Battery Recycling Market To Reach Valuation of USD 34,771.2 Million By 2030 | Global Industry Demand Outlook

Battery Recycling Market Insights:

The Global Battery Recycling Market is estimated to be worth USD 34,771.2 Million by 2030, registering a 5.4% CAGR during the forecast period (2022- 2030).

Rising environmental concern all over the world has made recycling used products a necessary task to respond to the global demand of reducing mankind’s carbon footprint in the long run. Other significant reasons accounting for this substantial growth of the market during the forecast period will comprise growing concerns regarding depleting precious and rare earth metals, rising demand for recycled batteries on the whole, and strict government regulations and EPA (Environmental Protection Agency) guidelines targeted at reducing harmful emissions and disrupting global pollution.

The battery recycling market growth is mainly driven by rising concerns over battery waste disposal and strict government policies in light of the expanded usage of lithium-ion batteries. This expansion in usage is attributable to the decline in lithium-ion battery prices and the growing relinquishment of electric vehicles which largely depend on this battery type. The toxic waste that comes from manufacturing new batteries is enormously higher than the toxic waste generated while recycling them. That's a substantial reason many governments have introduced commendatory regulations for this industry and these regulations are anticipated to keep market trends growing upwards.

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During the forecast year, the global battery recovery request trends will be driven by growing environmental mindfulness worldwide. While manufacturing batteries is quite an inexpensive procedure as compared to recycling them, the universal negative environmental impact that comes with manufacturing them is punching the governments towards recycling projects.

Regional Analysis

The Global Battery Recycling Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific region will be seen leading the market during the forecast period with the topmost projected CAGR. A boost in the demand for electric vehicles and augmenting environmental regulations in the APAC nations will be responsible for the growth of the Asia Pacific market. China, India, Japan, and South Korea will be herded into this market.

Europe has always dominated the global market and a majority of its demand comes from nations like the United Kingdom, Germany, and Russia. Germany has held its market leader position for lead-acid batteries across Europe. Besides domestic consumption, Germany has similarly remained a regional hotspot for the trade of lead-acid batteries worldwide.

The demand for battery cells in an environment-friendly Europe is anticipated to exceed 300 GWh by 2026. Growth is attributable to the lightning development in the electrification of transportation solutions owing to the European car OEMs. This will furnish a massive boost and run the market in Europe during the forecast period.

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Market Segmentation

The global Battery Recycling Market is segmented into the following types;

By Chemistry

Lithium-ion Battery Lead-acid Nickel Others

By Process

Pyrometallurgical Hydrometallurgical Others

By Application

Electric Cars Electric Buses Energy Storage Systems Others 

By End User

Transportation Consumer electronics Industrial

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Key Players

The global Battery Recycling Market’s prominent key players are Call2Recylce Inc. (US), Exide Technologies (US), Battery Solutions LLC (US), Umicore (Belgium), Exide Industries Ltd. (India), Contemporary Amperex Technology Co. Ltd. (CATL) (China), Aqua Metals Inc. (US), Enersys (US), Johnson Controls International plc (US), Retriev Technologies Inc. (US), Gravita India Ltd. (India), Ecobat Logistics (US), Fortum Oyj (Finland), Teck Resources Limited (Canada), American Manganese Inc. (Canada), Neometals Ltd. (Australia) and TES-AMM Singapore Pte Ltd. (Singapore).

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