The green electronics manufacturing market is estimated to be valued at USD 99.03 Billion in 2031

A newly published report by Coherent Market Insights reveals a sustainable growth opportunity in the green electronics manufacturing market. Coherent Market Insights’ analyst projected the green electronics manufacturing market to be valued at USD 99.03 Bn in 2031. It is expected to exhibit a CAGR of 25.6% over the forecast period 2024 -2031.

Growth in environmental regulations concerning the management of electronic waste and the prohibition of the use of hazardous materials in the production of electronics boosts market growth. Manufacturers face pressure from these regulations and turn to more eco-friendly alternatives in the production process.

There are also increasing consumer awareness about green electronics, and the adoption of the said manufacturing practices. However, in some regions, high initial investment and lack of developed infrastructure may hinder the market.

Key market trends include Renewable Energy Integration: Major electronics manufacturers are integrating more renewable energy sources such as solar and wind power in their production facilities to reduce carbon footprint. For example, in 2020 Apple announced plans to power all its operations and supply chain from renewable sources by 2030.

Green Product Design: Many organizations are aiming for developing more environmentally-friendly, greener, and more sustainable electronics products. Ecofriendly products are the use of recyclable materials and avoiding hazardous chemicals while producing; a new developing electronic product area: biodegradable electronics.

Green Electronics Manufacturing Market Opportunities: The lead free and halogen free technology segment for green electronics manufacturing is expected to gain high growth during the forecast period. Due to its stringent regulations about the use of hazardous substances in electronic products all over the globe, the banned substance is also known as the driving force to lead free and halogen-free production.

The electronics manufacturing services segment accounts for the largest share of the overall green electronics manufacturing market currently. Widely adopted by OEMs and technology companies worldwide for outsourcing their production needs, electronics manufacturing services are ideal for green manufacturing. Offerings like engineering services, test and development implementation, logistics services help electronics brands achieve sustainability targets across their supply chains in a cost-effective manner.

Key Market Takeaways: The global green electronics manufacturing market is anticipated to witness a CAGR of 25.6% during the forecast period 2024-2031. This is owing to stringent government regulations on the use of hazardous substances in electronics.

On the basis of technology, the lead free and halogen free segment is expected to hold a dominant position, accounting for over 40% share. This is due to its cost competitiveness with traditional processes.

In terms of service, the electronics manufacturing services subsegment within is expected to hold a dominant position. This is owing to outsourcing of production requirements by OEMs and technology brands to EMS players focusing on sustainable manufacturing practices.

Regionally, North America is expected to hold a dominant position over the forecast period. This is due to early adoption of green manufacturing standards and presence of prominent EMS providers with sustainable manufacturing capabilities.

Competitor Insights: Key players operating in the green electronics manufacturing market include Nokia, Samsung, Toshiba, Panasonic, Philips, HCL Info system, Sharp, Simmtronics, View Sonic, Lenovo, LG, Apple, Dell, Sony, HP, and Acer.

Recent Developments: In January 2022, Samsung Electronics announced plans to use 100% renewable energy in its factories, offices, and data centers across the US, Europe, and China by 2025. More information in full report