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SOURCE: TechSci Research
Increasing obsolesce rate of electrical and electronic equipment, rising government focus and escalating corporate awareness towards harmful effects of electronic waste to drive E-Waste market many folds in India
(PRWEB) February 24, 2013
Proving the quote “nothing lasts forever” to be correct, India has witnessed entry and exit of many electrical and electronic equipment’s in the past two decades. Every now and then the market is flooded with various new electrical and electronic products ranging from refrigerators to music players. As new products enter the market old products find their way on the backyard of the compounds or on the scrap market and end up as e-waste, fuelling the WEEE recycling market.
According to the recently published report by TechSci Research, a global management consulting firm “India Waste Electrical and Electronic Equipment (WEEE) Recycling Market Forecast and Opportunities, 2017”, the Indian WEEE recycling market will grow beyond USD 100 Million by 2013. The research found that only 5% of the total e-waste generated in India is recycled annually, this presents a huge scope of growth for the industry. The decreasing life span of electrical and electronic equipments, increasing disposal from government departments and increasing value of commodities are expected to drive the volume proportion of WEEE recycled to grow up to 25% by 2017.
According to Karan Chechi, Research Director at TechSci Research, “The India WEEE recycling market can realize its full potential only if capacity utilization and raw material procurement can be improved by the recyclers in the organized sector.” The current capacity utilization rate is 28% which can be easily improved by proper planning and project management. It is estimated that India Ewaste market will reach USD 100 Million by 2013 growing at an exception rate on the side lines of its drivers.
The Indian WEEE recycling market is highly fragmented with the presence of more than 75 companies from organized sector. The organized sector has been constantly facing intense competition from the unorganized local counterpart. The unorganized sector commands a strong presence in the market on the back of their better access to electronic and electrical scrap. However, increasing governmental policies and norms to recycle E-Waste is also crushing the unorganized sector which uses wrong practices to extract the desired components.
“India Waste Electrical and Electronic Equipment (WEEE) Recycling Market Forecast and Opportunities, 2017” has evaluated the future growth potential of Indian E-waste market and provides statistics and information on market structure, production and sales trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
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