Green Electronics Manufacturing Market Soars: Projected 26.14% CAGR to Reach US$177.01 Billion by 2033

The Green Electronics Manufacturing Market is set for a remarkable upswing, with projections showing a robust Compound Annual Growth Rate (CAGR) of 26.14% between 2023 and 2033. Starting at US$ 17.36 billion in 2023, the market is forecasted to soar to an impressive US$ 177.01 billion by 2033.

With the environmental revolution gaining momentum, electric motor controls are demanding greater efficiency from industrial motors. Furthermore, increased integration at the lowest possible cost is critical for promoting new technology market penetration as well as improving safety and dependability. This raises the demand for electrical components used in digital signal controllers in smart motors to control voltage.

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Furthermore, Industry 4.0 promises significant gains in manufacturing data automation efficiency and production. Growth is being fueled in part by parallel advancements in industrial IoT and artificial intelligence (AI). Although the electronics industry is still a long way from achieving the same level of intelligence and automation as the automotive industry, recent trends in the electronics manufacturing services sector demonstrate the evolution toward Industry 4.0.

This market is being propelled forward by the production of electronics for industrial automation. Players in industrial automation want consistent access to all data generated on the system. Because of the size of many operational utility applications, gathering this level of data is difficult. Regions such as Europe and North America are rapidly implementing Supervisory Control and Data Collection systems to collect precise data.

Most SCADA systems are made up of single-board remote terminal units (RTUs), which are tiny, ruggedized devices that house all input/output (I/O) modules on a single printed circuit board. As a result, the growing use of SCADA in the utility industry pushes up demand for EMS. 

Key Points from the Green Electronics Manufacturing Market 

• The market is expected to surpass US$ 177.01 billion by 2033.  

• The ever-increasing popularity of products such as smartphones, smart TVs, laptops, ovens, refrigerators, air conditioners, and tablets, as well as the growing need for faster and more efficient manufacturing processes, are driving market expansion. 
• Green electronics manufacturing market is expected to grow at a CAGR of 26.14% during the forecast period 2023 to 2033. 
• Asia Pacific dominated the green electronics manufacturing market. 

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Key Development in the Green Electronics Manufacturing Market 

• January 2022 – Samsung Electronics said that it intends to use 100% renewable energy in all of its plants, offices, and data centers in the United States, Europe, and China by 2025. 
• December 2021 – Apple Inc. announced a new carbon removal project, with the goal of eliminating more carbon from the atmosphere than the firm creates. A $200 million fund is established as part of the proposal to invest in forestry initiatives. 
• October 2021 – LG Electronics revealed its intention to attain carbon neutrality by 2030. The corporation intends to cut greenhouse gas emissions by half by 2020. 
• September 2021 – Dell Technologies launched its new sustainability plan, Progress Made Real: 2030, with goals of reducing greenhouse gas emissions by 50%, using 100% recycled or renewable materials in its products by 2030, and advancing the circular economy. 
• March 2021 – Ouster, Inc. collaborated with Benchmark Electronics, Inc. to increase the production of its high-resolution digital LIDAR sensors for smart infrastructure, robotics, industrial automation, and automotive industries. To increase production, the company is leveraging Benchmark Electronics, Inc.’s capabilities in PCB assemblies, optics, microelectronics, and automated testing.