Home Appliance Recycling Market is Estimated To Witness High Growth Owing To Circular Economy
Home Appliance Recycling Market The global Home Appliance Recycling Market is estimated to be valued at US$ 18.46 Billion In 2022 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Home appliance products such as refrigerators, washing machines, dishwashers, and air conditioners provide convenience to consumers and cater to their daily household needs. Refurbishing of these appliances helps reduce wastage and promotes eco-friendly reuse and recycling. Market key trends: One of the key trends in the home appliance recycling market is the transition towards a circular economy model. There is a rising focus on preserving resources through reuse and refurbishment of products at end-of-life. Home appliance manufacturers are recycling over 90% of the materials from old appliances through diverse collection, dismantling and material recovery programs. This is helping reduce la...