Battery Recycling Market by Chemistry (Lead–Acid Based Battery, Lithium Based Battery, Nickel Based Battery, and Other Battery Types), Source (Industrial Batteries, Automotive Batteries, and Customer & Electronic Appliances Batteries), Application (Transportation, Consumer Electronics, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global battery recycling market was valued at $11.1 billion in 2020, and is projected to reach $66.6 billion by 2030, growing at a CAGR of 19.5% from 2021 to 2030.
Batteries consist of a number of heavy metals such as copper, nickel, and lead, and toxic chemicals, such as toxic and flammable electrolytes containing LiClO4, LiBF4, and LiPF6. Disposing them by the same process as regular waste can harm the environment. Hence, battery recycling process is adopted to decrease amount of battery wastes being disposed as municipal solid wastes and to encourage efficient use of battery. Most type of batteries such as power tools, smartphone batteries, and automotive batteries can be recycled. Battery recycling prevents environment from hazardous effects such as soil contamination and water pollution. The method of recycling differs as per type of battery. Hence, it is necessary to separate batteries before recycling.
Environmental pollution through disposal of battery and rise in demand for electric vehicles/hybrid electric vehicle/plug-in hybrid electric vehicle are the key factors that drive growth of the battery recycling market during the forecast period. In addition, factors such as government regulations, environmental safety, awareness among people, and others are expected to drive the growth of the global battery recycling market. However, focus on lowering cost of batteries rather than its recyclability is anticipated to restrain growth of the battery recycling market during the forecast period. Conversely, higher energy efficiency requirements in technologically updated consumer gadgets and high adoption of electric vehicles are projected to create opportunities for key players to maintain pace in the market globally in the coming years.
The global battery recycling market is segmented into chemistry, source, application, and region. By chemistry, the market is divided into lead–acid battery, lithium-ion battery, nickel-based battery, and other battery types. Further segmentation can be done on the basis of source into industrial batteries, automotive batteries, and customer & electronic appliances batteries. By application, the market is categorized into transportation, consumer electronics, industrial, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2030.
A comprehensive analysis of the factors that drive and restrict the growth of the global battery recycling market is provided.
Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the battery recycling market players to adopt effective strategies.
Estimations and forecast are based on factors impacting the global battery recycling market growth in terms of value.
Key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current global battery recycling market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
KEY MARKET SEGMENTS
By Chemistry
Lead-Acid Based Battery
Lithium-Ion Based Battery
Nickel-Based Battery
Other Battery Types
By Source
Automotive Batteries
Industrial Batteries
Consumer & Electronic Appliance Batteries
By Application
Transportation
Consumer Electronics
Industrial
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
KEY MARKET PLAYERS
LI-CYCLE CORP.,
Accurec Recycling GmbH
Battery Solutions
Redwood Materials, Inc.
Glencore International
Retriev Technologies
Umicore
Enersys
AkkuSer Oy
Duesenfeld GmbH
Other players operating in the value chain of the global battery recycling market are Neometals Ltd., Primobius, Green Li-ion Pvt., Ltd., SungEel MCC Americas, Redux GmbH, and others.
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