According to the report the global battery recycling market reached a value of USD 11.34 billion in 2022. Aided by the mounting concern for environmental sustainability and the surging demand for batteries in various applications, the market is projected to further grow at a CAGR of 7.80% between 2023 and 2028 to reach a value of USD 17.8 billion by 2028.
Battery recycling encompasses the process of reclaiming and reusing materials from spent batteries, reducing the need for raw materials and minimising environmental hazards. From lead-acid batteries used in vehicles to lithium-ion batteries prevalent in consumer electronics and electric vehicles, the importance of recycling these energy storage units has become paramount.
A key driver of the global battery recycling market growth is the escalating concern regarding environmental pollution. Spent batteries, when discarded irresponsibly, pose severe ecological risks due to the hazardous chemicals and heavy metals they contain. This environmental aspect, coupled with the ever-growing demand for batteries, particularly in the automotive and electronics sectors, underscores the necessity of robust recycling mechanisms.
Furthermore, technological advancements and the digitisation wave have boosted the proliferation of electronic devices, subsequently leading to a heightened demand for batteries. As these batteries reach their end of life, efficient recycling processes are essential to ensure that the precious metals and chemicals they contain are effectively reclaimed and repurposed, reducing waste and alleviating the strain on natural resources.
Adding to the battery recycling market demand is the automotive sector's paradigm shift towards electric vehicles (EVs). As EV adoption rates soar globally, spurred by governmental policies and a collective push towards a greener future, the number of spent batteries will inevitably rise. This surge offers immense potential for the market growth, given that these batteries are larger and comprise more recyclable material than their smaller counterparts in electronic devices.
As per the battery recycling market analysis, the vast applications and implications of battery usage extend to sectors like renewable energy, where energy storage plays a pivotal role. Wind and solar energy installations often rely on large battery banks for power storage, and the life cycle management of these batteries through effective recycling processes is crucial for both economic and environmental reasons.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Battery recycling encompasses the process of reclaiming and reusing materials from spent batteries, reducing the need for raw materials and minimising environmental hazards. From lead-acid batteries used in vehicles to lithium-ion batteries prevalent in consumer electronics and electric vehicles, the importance of recycling these energy storage units has become paramount.
A key driver of the global battery recycling market growth is the escalating concern regarding environmental pollution. Spent batteries, when discarded irresponsibly, pose severe ecological risks due to the hazardous chemicals and heavy metals they contain. This environmental aspect, coupled with the ever-growing demand for batteries, particularly in the automotive and electronics sectors, underscores the necessity of robust recycling mechanisms.
Furthermore, technological advancements and the digitisation wave have boosted the proliferation of electronic devices, subsequently leading to a heightened demand for batteries. As these batteries reach their end of life, efficient recycling processes are essential to ensure that the precious metals and chemicals they contain are effectively reclaimed and repurposed, reducing waste and alleviating the strain on natural resources.
Adding to the battery recycling market demand is the automotive sector's paradigm shift towards electric vehicles (EVs). As EV adoption rates soar globally, spurred by governmental policies and a collective push towards a greener future, the number of spent batteries will inevitably rise. This surge offers immense potential for the market growth, given that these batteries are larger and comprise more recyclable material than their smaller counterparts in electronic devices.
As per the battery recycling market analysis, the vast applications and implications of battery usage extend to sectors like renewable energy, where energy storage plays a pivotal role. Wind and solar energy installations often rely on large battery banks for power storage, and the life cycle management of these batteries through effective recycling processes is crucial for both economic and environmental reasons.
Market Segmentation
The market can be divided based on chemistry, application, and region.Market Breakup by Chemistry
- Lithium-ion
- Lead Acid
- Nickel
- Others
Market Breakup by Application
- Transportation
- Consumer Electronics
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global battery recycling market. Some of the major players explored in the report are as follows:- Umicore
- Ecobat, LLC
- Glencore plc
- Li-Cycle Corporation
- American Battery Technology Company (ABTC)
- East Penn Manufacturing
- RecycLiCo Battery Materials Inc.
- Ganfeng Lithium Group Co., Ltd
- Exide Industries Limited
- EnerSys
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market16 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Battery Recycling Market Analysis
9 North America Battery Recycling Market Analysis
10 Europe Battery Recycling Market Analysis
11 Asia Pacific Battery Recycling Market Analysis
12 Latin America Battery Recycling Market Analysis
13 Middle East and Africa Battery Recycling Market Analysis
14 Market Dynamics
15 Competitive Landscape
Companies Mentioned
- Umicore
- Ecobat, LLC
- Glencore plc
- Li-Cycle Corporation
- American Battery Technology Company (ABTC)
- East Penn Manufacturing
- RecycLiCo Battery Materials Inc.
- Ganfeng Lithium Group Co., Ltd
- Exide Industries Limited
- EnerSys
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 160 |
Published | August 2023 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 12.23 Billion |
Forecasted Market Value ( USD | $ 17.8 Billion |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |