02-Aug-2019 | Zion Market Research
Zion Market Research has published a new report titled “Battery Recycling Market by Chemistry (Lead Acid Battery, Lithium-Based Battery, and Nickel-Based Battery), By Source (Automotive Batteries, Consumer & Electronic Appliance Batteries, and Industrial Batteries), By End-Use (Disposal, Reuse, Repackaging & Second Life, and Extraction of Material), and by Material (Manganese, Iron, Lithium, Nickel, Cobalt, Lead, Plastic, and Aluminum): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global battery recycling market was at USD 10,000 million in 2018 and is expected to reach around USD 21,060 million by 2025, at a CAGR of 10.4% between 2019 and 2025.
The battery recycling market is one of the flourishing markets globally, owing to both environmental and economic advantages of battery recycling. The process of battery recycling extracts reusable hazardous components out of batteries through advanced and extremely careful mechanical and chemical methods and provides those components to battery manufacturers at a reasonable price.
Browse the full “Battery Recycling Market by Chemistry (Lead Acid Battery, Lithium-Based Battery, and Nickel-Based Battery), By Source (Automotive Batteries, Consumer & Electronic Appliance Batteries, and Industrial Batteries), By End-Use (Disposal, Reuse, Repackaging & Second Life, and Extraction of Material), and by Material (Manganese, Iron, Lithium, Nickel, Cobalt, Lead, Plastic, and Aluminum): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/battery-recycling-market
The growing use of electronic gadgets, rising potential market of E-vehicles, and strict governmental laws to preserve environmental health are the primary growth factors for the global battery recycling market. The global demand for electronic devices, such as laptops, smartphones, tablets, and digital cameras, is on a consistent rise, which can be attributed to the increasing purchasing power of the people in the developing countries. The electric vehicles market is completely untapped for batteries, which is a new growth avenue for the battery recycling market. The most populous country in the world—China is the biggest market for EVs, with around 4% market penetration. The demand for electric vehicles in China is consistently rising by registering a 62% rise in 2017. The number of new energy vehicles sold in China during 2018 was 1.3 million. On a global landscape, the EV market has grown six-fold since 2013. However, low awareness of battery recycling at the individual level and the potential threat of severe damage due to unsafe handling and storage of used batteries may hamper this market.
The global battery recycling market is fragmented on the basis of chemistry, source, end-use, and material. By chemistry, the market includes a nickel-based battery, lead acid battery, and lithium-based battery. Lead acid batteries are projected to hold the largest share in the future. Additionally, lithium-based batteries are expected to grow significantly in the years ahead.
On the basis of source, the market includes consumer and electronic appliance batteries, industrial batteries, and automotive batteries. The automobile batteries segment holds around 40% market share globally and is expected to dominate in the future as well. This can be attributed to the flourishing E-vehicles market potential.
By end-use, the global battery recycling market is divided into the extraction of material, reuse, repackaging and second life, and disposal. The material segment comprises iron, manganese, lithium, cobalt, nickel, lead, aluminum, and plastic.
Europe was the largest region and accounted for around 40% of the global battery recycling market in 2018. The Asia Pacific battery recycling market is projected to register the highest CAGR over the forecast time period, owing to the increasing demand for batteries and the growing concerns over environmental protection. North America is projected to be the second fastest-growing market in the years ahead.
Some key players operating in the global battery recycling market are Call2Recycle, G&P Batteries, Johnson Controls, Eco-Bat Technologies, Battery Solutions, Vinton Batteries, Umicore, AquaMetals, Exide Technologies, and Accurec Recycling.
This report segments the global battery recycling market into:
Global Battery Recycling Market: Chemistry Analysis
Global Battery Recycling Market: Source Analysis
Global Battery Recycling Market: End-Use Analysis
Global Battery Recycling Market: Material Analysis
Global Battery Recycling Market: Regional Analysis
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