Global Battery Recycling Market Set to Rise at 8.9% CAGR, from 2019 to 2026

Battery Recycling Market Overview 2024:
The Battery Recycling Market is valued at approximately $ 1222.36 between 2018 and 2026 and is anticipated to register a CAGR close to 8.9% between 2016 and 2024. The process of recycling and reusing of batteries is termed as battery recycling. The used batteries are often disposed off to municipal garbage solid waste centres. This waste can contaminate both water and soil, which can harmfully affect the level of ground water.

Europe is anticipated to account for a major market share for battery recycling industry owing to the implementation of several measures to protect the environment by the governing bodies in countries including United Kingdom, Italy, France, Germany and Russia to prevent water and soil contamination due to the inflow of chemical and toxic waste dumped by the batteries. Furthermore, the Asia Pacific region is projected to experience a modest growth during the forecast period with the growing competition and measures initiated by the regulatory bodies for subsidies. Rise in the manufacturing of hybrid vehicles in India and China is anticipated to drive the growth of industry. However, the fact that used battery can easily cause fire resulting from the friction by the aged metals can impact the growth of the Battery Recycling Market.

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The various type of batteries that can be reused include button cells, Lead-acid battery, nickel-zinc (Ni-Zn), lead-acid automotive batteries, lithium-ion (Li-ion), Rechargeable nickel-cadmium (Ni-Cd) and nickel metal hydride (Ni-MH). These batteries are used in toys, medical equipment commercial batteries, watches, cart batteries, motorcycle batteries, USP batteries as well as industrial fork-lift batteries. The end-use of the primary resources including lithium and lead is projected to rise in the next few years owing to the rapid growth in the human population. The constant push for reusing utilized materials in order to protect the environment by reducing the carbon footprints and preserving natural resource will keep the prospect of the Battery Recycling Market high. The lead acid batteries are the most recycled product and contribute for approximately 78.0% of the lead end-use in the world with a high recycling rate across different countries. Using recycling techniques to produce lead as well as other raw materials consumes less energy as compared to production of lead via mining process. Such energy efficient process also results in less carbon emission. These driving factors in turn are anticipated to fuel the reuse of lead acid battery over the projected period.

The major players in the value of the Battery Recycling Market are Enersys, Aqua Metals, Umicore, Exide Technologies, Battery Solutions LLC, Retriev Technologies, Inc. and others.

The Key Takeaways of The Battery Recycling Market:
o The Battery Recycling Market forecast is studied from 2016 to 2026
o The study provide an extensive analysis of the forecast including the present and future industry trends
o The research outlines the major driving forces, opportunities and restraining factors of the industry and examines the their impact during the forecast period
o Porter's five forces assesses the potential of the consumers and suppliers and the competitive landscape worldwide for strategy building
o The data derived through qualitative research aims at proving information on market developments, dynamics and trends
An extensive analysis of the key drivers and restrains across different regions is provided in this report
o The Battery Recycling Market size and share in terms of value, volume and revenue is covered in this report
o The profiles of prominent market players along with their successful strategic developments are included in the report

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The Battery Recycling Market Segmentation:
By Type
o Lead-Acid Battery
o Lithium-based Battery
o Nickel-based Battery

By End User
o Reuse, Repackaging & Second Life
o Disposal
o Extraction Of Material

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This release was published on openPR.