Home appliances such as refrigerators, washing machines, air conditioners and other electronic equipment are inevitable part of modern households. Rising adoption of such appliances in line with increasing disposable income has led to shorter replacement cycles and higher obsolescence rates. As a result, large volumes of discarded appliances require proper management to curb environmental pollution. Home appliance recycling involves dismantling and shredding of old or non-functional appliances to recover materials such as ferrous and non-ferrous metals, plastics and others that can be reused in manufacturing processes. It not only promotes circular economy but also helps reduce carbon footprint arising from landfilling and incineration.
The global home appliance recycling market is estimated to be valued at US$ 21.27 Million in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Growing preference towards sustainable disposal of waste appliances is a major factor propelling the demand for home appliance recycling services. Rising environmental awareness among consumers regarding hazards of dumping old refrigerators, air conditioners and other gadgets has prompted them to opt for responsible recycling through organized players. This driver mentioned in the heading is expected to flourish the home appliance recycling market during the forecast period.
Moreover, stringent regulations regarding end-of-life management of appliances coupled with policies incentivizing recycling are further fueling the market growth. Various regions have either banned landfilling or incineration of discarded appliances or imposed high taxes on non-recycled waste to encourage channelizing them through formal recycling systems. This is positively impacting proliferation of home appliance recycling infrastructure and collection programs across the globe.
The home appliance recycling market is segmented based on product type into refrigerator, washing machines, air conditioners, microwave ovens, dryers, dishwashers and others. The refrigerator sub segment dominates the market and is expected to continue its dominance over the forecast period. This is due to increase in average life of refrigerators from 8-10 years to 12-15 years which leads to generation of higher volumes of end-of-life refrigerators for recycling.
Political: Stringent regulations regarding e-waste management and recycling targets set by governments across countries is driving the adoption of home appliance recycling.
Economic: Rising disposable incomes and higher spending on purchase of home appliances is increasing the volume of used and obsolete appliances for recycling.
Social: Increasing awareness among consumers about sustainable waste management and harmful effects of improper e-waste disposal is positively impacting the market growth.
Technological: Advancements in material recovery technologies like shredding, bulk material handling, separation and purification aids in efficient recycling of various components from home appliances.
The Global Home Appliance Recycling Market Growth is expected to witness high over the forecast period. The global Home Appliance Recycling Market 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 2031.
Regionally, North America accounts for the largest share in the market currently due to rising e-waste volumes and well established recycling infrastructure in the region. Europe is also considered a major market owing to favorable regulatory environment encouraging collection and recycling targets.
Key players operating in the home appliance recycling market are Club Car, LLC, Yamaha Golf-Car Company., E-Z-GO, EverGreen Electrical Vehicles, Columbia ParCar Corp, Hitachi Chemical Co., Ltd. The growth of the market is attributed to increasing government regulations regarding e-waste management and recycling targets set by governments across countries globally.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it