The green electronics manufacturing market produces electronic devices that minimize negative environmental impact through energy efficiency and use of recycled or non-toxic materials. Devices such as electronic vehicles, renewable energy components, LED lighting, eco-friendly laptops and smartphones are driving the demand for green electronics manufacturing. Green electronics manufacturing helps reduce harmful effects on the environment like greenhouse gas emissions, resources depletion and electronic waste.
The Global Green Electronics Manufacturing Market is estimated to be valued at US$ 99.03 Billion in 2024 and is expected to exhibit a CAGR of 25% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Green Electronics Manufacturing are Nokia, RIM, Toshiba, Samsung, Sharp, Philips, HCL Info system, LG, Apple, Dell, Sony, HP, Acer, Panasonic, VIA, Simmtronics, View Sonic, and Lenovo. These key players are investing in R&D to develop innovative green technologies and bring eco-friendly electronics products to the market.
The rising awareness about environmental sustainability and increasing regulations on carbon emissions are fueling the demand for Green Electronics Market Growth. Consumers preferences are shifting towards purchasing electronic goods that minimize environmental footprint which is benefiting the green electronics manufacturers.
The green electronics manufacturing market is expanding rapidly across regions. Companies are setting up new production facilities and collaborating with local players to tap markets in Asia Pacific, Europe, North America and Latin America driven by the supportive government policies and subsidies for green technologies adoption in these regions.
Market key trends
One of the major trends in the green electronics manufacturing market is the use of recycled materials. Companies are focusing on recycling precious metals like gold, silver, copper used in circuit boards and other electronics components to manufacture new devices. This is helping reduce waste generation and lower cost of production. The green electronics manufacturers are also innovating with new kinds of biodegradable and nontoxic materials to minimize environmental impact of electronic goods over their entire life cycle.
Porter’s Analysis
Threat of new entrants: High capital investments required and advanced technologies and skills act as entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power as they can choose from various manufacturers and substitute technologies. However, switching costs are high for large orders.
Bargaining power of suppliers: Suppliers of parts and components have moderate bargaining power due to availability of substitute suppliers and limited dependence of OEMs on individual suppliers.
Threat of new substitutes: Substitute technologies like e-paper and OLED display pose moderate threats due to technological limitations currently.
Competitive rivalry: Intense competition exists among existing players to gain market share through pricing, innovation and brand recognition.
Geographical concentration
The North American region currently accounts for the largest share in terms of value owing to presence of key players and developed economies supporting adoption of green technologies.
Fastest growing region
Asia Pacific region is projected to grow at the fastest CAGR during the forecast period supported by rising electronics manufacturing in countries like China, Taiwan and growing focus on green initiatives in Japan, South Korea.