Global battery recycling market is expected to foresee significant growth. Increasing investment in recycling is likely to drive the market!
- Vikas Kumar
- October 6, 2021
- Battery recycling market Growth, Battery recycling market Share, Battery recycling market Size, Battery recycling market Trend, Industrial hemp market
- 0 Comments
The global battery recycling market was stood around US$17 billion in 2020 and is expected to showcase the growth rate of more than 6% during the forecast period (2021-2027). Increasing stringent regulations related to battery recycling, large base of battery end users and limited life, increasing demand of batteries, growing concern among OEMs regarding circular economy, and limited availability and difficult extraction and processing of metals.
Globally, batteries are witnessing growing demand from across the sectors. Shifting trend towards e-mobility, increasing demand of consumer electronics products in developing economies owing to improving people lifestyle, and growing concern in industries to reduce the carbon emission are some of the key attributable factors for the growth of the battery manufacturing industry. Owing to which, demand of raw materials like nickel, zinc, and lithium is increasing. For instance, global production of lithium from mine was 28.2 thousand ton which has increased to 90.2 thousand ton in 2019 and 86.3 thousand ton in 2020. These materials are all non-renewables, can be recycled an indefinite number of times, and have a commercial value. Therefore, opening a large commercial market for battery recycling.
For a detailed analysis of the Global Battery Recycling Market browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=9822
Since, recycling of batteries requires a fully efficient supply chain which had been broken down in the light of COVID-19, thus affecting the market performance. Further, to curtail the spread of disease, government across the globe, had taken several stringent measures like lockdown which has resulted in the factory shutdown or operating with reduced number of manpower thus resulted in the low recycling rates.
- Based on chemistry the global battery recycling market is segmented into lead-acid, lithium-based, nickel-based, and others. Currently, lead-acid battery dominates in the battery recycling market owing to its cost effectiveness and large application areas.
- Based on source, the market is divided into automotive, industrial, consumer & electronics, and others. Currently, automotive sector dominates the battery recycling market.
Request for Sample of the report browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=9822
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia-Pacific is likely showcase significant growth during the forecast period owing to increasing sales of consumer electronics, growing automotive sector, rising investment in the recycling activities, and growing adoption of e-mobility. Some of the major companies profiled in the report includes Call2Recycle Inc., Battery Solutions LLC, Exide Technologies, Umicore N.V., Exide Industries Ltd., Contemporary Amperex Technology Co. Ltd., Gem Co. Ltd., Enersys, Johnson Controls International plc, and Aqua Metals Inc.
Global Battery Recycling Market Segmentation
Market Insight, by Chemistry
Market Insight, by Source
- Consumer & Electronics
Market Insight, by Region
- North America Battery Recycling Market
- United States
- Rest of North America
- Europe Battery Recycling Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Battery Recycling Market
- Rest of Asia-Pacific
- Rest of World Battery Recycling Market
Top Company Profiles