Home appliances such as refrigerators, washers, dryers and stoves require proper disposal methods at the end of their lifecycles to ensure safe processing of raw materials and prevent environmental hazards. Home appliance recycling involves dismantling end-of-life appliances and recovering various components such as metals, glass and plastics for further processing. Some key appliances targeted in recycling programs include refrigerators, freezers, dishwashers, clothes washers/dryers, water heaters, trash compactors, air conditioners and dehumidifiers.
The Global Home Appliance Recycling Market Demand is estimated to be valued at US$ 21.27 Mn in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Home Appliance Recycling are Club Car, LLC, Yamaha Golf-Car Company., E-Z-GO, EverGreen Electrical Vehicles, Columbia ParCar Corp, Hitachi Chemical Co., Ltd. With growing environmental consciousness, recycling of home appliances is gaining significant traction worldwide. Various regulations mandating producers' responsibility for collection and recycling at end-of-life is fueling market opportunities. Moreover, reverse logistics and collection infrastructure for processing waste appliances are witnessing improvements. On the technological front, innovations in materials recovery help achieve higher recycling rates.
Major consumer goods manufacturers are actively involved in recycling schemes for their appliances to comply with regulatory norms. Growing consumer awareness about sustainability and responsible consumption is augmenting the recycling trend. Various initiatives undertaken by governments and industry players to promote recycling are likely to propel market gains. Moreover, a large existing stock of obsolete appliances requires optimized waste management practices.
Market Trends
The rising adoption of smart connected home appliances is a key trend gaining ground in the home appliance recycling market. These Internet of Things (IoT) enabled products make remote monitoring and automating appliance functions, which allows for better waste management. Another major trend involves using digital platforms for enhancing reverse logistics like collection regimes for obsolete appliances through on-demand pick-up services.
Market Opportunities
Thermal recycling technologies provide an effective solution for processing mixed plastic streams from waste home appliances. These methods can convert plastics into useful fuel without separating different resins. Additionally, leveraging artificial intelligence and blockchain distributed ledgers can optimize collection networks and ensure transparency in recycling processes. This helps drive higher rates of material recovery.
Impact of COVID-19 on Home Appliance Recycling Market Growth
The outbreak of COVID-19 has significantly impacted the growth of home appliance recycling market. During the initial phase of lockdowns, the collection and recycling of end-of-life home appliances declined sharply as recycling centers were closed due to safety restrictions. Moreover, the supply chain disruptions also created shortages of raw materials required in appliance manufacturing. This led to a decline in the production of new appliances which in turn reduced the volume of recycled appliances. However, as lockdowns eased, the recycling activities resumed while following necessary safety protocols. With people spending more time at home, the demand for home appliances increased which is boosting the recycling of old units. The manufacturers are also relying more on secondary raw material from recycled appliances to overcome shortages and reduce production costs. Going forward, sustainable recycling practices are expected to gain prominence to promote circular economy post pandemic.
North America currently accounts for the largest share of home appliance recycling market in terms of value. Countries like US and Canada have stringent regulations in place regarding the proper disposal and recycling of end-of-life appliances. Additionally, presence of major appliance manufacturers along with developed collection and recycling infrastructure has made North America a leader in this market. Meanwhile, the Asia Pacific region is anticipated to be the fastest growing market during the forecast period. Factors such as increasing consumerism, growing middle class population as well as implementation of new environmental policies are fueling the demand for appliance recycling in Asia Pacific countries, especially in China and India.
Geographical Regions with High Home Appliance Recycling Market Concentration
North America has traditionally been a region with high concentration of home appliance recycling market value due to strict regulatory push and established collection infrastructure. Countries like US and Canada account for over 40% share of global market currently. Major appliance manufacturers are located in the region which ensures availability of end-of-life units for recycling. Additionally, high consumer spending power enables regular replacement of older appliances. Thus North America is anticipated to retain its leading position in the coming years as well.
Europe is another region that has been proactive in adopting appliance recycling programs to promote circular economy. Countries like Germany, UK, France and Italy have set collection targets to achieve high recycling rates. Growing ‘zero waste’ movement among consumers is supporting market growth. Europe accounts for around 30% share of current global recycling market value mainly driven by Western European nations. Though impacted by COVID-19, the region is expanding recycling infrastructure to boost post pandemic recovery.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the home appliance recycling market include Mitsubishi Materials, ARCA, Focus on Energy, Responsible Recycling Services, Recycling Near You, Ethical Consumer, RecycleCT, Panasonic, Georgia Power, Jingdong, Gome, Suning.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Home Appliance Recycling Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/home-appliance-recycling-market/download-sampleMarket DynamicsThe growing burden of electronic waste worldwide and stringent regulation in countries like Japan, China, the US, Europe, and Australia drive the global home appliance recycling market.
According to Global E-waste Monitor, in 2019, the world generated a striking 53.6 metric ton of e-waste and is projected to rise to 74.7 metric tons in 2030.
Home appliances hold a significant share of this burden.
Growing electronics use, rapid expiration of home appliances, increasing awareness regarding recycling appliances, a growing number of countries enacting laws for electronic waste, and advancing electronic recycling technologies is fuelling market growth.
