The recycling transportation battery market is expanding as people across the globe are becoming more aware regarding electric vehicles. Using Electric Vehicle (EV) is more affordable than fuel-based vehicles, due to increasing fuel prices daily. The Government of India has also been taking various initiatives and developing several programs to promote EVs.
Fossil fuels are derived from nature and used to power vehicles. Its cost has gone up since there is a great demand for them and has a limited supply. Electric vehicles using batteries as power sources are a better alternative to fuel based vehicles. More consumers are preferring electric and hybrid vehicles over those that rely on fossil fuels as a result of the global increase in gasoline prices. Battery recycling providers may see an increase in demand as a result of this. For instance, the Indian Government has released draft recommendations on battery waste management to prevent incorrect handling and treatment of Lithium-Ion Batteries (LIBs). In accordance with these recommendations, manufacturers would be mandated to collect, store, transport, recycle, and dispose used batteries. This is known as Extended Producer Responsibility (EPR). Additionally, the Government of India offers financial incentives to promote LIB recycling investments.
Poor lithium separation, flawed disassembly, and ineffective shredding are predicted to hamper revenue growth of the battery recycling market during the projection period. Prevalent growth of second-life battery recycling could be hampered by high battery refurbishing expenses (including transaction and collection charges) as well as questions over the quality, safety, and remaining lifetime of batteries sent for refurbishment.
The lithium-based battery is currently the best alternative out of all the battery technologies now in use. These batteries have an eight to ten-year shelf life, but once their ability to generate energy drops below 80%, they are no longer appropriate for use in EVs. On the other hand, these batteries can still be used in stationary applications such as for storing renewable energy.
Several sectors across the globe were impacted due to the COVID-19 pandemic. Additionally, stay-at-home orders and closure of manufacturing and recycling facilities has affected the battery recycling sector. The recycling of batteries is a capital-intensive sector that requires a lot of finance, labor, and investment. However, the pandemic's impact on the economy has led to higher unemployment and decreased consumer spending. Governments of various countries such as India, U.S., and others shifted their funding to healthcare functions. Which had an effect on all the industries including the battery recycling industry. Additionally, there were delays in the battery recycling supply chain as a result of the travel and import-export restrictions, which significantly hampered viability of non-renewable and environmentally hazardous materials such as lead, cobalt, and lithium. During the pandemic, these variables had a major impact on the battery recycling market revenue growth.
The key players profiled in this report include Call2Recycle, Inc., Battery Solutions, LLC, Exide Technologies, Umicore, Contemporary Amperex Technology Co., Limited, ENERSYS, GEM Co., Ltd., Johnson Controls, Fortum, and Aqua Metals, Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the transportation battery recycling market analysis from 2021 to 2030 to identify the prevailing transportation battery recycling market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the transportation battery recycling market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global transportation battery recycling market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Chemistry
- Lead-Acid Battery
- Lithium-Based Battery
- Nickel-Based Battery
- Others
By Source
- Automotive Batteries
- Industrial Batteries
- Consumer and Electronic Appliance Batteries
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Call2Recycle, Inc.
- battery solutions, llc
- ECOBAT Logistics
- Gopher Resource
- Contemporary Amperex Technology Co., Limited
- EnerSys
- GEM Co., Ltd.
- Fortum
- Aqua Metals, Inc.
- umicore
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Table of Contents
Executive Summary
According to the report, titled, “Transportation Battery Recycling Market," the transportation battery recycling market size was valued at $4.75 billion in 2021, and is estimated to reach $9.95 billion by 2030, growing at a CAGR of 8.2% from 2022 to 2030.Over the past ten years, the market for Electric Vehicles (EVs) increased dramatically, partly due to aggressive sales’ goals set globally. Lithium-ion batteries must be carefully discarded at end-of-life to maximize reuse and recycling, which necessitates an effective and secure system for its collection and transportation.
However, some of the disadvantages of these batteries are they contain heavy metals such as mercury and lead which are among the dangerous substances. These batteries retain some of their charge, which raises possibility of an accidental discharge that might endanger or harm persons as well as nearby property. Large lithium-based batteries, like those used in automotive applications, may be mislabeled as lead-acid batteries by regional battery manufacturers. Due to these problems, state or federal governments restrict transportation and storage of used batteries.
Developments such as manufacturing on a large scale, lower component prices, and adoption of technologies to boost battery capacity are factors leading to a decline in prices of lithium-ion batteries. For instance, in the U.S., Battery Resources is planning to open a 154,000-square-foot recycling facility in August 2022, which is expected to be among the largest in North America region. Moreover, it will have capacity to recycle 30,000 metric tons of lithium-ion batteries per year. These factors are anticipated improve the transportation battery recycling market share over the coming years.
The global transportation battery recycling market is segmented based on type, sources, and region. By type, it is classified into lithium-based battery, lead-acid battery, nickel-based battery, and others. By sources, it is classified into industrial batteries, automotive batteries, electronic appliances batteries, and others. By region, the transportation battery recycling market analysis is done across Europe, North America, Asia-Pacific, and LAMEA.
The key players profiled in this report include Call2Recycle, Inc., Battery Solutions, LLC, Exide Technologies, Umicore, Contemporary Amperex Technology Co., Limited, ENERSYS, GEM Co., Ltd., Johnson Controls, Fortum, and Aqua Metals, Inc.
The report offers a comprehensive study of the global transportation battery recycling market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Transportation Battery Recycling Industry
- The COVID-19 pandemic has had a severe effect on a number of businesses, including the automotive industry. The pandemic has caused a sharp decrease in automotive sales. The need for recycling transportation batteries decreased significantly due to widespread usage of automotive batteries in the automotive industry.
- Due to quick spread of COVID-19, the establishment of new transportation battery recycling projects was hampered due to the global economic recession
- According to, National Center for Biotechnology Information (NCBI) it is a part of the U.S. National Library and is supported by the U.S. Government, French automakers will receive around $9 billion in recovery money, primarily to encourage adoption of electric vehicles. The EV manufacturing sector will receive around $5.6 billion from Germany's stimulus package.
Key Findings of the Study
- Based on type, the lithium-based battery sub-segment emerged as the global dominating leader in 2021 and the lead-acid battery sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
- Based on sources, the industrial batteries sub-segment emerged as the global dominating leader in 2021 and the automotive batteries sub-segment is predicted to show the fastest growth in the upcoming years, which in turn is projected to propell the transportation battery recycling market growth
- Based on region, the Europe market registered the highest market share in 2021 and is projected to maintain its dominant position during the forecast period. The Asia-Pacific region is anticipated to be the fastest growing market during the forecast period.
- The study also provides the in-depth analysis of the transportation battery recycling market forecast trends.
Companies Mentioned
- Call2Recycle, Inc.
- Battery Solutions, LLC
- Ecobat Logistics
- Gopher Resource
- Contemporary Amperex Technology Co. Limited
- Enersys
- Gem Co. Ltd.
- Fortum
- Aqua Metals, Inc.
- Umicore
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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