Battery Recycling Market With Manufacturing Process and CAGR Forecast by 2031

Battery Recycling Market: Overview

The advent of the COVID-19 pandemic has created a global economic crisis owing to the restrictions and shutdowns which were imposed to avoid the spread of coronavirus. The government initiative to fund the BFSI sector and encourage businesses to bounce back is likely to create multiple growth opportunities for the battery recycling market during the forecast period of 2021-2031. The investments by well-entrenched players in battery recycling projects may also propel the growth of the battery recycling market. Concurrently, the expanding application of battery recycling in the consumer electronic industry and automotive segment may open new growth avenues for the battery recycling market.

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The battery recycling market can be segmented into lead ion, lithium-ion, nickel-cadmium, and others based on the battery chemistry. By battery source, the market can be classified into electronic appliances, automotive, and others. On the basis of end-use the battery recycling market can be divided into disposal, extraction of materials, repackaging, reuse, and second life.

The research report by TMR includes the important aspects that create an impact on the growth of the battery recycling market. The market survey conducted by the expert analysts includes the parameters such as competitive, scenario, revenue generation, emerging trends, opportunities, restraints, and regional dimensions. The projections made by the experts on the basis of this exhaustive research assist the CXOs and stakeholders to make proper decisions and plan strategies for market expansion.

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Battery Recycling Market: Trends and Opportunities

The entire world has become aware of the importance of maintaining the ecological balance by protecting the environment. The initiatives undertaken by government bodies of several nations have created awareness regarding the adverse effects of harmful emissions on the ecosystem. This has led to a consistent increase in recycling existing products and reusing them to avoid carbon footprints. This concept has encouraged the growth of the battery recycling market. Environmental concerns such as soil contamination due to battery dumping can be avoided by recycling the used and old batteries.
Rapid industrialization in developing countries has led to a rise in the disposable income of individuals. This has ultimately increased the spending on consumer electronics in which portable batteries are used. Subsequently, the huge amount of electronic waste may create the need for recycling and ultimately boost the growth of the battery recycling market.

Battery Recycling Market: Competitive Landscape

The leading players operating in the battery recycling market are making huge investments in battery recycling plants owing to the increase in the demand for battery recycling. The existing players are increasing their production capacities which are likely to augment the growth of the battery recycling market. The extensive research and development activities have contributed to generating novel revenue streams through technological advancements. The initiative to make sustainable products has gained traction and has eventually opened new growth avenues for the battery recycling market. The players are whetting their expertise in establishing their market dominance.

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The key players in the battery recycling market are Gravita India Ltd., Exide Technologies,
G&P Batteries, Umicore N.V., East Penn Manufacturing Company, Retriev Technologies Inc., LI-CYCLE CORP., EnerSys, Exide Technologies, and uRecycle.

Battery Recycling Market: Regional Dynamics

The battery recycling market can be segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa regions. Asia Pacific is expected to remain at the forefront due to the rise in demand and production of electric and battery-operated vehicles in this region. Consequently, the increasing demand for consumer electronics can also serve as a major growth contributor to the battery recycling market. Europe is also anticipated to show significant growth owing to the focus on the resolution of environmental concerns which has boosted the demand for battery recycling.

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