New York, June 28, 2021 (GLOBE NEWSWIRE) – Battery Recycling Market Overview: According to a Comprehensive Research Report by Market Research Future (MRFR) “Battery recycling market Research report, by chemistry, application, source and region – forecast to 2027 ” The market size will grow from $ 17.2 billion in 2020 to $ 25.10 billion by 2027, with a sustainable CAGR of around 6.25% from 2020 to 2027.
The growth of the battery recycling market is mainly driven by increasing concerns about the disposal of battery waste and strict government guidelines in light of the increasing use of lithium-ion batteries. This increase in usage is due to the decline in the price of lithium-ion batteries and the proliferation of electric vehicles, which largely depend on this type of battery. The toxic waste from manufacturing new batteries is much higher than the toxic waste from recycling. This is a major reason why many governments have introduced favorable regulations for this industry, and these regulations are likely to keep the battery recycling market trends growing.
This report provides an in-depth analysis of Battery Recycling Market value, providing insight into the various factors that are expected to prevail and affect the global Battery Recycling industry throughout the forecast period while keeping in mind the various market dynamics.
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The key players in the Global Battery Recycling Market are:
- Call2Recycle, Inc. (USA)
- Battery Solutions, LLC (USA)
- Exide Technologies (USA)
- Umicore (Belgium)
- Exide Industries Ltd. (India)
- Contemporary Amperex Technology Co. Ltd. (CATL) (China)
- GEM Co., Ltd. (China)
- EnerSys (USA)
- Johnson Controls International plc (USA)
- Aqua Metals, Inc. (USA)
- Retrieval Technologies Inc. (USA)
- Gravita India Limited (India)
- ECOBAT Logistics (Great Britain)
- Fortum Oyj (Finland)
- Teck Resources Limited (Canada)
- American Manganese Inc. (Canada)
- Glencore International AG (Switzerland)
- TES-AMM Singapore Pte Ltd (Singapore)
- RSR Corporation (USA)
- COM2 recycling solutions (USA)
- East Penn Manufacturing Company, Inc. (USA)
- The Doe Run Company (USA)
- Raw Materials Company Inc. (RMC) (Canada)
- Neometals Ltd (Australia)
- Terrapure Environmental (Canada)
- Gopher Resource LLC (USA)
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The global battery recycling market has been segmented based on chemistry, application, and source. Based on chemistry, the world market is divided into lead acid, nickel base, lithium base and others. The lead-acid segment is expected to hold a larger market share and grow the fastest over the forecast period. This is due to the recyclable nature of lead-acid batteries and their broader uses compared to other types of battery chemistry. Depending on the application, the battery recycling market is divided into transportation, consumer electronics, industrial, and others. The industrial segment holds the largest share due to the various uses of batteries in a wide variety of industries with applications in UPS systems, forklifts, emergency power supplies and heavy machinery, among others. In addition, countries such as Japan, China, the USA and India are expanding their battery recycling plants. Based on the source, the global Battery Recycling Market has been segmented into Car Batteries, Industrial Batteries, and Batteries for Consumer Electronics. The automotive battery segment is expected to hold the largest share of the global battery recycling market.
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The Battery Recycling Market has been segmented into five regions namely Asia-Pacific, Middle East and Africa, Europe, North America, and South America. The Asia-Pacific region is expected to hold the largest share of the market over the forecast period. This is mainly because countries in the region are focusing heavily on battery recycling to reduce soil and water pollution. In the Asia-Pacific region, China held the largest market share in 2018 due to the increasing demand for electric vehicles. While the battery recycling market is expected to grow at the fastest CAGR in India and China, the forecast period is expected due to initiatives for the policies and programs related to environmental regulations to contain health threats. In North America, the US held the largest market share and is expected to grow and recycle at the fastest CAGR during the forecast period due to R&D programs and initiatives to profitably collect 90% of all lithium-based batteries in the US to be collected. In Europe, Germany had the largest market share in 2018 and is expected to grow the fastest in the forecast period. The countries of the region are supported by the European Union to achieve a high recycling rate of batteries in order to reduce water pollution. In the Middle East and Africa, the United Arab Emirates is expected to be one of the leading markets for battery recycling.
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Segmentation of the Market Covered In Research:
Information by chemistry (lead acid, nickel base, lithium base and others), application (transportation, consumer electronics, industry and others), source (car batteries, industrial batteries and batteries for entertainment and electronic devices), and region – forecast to 2027
This Battery Recycling market analysis report offers an in-depth analysis of the Battery Recycling market forecast along with the current and future market trends. Some key factors that this report explores in depth are:
- The various developments of the major market players and their overall medium to long-term impact on the battery recycling market.
- A detailed analysis of the impact of changes in government policy on the global battery recycling market.
- This report highlights the key drivers, opportunities, and restraints of the global battery recycling industry, along with the impact analysis over the forecast period.
- This report also provides a comprehensive Battery Recycling market analysis covering key market dynamics and impact of Covid-19 on the industry ecosystem.
About the future of market research:
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