Battery recycling Market to Observe Strong Development by 2032 - Li-Cycle, Umicore, HUSKY BATTERY SOLUTIONS, etc.
Battery recycling, often referred to as "battery recycling recycling" or "used battery recycling," specifically refers to discarded or used batteries that are no longer functional and are collected for recycling purposes. Battery recycling helps conserve natural resources, reduces the environmental impact of hazardous materials, and minimizes the need for new mining or extraction. It is important to dispose of batteries properly by recycling them at designated collection points or facilities, as improper disposal can lead to pollution and harm the environment. The battery recycling market was valued at $35.2 billion in 2022 and is estimated to reach $83.7 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐: https://www.alliedmarketresearch.com/request-sample/14187
The global shift toward cleaner and more sustainable energy sources, including electrification and renewable energy, drives the demand for batteries and, consequently, the recycling of used batteries. However, challenges such as handling hazardous materials and recycling costs act as major restraints for the battery recycling market growth. Moreover, the rise in demand for electric vehicles (EVs) and energy storage is anticipated to offer battery recycling market opportunities for development in the coming years.
The battery recycling market scope is segmented based on product type, source, end-use, and region. By product type, the market is categorized into lead-acid, lithium-ion, and others. By source, the battery recycling market analysis is classified into electric vehicles, consumer electronics, power tools, and others. By end use, the market is categorized into material extraction, reuse, disposal, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on product type, the lithium-ion segment held the highest market share in 2022, accounting for nearly half of the global battery recycling market share in terms of revenue, and is estimated to maintain its leadership status throughout the forecast period. Lithium-ion batteries are widely used in various applications, including consumer electronics, electric vehicles (EVs), renewable energy storage systems, and portable devices due to their high energy density and rechargeable nature.
๐๐๐ญ ๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/request-for-customization/14187
Based on the source, the electric vehicle segment held the highest market share in 2022, accounting for nearly three-fifths of the global battery recycling market size in terms of revenue, and is estimated to maintain its leadership status throughout the forecast period. Electric vehicles (EVs) contribute to the battery recycling market primarily through the replacement of their lithium-ion batteries. Recycling and repurposing these used EV batteries play a crucial role in resource conservation, environmental sustainability, and responsible growth of the electric vehicle sector in the battery recycling industry.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Battery recycling industry's key market players adopt various strategies such as product launches, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐๐ญ๐ญ๐๐ซ๐ฒ recycling ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
Husky Battery Solutions Ltd.
EXIDE INDUSTRIES LTD.
ENGITEC TECHNOLOGIES SPA
Aqua Metals, Inc.
Li-Cycle, Gravita India Ltd.
Ecobat, Sunlight Group
Guangdong Brunp Recycling Technology Co., Ltd.
Umicore
Based on the end-use, material extraction held the highest market share in 2022, accounting for nearly two-fifths of the global battery recycling market revenue, and is estimated to maintain its leadership status throughout the forecast period. Battery recycling can have several potential uses in the field of material extraction, primarily in recycling and repurposing batteries and their components. Battery cells from recycling can be repurposed for energy storage applications. While they do not meet the high-performance demands of their original application, they can still store and release energy effectively, supporting backup power systems and off-grid solutions.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global battery recycling market revenue, and is likely to dominate the market during the forecast period. Furthermore, the Asia-Pacific region is expected to witness the fastest growth from 2023 to 2032. The Asia-Pacific region has been at the forefront of electric vehicle adoption, with China being the largest EV market globally.
Thus, there has been a growing focus on the recycling of EV batteries to recover valuable materials such as lithium, cobalt, and nickel. Also, Asia-Pacific countries are major producers and consumers of consumer electronics. Recycling used batteries from smartphones, laptops, tablets, and other devices has become important due to environmental regulations and sustainability concerns.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/14187
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
- Based on product type, the lithium-ion segment accounts for nearly half of the market share, in terms of revenue, in 2022.
- Based on source, the electric vehicle segments account for nearly three-fifths of the market size, in terms of revenue, in 2022.
- Based on end-use, the material extraction segment accounts for nearly two-fifths of the market share, in terms of revenue, in 2022.
- Region-wise, Asia-Pacific accounts for nearly half of the market share, in terms of revenue, in 2022.
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
๐. ๐๐ซ๐๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐๐ญ๐ข๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2022/08/11/2497247/0/en/Transportation-Battery-Recycling-Market-to-Generate-9-95-Billion-by-2030-Allied-Market-Research.html
๐. ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2022/03/22/2407493/0/en/Battery-Recycling-Market-to-Generate-66-6-Billion-by-2030-Allied-Market-Research.html
๐. ๐๐จ๐ฅ๐๐ซ ๐๐๐ง๐๐ฅ ๐๐๐๐ฒ๐๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ - https://www.prnewswire.com/news-releases/solar-panel-recycling-market-is-expected-to-reach-478-6-million-globally-by-2030-at-13-1-cagr-allied-market-research-301423892.html
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๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/battery-scarp-market-A13818
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