Global Battery Recycling Growth Major Competitors, Regional Segments, Strategies and Forecast 2030

According to a new market research report published by Inkwood Research, the Global Battery Recycling Market is predicted to project a CAGR of 8.52% in terms of revenue, during the forecasting years of 2020-2028.
''Browse 31 Market Data Tables and 39 Figures spread over 135 Pages, along with an in-depth TOC on the Global Battery Recycling Market Forecast 2020-2028.''

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Almost everything, from electronic devices to power tools, power vehicles, energy storage systems, etc. have batteries in them. The increasing number of applications leads to a huge number of batteries reaching their end-of-life. Thus, the challenges involved in the re-use and recycling of batteries are estimated to be of primary focus in the coming years. Battery recycling, as a process, minimizes the number of batteries disposed of as solid waste. Batteries contain toxic chemicals, and when untreated and disposed of directly, results in soil contamination and water pollution. In order to negate the harmful effects of battery disposal, governments across the world have made battery recycling obligatory.

Strict Government Policies Fuels Market Growth
The rapidly growing portable consumer electronics like laptops, phones, cameras, etc. result in increased demands for batteries across the globe. Billions of batteries containing corrosive or toxic materials are disposed of every year. It results in the creation of hazardous waste and is a threat to environmental health. The organizations and environmentalists across the world have been concerned over the proper management of the battery wastes. North American and European countries are at the forefront of such initiatives, since they are among the early adopters of the large-scale-battery-based Energy Storage Systems (ESS). The Batteries Directive is a part of the EU legislation that is entirely dedicated to batteries, which also embodies legislation on waste batteries. The directive entails the prohibition of batteries that contain hazardous substances, and puts forth measures for establishing schemes that aim at a high level of collection and recycling, along with fixing targets for recycling and collection activities.
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Lithium-Ion Record the Fastest-Growth
Lithium-ion is available in different sizes for various applications, and this is set to boost the demand for recycled lithium-ion battery. It is primarily used in electric vehicles, and the increasing demand for electric vehicles is further set to fuel demands for lithium-ion batteries. The thriving electric vehicle market is anticipated to result in a huge number of electric vehicle batteries reaching the end of life. Therefore, it becomes essential to implement the recycling process that can retain and regain 90% of used lithium. The flourishing transportation industry and the rising use of lithium-ion batteries in the industry, are projected to enhance the recycled batteries consumption in the coming years.

Asia Pacific Projected to Record the Highest CAGR
The Asia Pacific region is estimated to record the highest growth during the forecast period. The strong manufacturing and recycling base of lead acid battery in countries like India, Japan, and China, and the increasing demands in the automotive industry of countries like Sri Lanka, Vietnam, Indonesia, and India, is one of the major drivers of market growth. The automotive market of Japan is thriving at a rapid pace and is heading towards electric vehicles, which is expected to increase the demand for recycled batteries.
The leading companies of the market include, Recyclex SA, GS Yuasa Corporation, Call2Recycle Inc, Aqua metals Inc, Accurec Recycling GmbH, Exide Technologies, etc. With the majority of the players having a limited geographical presence, the intensity of the competitive rivalry is estimated to be moderate.

Related Report:
GLOBAL ELECTRIC VEHICLE BATTERY MARKET
GLOBAL BATTERY MARKET
GLOBAL LEAD-ACID BATTERY MARKET

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