Battery Recycling Market is Projected To Grow At A CAGR of 12.05% By 2028 | TechSci Research

Lead-acid Batteries is Expected to Dominate the Global Battery Recycling Market. The industry is expected to grow rapidly during the forecast period owing to the increasing popularity of Electric Vehicles (EVs) and renewable energy storage systems leading to a higher demand for batteries, and, in turn, driving the need for recycling.

According to TechSci Research report, "Global Battery Recycling Market - By Country, Competition, Forecast & Opportunities, 2028". The Global Battery Recycling Market is anticipated to project robust growth in the forecast period with a CAGR of 12.05% through 2028. The demand for batteries is increasing due to the growing use of electronic devices, such as smartphones, laptops, and tablets. The demand for batteries is also increasing in the automotive and industrial sectors. There is a growing concern about the environmental impact of batteries. Batteries contain harmful chemicals, such as lead, mercury, and cadmium, which can pollute the environment if they are not recycled properly. Governments around the world are imposing regulations to promote battery recycling. These regulations are driving the demand for battery recycling services.

There are a number of new recycling technologies being developed to improve the efficiency and sustainability of battery recycling. These technologies are expected to drive the growth of the market in the coming years. Battery manufacturers are increasingly focusing on sustainable battery manufacturing. This includes using recycled materials and reducing the use of harmful chemicals. The demand for recycled batteries is increasing due to the increasing environmental concerns. Recycled batteries are a more sustainable option than virgin batteries.

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The cost of battery recycling is high compared to other recycling streams. This is due to the complex nature of batteries and the need for specialized equipment. The collection rates for batteries are low. This is due to the lack of awareness about battery recycling and the lack of collection infrastructure. The availability of recycled battery materials is limited. This is due to the low collection rates and the fact that batteries are not easily recyclable. Lockdowns imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries, which decreased demand for batteries from various automotive and non-automotive end users. This resulted in decline in the market growth in the second, third, and fourth quarters of 2020. However, the battery recycling market is expected to recover by the 2nd quarter of 2021 as COVID-19 vaccination has started in various economies across the globe, which is expected to improve the global economy.

Battery recycling is the process of recovering materials from used batteries. The recovered materials can be used to make new batteries or other products. The environmental concerns related to batteries include the pollution caused by the mining of raw materials, the production of batteries, and the disposal of used batteries. The government regulations related to battery recycling vary from country to country. However, most countries have regulations that require the collection and recycling of used batteries. Overall, the global battery recycling market is expected to grow in the coming years. The market is expected to be driven by the increasing demand for batteries, the growing environmental concerns, and the government regulations.

Based on application, the transportation segment garnered the highest battery recycling market share in 2020. This is attributed to the growing adoption of electric & hybrid vehicles and increasing efforts to promote electrification in the overall automotive industry. In addition, rapid growth of EV industry across the developing economies is anticipated to fuel the market growth in the coming years.

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Key market players in the Global Battery Recycling Market include:
• Umicore
• Retriev Technologies
• American Battery Technology Company (ABTC)
• Li-Cycle
• Aqua Metals
• Battery Solutions
• Recupyl
• Gopher Resource
• Glencore Recycling
• Retech Recycling Technology AB

"Factors such as government regulations, environmental safety, and awareness among people are expected to drive growth of the global battery recycling market. However, improper separation of harmful materials used in battery, improper dismantling, and improper shredding are expected to hamper the battery recycling market growth during the forecast period. Factors such as aesthetic design of battery, accessible installation of batteries, and provision of protective layers to mitigate risk of fire and short circuiting are anticipated to make way for different growth opportunities in the global market." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Battery Recycling Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Chemistry (Lithium-ion, Lead Acid, Nickel), By Application (Transportation, Consumer Electronics, Industrial, and Others), By Source (Industrial Batteries, Automotive Batteries, and Customer & Electronic Appliances Batteries), By Region, Competition 2018-2028 has evaluated the future growth potential of Portable Battery Recycling Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Portable Battery Recycling Market.

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Table of Contents:
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.3. Markets Covered
1.4. Years Considered for Study
1.5. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
4. Voice of Customers
5. Global Battery Recycling Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Chemistry (Lithium-ion, Lead Acid, Nickel), By Source (Transportation, Consumer Electronics, Industrial, and Others)
5.2.2. By Source (Industrial Batteries, Automotive Batteries, and Customer & Electronic Appliances Batteries)
5.2.3. By Region
5.3. By Company (2022)
5.4. Market Map >>>Conti>>

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