by Home appliances such as refrigerators, washing machines, dishwashers and air conditioners are becoming more durable but their disposal is increasingly becoming an environmental and health hazard. There is a growing need to responsibly dispose and recycle old appliances to reduce toxic e-waste. The home appliance recycling market provides an important solution to this issue through collection, dismantling and shredding of discarded appliances to recover materials such as ferrous and non-ferrous metals, plastic and glass which can then be reused in new manufacturing. Growing awareness about sustainability and corporate social responsibility along with stringent government regulations mandating proper e-waste disposal are driving growth in home appliance recycling services. 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 key trends:
One of the key trends in the home appliance recycling market is the adoption of advanced shredding technologies to improve the recovery rate of resources from disposed appliances. Companies are investing in large industrial shredders equipped with magnetic separators, eddy current systems and optical sorting technologies to dismantle complex assemblies and extract ferrous, non-ferrous and plastic components more efficiently. This is helping increase recycling yields and make recycling more commercially viable. There is also a shift towards developing automated disassembly lines using robotics, conveyor belts and computer vision to streamline collection, disassembly and material segregation processes. This is helping recycling companies improve productivity and capacity while ensuring worker safety.
Porter’s Analysis
Threat of new entrants: The home appliance recycling market requires significant investment for collection and processing facilities. Established players have strong brand recognition and regulatory approvals which pose barriers for new entrants.
Bargaining power of buyers: Individual consumers have low bargaining power due to the fragmented nature of the market. However, large retail chains and manufacturers can negotiate higher prices for recycled materials.
Bargaining power of suppliers: Companies depend on OEMs and retailers for supply of end-of-life appliances. However, established collection networks decrease supplier bargaining power.
Threat of new substitutes: No close substitutes exist for recycling services. Alternative waste management options like landfilling are being replaced due to stringent regulations.
Competitive rivalry: The market features both global and regional players. Intense competition exists regarding collection volumes and quality of recycled materials.
Key Takeaways
The global Home Appliance Recycling Market Growth is expected to witness high supported by stringent environmental regulations encouraging reuse and recycling. The Asia Pacific region currently dominates the market owing to large production volumes and recycling initiatives in major economies like China and India.
Regional analysis: Asia Pacific accounts for over 35% of the global market share led by countries like China, Japan and India. Favorable government policies and increasing environmental awareness are fueling market growth. Europe is the second largest region with well-established recycling infrastructure and recycling targets set by EU directives.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
