The Green Electronics Revolution will Pave the Way for
Future Growth

The global green electronics manufacturing market is
estimated to be valued at US$ 20.04 billion in 2024 and is expected to exhibit
a CAGR of 25% over the forecast period from 2024 to 2031. Green electronics
products are manufactured with the aim of reducing the environmental impact by
using less hazardous and toxic substances in production and improving energy
efficiency. Some of the key advantages of green electronics include reduced
e-waste, lower energy consumption, and the use of less toxic and hazardous
materials. Rapid growth in devices such as consumer electronics as well as the
need for sustainability is driving the demand for green electronics worldwide.



Key Takeaways

Key players operating in the Green
Electronics Manufacturing Market Companies include 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
continuously investing in R&D activities and innovations to manufacture
eco-friendly consumer electronics.

The rising environmental consciousness among consumers and stringent government
regulations regarding the usage of hazardous substances such as lead, mercury,
cadmium, etc. are fueling the demand for green electronics. Furthermore, the
growing adoption of electronic devices is also driving the need for sustainable
alternatives.

Technological advancements such as miniaturization, energy-efficient
semiconductors, and efficient power management are helping electronic product
manufacturers reduce the carbon and environmental footprint of their products.
Companies are also focusing on designing products with recyclable and reusable
components to support the circular economy.



Market Trends

The growing adoption of renewable energy sources: Major electronics
manufacturers are increasingly powering their facilities and operations through
renewable energy sources like solar and wind to reduce carbon emissions.

Eco-conscious product design and packaging: Companies are designing products
and packaging with recyclability and reuse in mind. More electronic components
are being made from recycled plastic, wood, and other sustainable materials.

Increasing adoption of renewable energy-sourced green IDCs: Major cloud and
internet service providers are investing in renewable energy powered green
Internet Data Centers (IDCs) to power their cloud operations sustainably.



Market Opportunities

Customers are willing to pay a premium for sustainable products: With
rising eco-consciousness, customers are ready to pay slightly higher prices for
green electronics that are environment-friendly.

Government subsidies and tax benefits: Favorable regulatory policies in the
form of subsidies, tax rebates on the sale of green electronics products, and
investments in renewable energy offer lucrative opportunities.



Impact of COVID-19 on Green Electronics
Manufacturing Market



The COVID-19 pandemic has significantly impacted the Green
Electronics Manufacturing Market Share. During the initial stages of
the pandemic in 2020, the market experienced a decline in growth owing to
lockdowns imposed across major countries. This resulted in disruptions across
the global supply chain as well as declining consumer demand and spending. As a
result of lockdowns and safety measures, production volumes reduced
significantly putting pressure on revenues of key market players.



However, as economies are recovering and reopening in a phased manner post
vaccination drives in 2021, the market is witnessing a revival in growth. The
pandemic has highlighted the importance of sustainability and environment
protection. Consumers are now preferring green and eco-friendly electronics
products. Manufacturers are also focused on developing more sustainable
products with minimal environmental impact. They are optimizing existing
manufacturing supply chains to adopt greener practices and enhance resource
efficiency. Government incentives and policies supporting eco-innovation are
further boosting market growth. With economic activities reaching pre-COVID
levels and rising consumer spending expected, the market is anticipated to
expand at a rapid pace. Ongoing technological advancements will also support
the market trajectory.



Geographical Regions with Highest Market
Value

North America holds the largest share of the global green electronics
manufacturing market in terms of value. This is owing to stringent government
regulations regarding emission norms and waste management practices in the
region. Rising environmental awareness among consumers has further boosted the
adoption of greener electronics.



Asia Pacific Region with Fastest Market
Growth

Asia Pacific region is poised to witness the fastest growth in the green
electronics manufacturing market during the forecast period. This is attributed
to the presence of emerging economies like China and India which are the
largest electronics manufacturing hubs globally. Growing focus of key players
and Original Equipment Manufacturers (OEMs) in the region on adopting
sustainable practices will accelerate regional market growth over the coming
years.

Get more insights on Green Electronics
Manufacturing Market

Explore more Article
related Training
Market

Unlock
More Insights—Explore the Report in the Language You Prefer

• French


• German


• Italian


• Russian


• Japanese


• Chinese


• Korean


• Portuguese

About
Author:

Ravina
Pandya, Content
Writer, has a strong foothold in the market research industry. She specializes
in writing well-researched articles from different industries, including food
and beverages, information and technology, healthcare, chemical and materials,
etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)