Press release
Market Insight : Green and Recycled Mobile Phone Market Globally Grow at a CAGR of 17% by Revenue During the Forecast Period 2016-2019
Market outlook of the global green and recycled mobile phone marketThe global market for green and recycled mobile phones is expected to witness encouraging growth during the forecast period and is envisaged to post an impressive CAGR of nearly 17% by 2019. The introduction of initiatives such as the e-cycle and e-stewards certification to reduce the illegal and improper disposal of e-wastes is expected to foster growth in this market during the forecast period.
Augmented production of mobile phones is the key driver for the growth of this market. With the rise in mobile phone manufacturing, the amount of e waste generated also increases. The improper disposal of such waste products not only raises environmental concerns but also leads to resource depletion. Therefore, in order to overcome supply shortage during the manufacturing process, many enterprises are increasing focusing on the recycling of waste materials such as metal, batteries, and plastic.
Material-based segmentation of the green and recycled mobile phone market
Metal
Plastic
Others
Technavios market research analyst has estimated the plastic segment to account for more than 42% of the total market share by 2019. High market share of this segment can be attributed to factors like its ability to make the phone resistant to damage and its capacity to bring down the manufacturing cost.
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Geographical segmentation of the green and recycled mobile phone market
MEA
APAC
Europe
Americas
In this market research report, analysts estimate the Americas to lead the global market for green and recycled mobile phones during the forecast period. Rising consumer awareness pertaining to the importance of handling e-waste is a critical factor that drives growth in this region and results in its high market share of almost 53% by 2019.
Competitive landscape and key vendors
This market is highly competitive and is dominated by a few key players like Arrow and Cloudblue. The rapid penetration of mobile phones across the globe is expected to play a vital role in increasing the demand for e-waste management. On an average, a customer uses a mobile phone for about two years before purchasing a new product. This leads to an increase in the volume of waste being generated, which in turn brings about market growth during the forecast period.
Leading vendors analyzed in this market research are -
Arrow electronics
Cloudblue technologies
Corporate Mobile Recycling
Redeem
SIMS Recycling Solutions Holdings Inc
Other prominent vendors mentioned in this market study are Mazuma Mobile, ReCell One Inc., and ReCellular Inc.
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