Global Battery Recycling Market Overview:
According to the latest report by IMARC Group, titled “Battery Recycling Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global battery recycling market reached a value of US$ 13.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.7 Billion by 2027, exhibiting a CAGR of 8.56% during 2022-2027.
Battery recycling is the process of reusing and reprocessing batteries to minimize the disposal of batteries as municipal solid waste. These batteries comprise toxic chemicals and heavy materials that contribute to soil contamination and water pollution. Battery recycling is widely adopted by various end users as the process recovers harmful metals, such as mercury, lead, cadmium, and nickel, that usually end up in landfills and makes new products out of the generated waste. This has also minimized the need to mine for rare metals, including cobalt and nickel. Almost all the batteries available in the market, including lead-acid, lithium-ion (Li-ion), nickel-cadmium (Ni-Cd), nickel-metal hydride (Ni-MH) and nickel-zinc (Ni-Zn), are recyclable in nature but certain variants, such as lead batteries, can be recycled entirely.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Battery Recycling Market Trends:
The global market is primarily driven by the burgeoning sales of hybrid and electric vehicles (EVs) across the globe. In line with this, governments of various countries are significantly investing in the manufacturing of EVs and undertaking several initiatives such as offering incentives to facilitate their adoption.
Furthermore, stringent government regulations for battery disposal, in confluence with the rising concerns over battery waste disposal and enhanced focus toward sustainable development, are providing a thrust to the market growth. In addition to this, there is a growing utilization of recycled batteries in the consumer electronics sector. These batteries form a crucial component in the manufacturing of smartphones, power tools, laptops, gaming consoles and remote-control units. The employment of robotics technology to improve the recovery rates of metals is acting as another major growth-inducing factor.
Moreover, the limited availability of the raw materials for the production of lithium-ion batteries is further facilitating the recycling of discarded batteries. Some of the other factors influencing the market growth include rapid industrialization, technological advancements in the EV battery recycling, launch of aesthetically appealing battery designs, and extensive research and development (R&D) undertaken by industry players to encourage innovation in battery recycling.
Global Battery Recycling Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Accurec GmbH
- Aqua Metals, Inc.
- Battery Solutions LLC
- Call2recycle Inc.
- ECOBAT Technologies Ltd.
- Enersys
- Exide Technologies
- Eco-Bat Technologies Limited
- Gravita India Limited
- Johnson Controls, Inc.
- Retriev Technologies
- Umicore
Breakup by Type:
- Lead-acid Batteries
- Nickel-based Batteries
- Lithium-based Batteries
- Others
Breakup by Source:
- Industrial
- Automotive
- Consumer Products
- Electronic Appliances
- Others
Breakup by End-Use:
- Reuse
- Repackaging
- Extraction
- Others
Breakup by Material:
- Manganese
- Iron
- Lithium
- Nickel
- Cobalt
- Lead
- Aluminum
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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