Dublin, Sept. 01, 2021 (GLOBE NEWSWIRE) -- The "Battery Recycling Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global battery recycling market is expected to grow from $9.97 billion in 2020 to $11.04 billion in 2021 at a compound annual growth rate (CAGR) of 10.76%. The market is expected to reach $16.90 billion in 2025 at a CAGR of 11.23%.
Major players in the battery recycling market are Li-Cycle, Battery Solutions, LLC, Exide Technologies, Umicore, Aqua Metals, Inc, Gravita India Limited, Exide Industries Ltd, ECOBAT Logistics, East Penn Manufacturing Company, ENERSYS, Fortum Oyj, Accurec Recycling GmbH, Eco-Bat Technologies Ltd, Terrapure Environmental, Brunp Recycling, and Anhua Taisen Recycling Technology.
The battery recycling market consists sales of recycled batteries by entities (organizations, sole traders and partnerships) and related services. Battery recycling is the method of reusing and reprocessing batteries in order to reduce the number of batteries being disposed as waste.
The main types of batteries that are recycled include lead-acid battery, nickel-based battery, lithium-based battery and other battery types. Lead acid batteries are charged continuously from the power grid and are normally designed to provide power for brief periods of time to allow the facility to properly shut down equipment. Lead-acid batteries are extremely recyclable, achieving recycling rates of more than 90% in many countries.
North America was the largest region in the battery recycling market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major companies operating in the battery recycling market are entering into strategic collaborations to improve know how and enhance battery recycling efficiency.
The increasing adoption of electric vehicles is expected to drive the growth of the battery recycling market in the forecast period. Electric vehicles (EV) are automobiles which are completely or partially powered by electricity. Disposing an electric vehicle battery is expensive, particularly if the waste contains valuable materials. Recycling is an opportunity to minimize life cycle costs by recovering high-value materials and avoiding the expense of hazardous waste disposal.
With the growth in EV sales, the number of lithium-ion batteries in the market increases. The limited life of these batteries requires an effective recycling medium in order to stabilize domestic source of materials for battery production, reduce the demand for raw materials and minimize geopolitical disruptions of the supply chain. After a period of 5-8 years the power generated by these batteries is not enough for the EV, but it can be used in other low-grade applications such as in households, energy backups, renewable energy storage and off-peak energy storage.
Recycling EV batteries also helps recover the metals - cobalt, lithium, nickel, and others, which can then be used for manufacturing new batteries, saving resources and cost of production. According to International Energy Agency, global electric vehicle sales are projected to reach 125 million by 2030. Therefore, the increasing adoption of electric vehicles propels the growth of the battery recycling market.
Key Topics Covered:
1. Executive Summary
2. Battery Recycling Market Characteristics
3. Battery Recycling Market Trends and Strategies
4. Impact Of COVID-19 On Battery Recycling
5. Battery Recycling Market Size and Growth
5.1. Global Battery Recycling Historic Market, 2015-2020, Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Battery Recycling Forecast Market, 2020-2025F, 2030F, Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Battery Recycling Market Segmentation
6.1. Global Battery Recycling Market, Segmentation By Type , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Lead-Acid Battery
- Nickel-Based Battery
- Lithium-Based Battery
- Other Battery Types
6.2. Global Battery Recycling Market, Segmentation By Processing State, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Extraction Of Material
- Reuse, Repackaging and Second Life
- Disposal
6.3. Global Battery Recycling Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Automotive
- Consumer Electronics
- Industrial
- Others
7. Battery Recycling Market Regional and Country Analysis
7.1. Global Battery Recycling Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
7.2. Global Battery Recycling Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
Companies Mentioned
- Li-Cycle
- Battery Solutions, LLC
- Exide Technologies
- Umicore
- Aqua Metals, Inc
- Gravita India Limited
- Exide Industries Ltd
- ECOBAT Logistics
- East Penn Manufacturing Company
- ENERSYS
- Fortum Oyj
- Accurec Recycling GmbH
- Eco-Bat Technologies Ltd
- Terrapure Environmental
- Brunp Recycling
- Anhua Taisen Recycling Technology
For more information about this report visit https://www.researchandmarkets.com/r/wjvf1w
