The Battery Recycling Market is expected to register a CAGR of~5.4% from 2023 to 2030 and hold a value of over USD 34,771.2 billion by 2030.
The battery recycling market refers to the industry that involves the collection, processing, and reuse of used or discarded batteries. The market is driven by the increasing demand for sustainable practices, coupled with the rising environmental concerns related to the disposal of batteries. The battery recycling process involves the recovery of valuable materials, such as metals, from used batteries, which can then be reused in the production of new batteries.
The battery recycling market is expected to continue growing in the coming years as governments and industries focus on reducing waste and promoting sustainable practices.
The COVID-19 pandemic had significant impacts on the battery recycling market. The pandemic has led to a surge in demand for electric vehicles and energy storage systems, which has driven the demand for batteries. As a result, the battery recycling market has experienced growth, as more batteries are being produced and disposed of.
The pandemic has disrupted the supply chains and logistics of the battery recycling industry. The lockdowns and restrictions on movement have slowed down the collection and transportation of used batteries, which has affected the recycling process.
Key Players
Some of the key market players are:
· Call2Recylce Inc. (US)
· Exide Technologies (US)
· Battery Solutions LLC (US)
· Umicore (Belgium)
· Exide Industries Ltd (India)
· Aqua Metals Inc. (US)
· Enersys (US)
· Johnson Controls International plc (US)
· Retriev Technologies Inc. (US)
· Gravita India Ltd (India)
· Ecobat Logistics (US)
Regional Analysis
The Asia-Pacific region is currently the largest market for battery recycling. The region is home to some of the largest and fastest-growing economies in the world, including China, Japan, South Korea, and India. These countries are major consumers of batteries, particularly in the automotive and electronics sectors, and generate large volumes of used batteries.
The Asia-Pacific region has also made significant investments in the development of the battery recycling industry, with the aim of reducing dependence on imports of critical metals and promoting sustainable practices. Governments in the region have implemented regulations and policies to support the growth of the battery recycling market, including incentives for recycling companies and requirements for the responsible disposal of batteries.
Market Segmentation
The Battery Recycling Market Size has been segmented into chemistry and application.
Based on the chemistry, the battery recycling market has been segmented into lead-acid, nickel-based and lithium-based.
Based on the application, the battery recycling market has been segmented into transportation, consumer electronics and industrial.
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