Industry Overview:
According to the latest report by IMARC Group, titled “Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global battery recycling market size reached US$ 14.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028.
Battery recycling helps lower the number of batteries disposed of as municipal solid waste. Batteries consist of various heavy metals and harmful chemicals, and disposing of them by the same method as household waste has increased concerns over soil contamination and water pollution. Due to this, batteries require recycling to comply with environmental and health benefits. Most batteries can be recycled. However, some can be recycled more readily than others, such as button cells and lead-acid automotive batteries. Battery recycling helps in reducing energy consumption and manufacturing costs worldwide. The demand for battery recycling is gaining traction across various industries, which involves extraction of material, repackaging, reuse, and second life of disposal activities.
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Global Battery Recycling Market Growth:
The global market is majorly driven by increasing environmental concerns due to the improper scrapping of used batteries. In line with this, the rising demand for portable electronic devices is significantly contributing to the market growth. Furthermore, the stringent government policies to reduce carbon emissions are positively influencing the need for battery recycling across the globe.
Apart from this, the growing demand for consumer electronics such as smartphones, tablets, and laptops is offering numerous opportunities for the market players operating in the battery recycling market. Moreover, several non-profit organizations are collaborating with automotive companies, service providers, and battery manufacturers for EV battery recycling and alkaline battery disposal, which, in turn, is expected to propel the market growth. Besides, the extensive usage of battery recycling for materials extraction is favoring the market. Additionally, the growing demand for electric vehicles and favorable subsidies to promote battery recycling is providing a boost to the market expansion.
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
Key Market Segmentation:
Our report has categorized the market based on type, source, end-use and material.
Type:
- Lead-acid Batteries
- Nickel-based Batteries
- Lithium-based Batteries
- Others
The report has provided a detailed breakup and analysis of the battery recycling market based on the type. This includes lead-acid batteries, nickel-based batteries, lithium-based batteries and others. According to the report, lead-acid batteries represented the largest segment.
Source:
- Industrial
- Automotive
- Consumer Products
- Electronic Appliances
- Others
A detailed breakup and analysis of the battery recycling market based on the source has also been provided in the report. This includes industrial, automotive, consumer products, electronic appliances and others. According to the report, industrial source accounted for the largest market share.
End-Use:
- Reuse
- Repackaging
- Extraction
- Others
The report has provided a detailed breakup and analysis of the battery recycling market based on the end-use. This includes reuse, repackaging, extraction and others.
Material:
- Manganese
- Iron
- Lithium
- Nickel
- Cobalt
- Lead
- Aluminum
- Others
A detailed breakup and analysis of the battery recycling market based on the material has also been provided in the report. This includes manganese, iron, lithium, nickel, cobalt, lead, aluminium and others.
Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa.
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
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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