by The green electronics manufacturing market involves manufacturing electronics and electrical equipment in an environment-friendly way by reducing carbon footprint and ensuring disposal of e-waste in a responsible manner. This includes recycling metals such as gold, copper, and steel from discarded gadgets and their components. Such eco-friendly practices help in conserving natural resources and minimizing pollution. The rising awareness among consumers about the environmental impact of electronics production is driving the adoption of green electronics across industries.
The Global green electronics manufacturing market is estimated to be valued at US$ 99.03 Bn 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 players are focusing on developing innovative and environment-friendly production technologies to manufacture electronics in a sustainable way.
The growing need for eco-friendly alternatives is opening up opportunities for companies to invest in green solutions and technologies across various industry verticals. Manufacturers are advancing their recycling and waste management programs to address the e-waste challenge.
Stringent government regulations regarding carbon emissions and electronic waste disposal in various countries are further driving the global expansion of Green Electronics Manufacturing Market Demand. Manufacturers are increasingly adopting green practices to comply with regulations and expand their international reach.
Market drivers
Increasing consumer awareness about the environmental impact of electronics production is a key driver boosting the adoption of green electronics manufacturing. Consumers are now preferring electronic brands that are incorporating greener practices like recycling, reducing carbon footprint, and ensuring proper e-waste disposal. This rising consumer demand for sustainable electronics is compelling manufacturers to focus on environment-friendly manufacturing.
PEST Analysis
Political: Government regulatory bodies are pushing for greener manufacturing standards and have imposed strict emission control regulations which favor green electronics manufacturing.
Economic: Consumers are increasingly willing to pay a premium for sustainably manufactured electronics. Cost of raw materials for green production is also coming down.
Social: Rising environmental awareness among public has increased demand for electronics from green and sustainable sources. Social media is influential in spreading awareness.
Technological: Innovation in recycling and waste management allows greater recovery and reuse of materials. Energy efficient production processes minimize carbon footprint.
Geographical regions with high market concentration
The consumer electronics market in North America and Western Europe collectively account for over half the value of the total green electronics manufacturing market owing to stringent environmental norms and higher consumer affordability in these regions. Countries like the US, Germany, UK, and France are hubs for sustainable electronics production.
Fastest growing regional market
Asia Pacific region especially China is witnessing fastest growth in green electronics manufacturing market driven by rising domestic demand, favorable government policies, and presence of large export-oriented manufacturing base. Countries like India and Indonesia are also emerging as important production locations.
