Press release
Global Battery Recycling Market Expected to Worth USD 17 bn at a CAGR of 24% During 2018-2027 | Industry Leading Players - Solutions LLC, Call2Recycle, Inc., Exide Technologies, Retriev Technologies, Inc.
Research Nester
Recycling and reusing of batteries is called battery recycling. Disposing of used batteries to municipal garbage solid waste house can led to soil and water contamination, which can adversely affect the ground water level.
Types of batteries that can be recycled are lead–acid automotive batteries, button cells, Rechargeable nickel–cadmium (Ni-Cd), nickel metal hydride (Ni-MH), lithium-ion (Li-ion) and nickel–zinc (Ni-Zn).
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Rechargeable batteries can be used in cars, toy, watches, medical devices, golf cart batteries, UPS batteries, industrial fork-lift batteries, motorcycle batteries, and commercial batteries.
Market Forecast and trends
Global battery recycling market is expected to account for a market value of around USD 17 billion at a CAGR of 24% till forecast period 2018-2027. Rise in demand for batteries on the back of increasing hybrid electric vehicles is expected to fuel the global battery recycling in value terms.
Europe is slated to account for largest market share for battery recycling market on the account of application of stringent initiatives for environmental protection and safety purpose by the governments in several countries such as Germany, the United Kingdom, France, Russia, and Italy to avoid soil and water contamination raised from toxic and chemicals of trashed batteries.
Additionally, Asia pacific is expected to showcase modest growth for battery recycling market in forecast period with rising competition and government initiatives for subsidies. Additionally, increased production of hybrid vehicles in countries such as China and India is expected to support the growth of market.
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Growth Drivers
Directive initiatives by government of Europe region strictly drive the growth of battery recycling market. Additionally, safety of soil and water contamination to avoid disposing of trashed batteries in municipal garbage solid waste house is positively supporting the growth of market.
Moreover, increasing sales of hybrid vehicles directly impacts the demand for battery system, thereby driving the growth of battery recycling market during the forecast period.
Challenges
One of the challenging factors that hamper the growth of market is installing and processing of used battery, which can cause fire due to friction produced by old metals.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the gl0bal battery recycling market which includes company profiling of Battery Solutions LLC, Call2Recycle, Inc., Exide Technologies, Retriev Technologies, Inc., East Penn Manufacturing Company, EnerSys, G & P Batteries, Gravita India Ltd., Johnson Controls, Inc. and Umicore N.V. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global battery recycling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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