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 till 2027” market size grows from USD 17.2 billion in 2020 to USD 25.10 billion by 2027 and register a sustained CAGR of about 6.25% from 2020 to 2027.
The battery recycling market growth is largely driven by rising concerns over battery waste disposal and strict government policies in light of the increased usage of lithium-ion battery. This increase in usage is attributable to the decline in lithium-ion battery prices and growing adoption of electric vehicles which largely depend on this battery type. The toxic waste that comes from manufacturing new batteries is much higher than the toxic waste generated while recycling them. That is a major reason many governments have introduced favorable regulations for this industry and these regulations are expected to have keep battery recycling market trends growing upwards.
This report provides and in-depth analysis of battery recycling market value and provides insights regarding the various factors expected to be prevalent and affect the global battery recycling industry throughout the forecast period taken various market dynamics into consideration.
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The major players in the global battery recycling market profiled are:
- Call2Recycle, Inc. (US)
- Battery Solutions, LLC (US)
- Exide Technologies (US)
- Umicore (Belgium)
- Exide Industries Ltd. (India)
- Contemporary Amperex Technology Co. Ltd. (CATL) (China)
- GEM Co., Ltd. (China)
- EnerSys (US)
- Johnson Controls International plc (US)
- Aqua Metals, Inc. (US)
- Retriev Technologies Inc. (US)
- Gravita India Limited (India)
- ECOBAT Logistics (UK)
- Fortum Oyj (Finland)
- Teck Resources Limited (Canada)
- American Manganese Inc. (Canada)
- Glencore International AG (Switzerland)
- TES-AMM Singapore Pte Ltd (Singapore)
- RSR Corporation (US)
- COM2 Recycling Solutions (US)
- East Penn Manufacturing Company, Inc. (US)
- The Doe Run Company (US)
- Raw Materials Company Inc. (RMC) (Canada)
- Neometals Ltd (Australia)
- Terrapure Environmental (Canada)
- Gopher Resource LLC (US)
Browse In-depth Market Research Report (111 pages) on Battery Recycling
The global battery recycling market has been segmented based on chemistry, application, and source. Based on chemistry, the global market is divided into lead-acid, nickel-based, lithium-based, and others. The lead-acid segment is expected to hold a larger share of the market and grow at the fastest rate during the forecast period. This is due to the recycling nature of lead-acid batteries and due to their wider applications compared to other types of battery chemistry. Based on application, the battery recycling market is segmented into transportation, consumer electronics, industrial, and others. The industrial segment holds the largest share due to various applications of batteries in a varied range of industries with applications in UPS systems, forklifts, emergency power backup, and heavy machinery, among others. Additionally, countries such as Japan, China, the US, and India are expanding their battery recycling plants. Based on source, the global battery recycling market has been divided into automotive batteries, industrial batteries, and consumer electronic appliance batteries. The automotive batteries 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, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the market during the forecast period. This is primarily because countries in the region are extensively focused on battery recycling to reduce soil contamination and water pollution. In Asia-Pacific, China held the largest market share in 2018 due to the growing demand for electric vehicles. While the battery recycling market is expected to grow at the fastest CAGR in India and China, during the forecast period due to initiatives for the policies and programs related to environmental regulation curbing health hazards. In North America, the US held the largest share in the market and is expected to grow at the fastest CAGR during the forecast period, due the R&D programs and initiatives to profitably capture 90% of all lithium-based batteries in the US to be collected and recycled. In Europe, Germany held the largest market share in 2018 and is expected to grow at the fastest rate during the forecast period. The countries in the region are supported by the European Union to achieve a high battery recycling rate to reduce water pollution. In the Middle East & Africa, the UAE is expected to be one of the leading markets for battery recycling.
Segmentation of Market covered in the research:
Information by Chemistry (Lead-Acid, Nickel-Based, Lithium-Based and others), Application (Transportation, Consumer Electronics, Industrial and Others), Source (Automotive Batteries, Industrial Batteries and Consumer & Electronics Appliance Batteries) and Region – Forecast till 2027
This battery recycling market analysis report provides an in-depth analysis of the battery recycling market forecast along with the current and future market trends. Some major factors that this report looks into at length are:
- The various developments undertaken by major market players, and their overall effect on the battery recycling market in the mid to long-term.
- A detailed analysis of the impact of changes in government policies on the battery recycling market globally.
- This report highlights the key drivers, opportunities, and restraints of the global battery recycling industry along with the impact analyses during the forecast period
- This report also provides a comprehensive battery recycling market analysis that covers major market dynamics and the impact of Covid-19 on the industry ecosystem.
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