This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
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Battery recycling refers to the process of minimizing the number of batteries that are disposed of as solid wastes. In the battery recycling process, the reusable hazardous components are extracted from the batteries employing careful and advanced chemical and mechanical methods. The extracted components can be offered to the battery manufacturers at reasonable rates for reuse.
The batteries contain toxic chemicals and heavy metals that contaminate the water as well as soil when disposed of as trash. The growing concern for the water and soil pollution drives the demand for the global battery recycling market. The battery recycling market is estimated to grow within the forecast period.
Market Drivers and Restraints
The increase in the use of electronic gadgets is a major driver of the global battery recycling market. The rise in the concerns about the environment is another important factor that drives the growth of the global market. The strict government laws for the preservation of environmental health and the rise in the market of E-vehicles are some other factors that fuel the market growth.
The low awareness level about battery recycling is a major restraining factor that hampers the market growth worldwide.
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Key Market Segmentation
The global battery recycling market is segmented based on type, material, source, application, end-use, and region.
Based on the type, the battery recycling market is subdivided into the nickel-based battery, lithium-based battery, and lead-acid battery. The lead-acid battery is the leading segment across the globe owing to its wide application, reliability, and cost-efficiency. The lithium-based battery is anticipated to witness growth in the coming years.
Depending on the material, the global market is divided into manganese, cobalt, lithium, iron, aluminum, lead, and plastic.
Based on the source, the battery recycling market includes industrial batteries, consumer and electronic appliance batteries, and automotive batteries. The segment of automotive batteries accounts for the largest share in the global market.
Depending on the application, the global market is classified into automotive, marine, utilities, UPS, telecom, construction, and others. The automotive segment holds the highest share in the market owing to the rise in demand for electric vehicles.
Based on the end-use, the global battery recycling market is subdivided into repackaging and second life, reuse, extraction of material, and disposal.
Based on the region, the global market includes Europe, Southeast Asia, the USA, China, India, South America, Japan, North America, South Africa, and Others. Europe is the leading region of battery recycling owing to its stringent government regulations and the availability of advanced technologies. The North America region is expected to grow at the fastest rate. The Asia Pacific market is anticipated to witness growth during the forecast period due to the growing environmental concerns and an increase in demand for batteries.
Key Players
The report has included a profiling of various prominent players in the market and different trends in the manufacturing landscape. It also identifies some of the new market entrants that are shaping the battery recycling market landscape.
Battery Solutions
Call2Recyle
Exide Technologies
Gravita Group
Johnson Controls
EnerSys
Aqua Metals
ECOBAT Technologies
Umicore
SUNLIGHT Recycling
HydroMet
Retriev Technologies
Campine
Gopher Resource
G&P Batteries
Terrapure Environmental
East Penn Manufacturing
Industry News
In September 2019, Tata Chemicals started the recycling operation of Li-ion Battery in Mumbai, India. The operation aims at reducing environmental pollution, preserving natural resources, and saving energy.
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Release ID: 88920760
