New York, NY, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Battery Recycling Market by Chemistry (Lead Acid Battery, Lithium-Based Battery, and Nickel-Based Battery), By Source (Automotive Batteries, Consumer & Electronic Appliance Batteries, and Industrial Batteries), By End-Use (Disposal, Reuse, Repackaging & Second Life, and Extraction of Material), and by Material (Manganese, Iron, Lithium, Nickel, Cobalt, Lead, Plastic, and Aluminum): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global battery recycling market was at USD 10,000 million in 2018 and is expected to reach around USD 21,060 million by 2025, at a CAGR of 10.4% between 2019 and 2025.
The battery recycling market is one of the flourishing markets globally, owing to both environmental and economic advantages of battery recycling. The process of battery recycling extracts reusable hazardous components out of batteries through advanced and extremely careful mechanical and chemical methods and provides those components to battery manufacturers at a reasonable price.
Browse through 71 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Battery Recycling Market Size & Share 2018 Report: Industry Type, Applications, Trends, Growth, Applications, Analysis and Forecast, 2025”.
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The growing use of electronic gadgets, the rising potential market of E-vehicles, and strict governmental laws to preserve environmental health are the primary growth factors for the global battery recycling market. The global demand for electronic devices, such as laptops, smartphones, tablets, and digital cameras, is on a consistent rise, which can be attributed to the increasing purchasing power of the people in the developing countries. The electric vehicles market is completely untapped for batteries, which is a new growth avenue for the battery recycling market. The most populous country in the world—China is the biggest market for EVs, with around 4% market penetration. The demand for electric vehicles in China is consistently rising by registering a 62% rise in 2017. The number of new energy vehicles sold in China during 2018 was 1.3 million. On a global landscape, the EV market has grown six-fold since 2013. However, low awareness of battery recycling at the individual level and the potential threat of severe damage due to unsafe handling and storage of used batteries may hamper this market.
The global battery recycling market is fragmented on the basis of chemistry, source, end-use, and material. By chemistry, the market includes a nickel-based battery, lead acid battery, and lithium-based battery. Lead acid batteries are projected to hold the largest share in the future. Additionally, lithium-based batteries are expected to grow significantly in the years ahead.
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On the basis of source, the market includes consumer and electronic appliance batteries, industrial batteries, and automotive batteries. The automobile batteries segment holds around 40% market share globally and is expected to dominate in the future as well. This can be attributed to the flourishing E-vehicles market potential.
By end-use, the global battery recycling market is divided into the extraction of material, reuse, repackaging and second life, and disposal. The material segment comprises iron, manganese, lithium, cobalt, nickel, lead, aluminum, and plastic.
Browse the full “Battery Recycling Market by Chemistry (Lead Acid Battery, Lithium-Based Battery, and Nickel-Based Battery), By Source (Automotive Batteries, Consumer & Electronic Appliance Batteries, and Industrial Batteries), By End-Use (Disposal, Reuse, Repackaging & Second Life, and Extraction of Material), and by Material (Manganese, Iron, Lithium, Nickel, Cobalt, Lead, Plastic, and Aluminum): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/battery-recycling-market
Europe was the largest region and accounted for around 40% of the global battery recycling market in 2018, due to the availability of advanced technologies and stringent government regulations. Germany, the UK, and France have majorly boosted this regional market. The European Union has set the target for all member nations to achieve a specific percentage of the set type of batteries to be recycled. According to these norms, 65.0%, 75.0%, and 50.0% weight of batteries must be recovered as recycled material for lead-acid, nickel-cadmium, and other battery types, respectively. Furthermore, the rising trend of E-vehicles and the presence of key market players in the region will further strengthen the battery recycling market in Europe.
North America is projected to be the second fastest-growing market in the years ahead. This can be attributed to the wide recycling of used lead-acid batteries, i.e., almost 100%, in this region. In the U.S., this rate is just slightly lesser as 99.0%. The growing demand for UPSs for infrastructure applications, developing E-Vehicles market with global players like Tesla, and the presence of key recyclers like Call2Recycle; AquaMetals, Enersys, and Battery Solutions are also expected to drive the North American battery recycling market.
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The Asia Pacific battery recycling market is projected to register the highest CAGR, around 11.7%, over the forecast time period, owing to the increasing demand for batteries, growing concerns over environmental protection, rising number of establishments of required facilities for battery recycling units, escalating regional demand for electronic gadgets, particularly in the emerging markets of China and India, and flourishing E-vehicles (EV) market. The most populous country in the world—China is the biggest market for EVs, with around 4% market penetration. The demand for electric vehicles in China is consistently rising by registering a 62% rise in 2017. The number of new energy vehicles sold in China during 2018 was 1.3 million. India is likely to be the fifth-largest global economy by GDP the world by 2019, owing to its huge potential for electronic gadgets like smartphones, digital cameras, computers, etc.
Latin America is expected to register significant market growth, owing to the increasing foreign investments in the region. Large-scale passenger and commercial vehicle production are projected to fuel the demand for recycling units for lithium acid batteries. The Middle East and Africa exhibit sluggish growth in the global battery recycling market, due to the lack of awareness regarding environmental protection and the absence of basic amenities and skilled workforce required for this market.
Some key players operating in the global battery recycling market are Call2Recycle, G&P Batteries, Johnson Controls, Eco-Bat Technologies, Battery Solutions, Vinton Batteries, Umicore, AquaMetals, Exide Technologies, and Accurec Recycling.
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This report segments the global battery recycling market into:
Global Battery Recycling Market: Chemistry Analysis
- Lithium-Based Battery
- Nickel-Based Battery
- Lead Acid Battery
Global Battery Recycling Market: Source Analysis
- Automotive Batteries
- Consumer and Electronic Appliance Batteries
- Industrial Batteries
Global Battery Recycling Market: End-Use Analysis
- Disposal
- Reuse
- Repackaging and Second Life
- Extraction of Material
Global Battery Recycling Market: Material Analysis
- Manganese
- Iron
- Lithium
- Nickel
- Cobalt
- Lead
- Plastic
- Aluminum
Global Battery Recycling Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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