed by the unorganized sector, introduction of stringent regulations is expected to significantly benefit the organized players over the next five years," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
India's E-Waste market has been divided into various segments including IT and Telecom, Large Household Appliances and Consumer Electronics. Some of the key products generating most of the E-Waste in the country includePCs, mobile phones, refrigerators, washing machines, laptops, televisions, etc. Attero, Ecoreco, SIMS Recycling, Earth Sense Recycle, and TSS-AMM are the major E-Waste recycling and management players operating in the country. These players are focusing on increasing consumer awareness, while also working towards bridging the gap between the organized and unorganized E-Waste management market in India.
"India E-Waste Management Market Forecast & Opportunities, 2019" has evaluated the future growth potential of E-Waste management market in India and provides statistics and information on market structure, market trends, market size, etc. The report includes E-Waste management market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in E-Waste management market in India.
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SOURCE TechSci Research