Battery Recycling Market Witnessing High Growth By Key Players | Outlook To 2030
Battery Recycling Market
Analysis:
Battery
Recycling Market is projected to be worth USD 34.77 billion by
2030, registering a CAGR of 5.35% during the forecast period (2022 - 2030).
MRFR’s report on the battery
recycling market highlights trends and opportunities for companies looking to
cut costs and pursue sustainable production methods during the forecast period
(2020-2027). The COVID-19 pandemic and its implications are explored in depth
in the market.
Market Scope
The global battery
recycling market is fueled by efforts made by governments in curing emission
levels and reducing reliance on fossil fuels as a energy source. Stringent
government regulations over disposal of batteries, dipping prices of batteries,
and establishment of recycling units can propel market growth. Shift to
electric vehicles and inclination towards lithium-ion batteries can augur
favorably for the market.
But fluctuating prices of
raw materials may hamper market growth.
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COVID-19 Impact Analysis
Segmentation Analysis
Lead-acid Batteries to
Lead in Global Market Share
Lead-acid batteries can
capture a huge market share owing to its reliability, efficiency, and wide
scope of applications. Its recyclable nature can be a plus for the battery
recycling market over the forecast period.
Automotive Batteries to be
Biggest Source for Global Market
Automotive batteries can
lead the market demand owing to shift to electric engines from conventional ICE
engines by manufacturers and increasing procurement of electric vehicles. Rapid
urbanization and large strides in batteries can drive segment growth during the
assessment period.
Competitive Analysis
Gopher Resource LLC (US),
Retriev Technologies Inc. (US), Teck Resources Limited (Canada), Fortum Oyj
(Finland), Battery Solutions, LLC (US), RSR Corporation (US), Exide Technologies
(US), GEM Co., Ltd. (China), Gravita India Limited (India), East Penn
Manufacturing Company, Inc. (US), Raw Materials Company Inc. (RMC) (Canada),
COM2 Recycling Solutions (US), Contemporary Amperex Technology Co. Ltd. (CATL)
(China), EnerSys (US), The Doe Run Company (US), American Manganese Inc.
(Canada), Neometals Ltd (Australia), ECOBAT Logistics (UK), TES-AMM Singapore
Pte Ltd (Singapore), Johnson Controls International plc (US), Aqua Metals, Inc.
(US), Exide Industries Ltd. (India), Call2Recycle, Inc. (US), Glencore
International AG (Switzerland), Terrapure Environmental (Canada), and Umicore
(Belgium) are key players in the global battery recycling market. Acquisitions
are the main gameplay of players looking to sustain their position.
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Regional Analysis
APAC to Capture Major
Market Shares
Asia-Pacific (APAC) is
expected to capture a major share of the battery recycling market owing to
demand for electric vehicles and smart devices. Establishment of charging
infrastructure and environmental regulations for curbing carbon emissions can
drive regional market growth. China, India, and Japan can contribute to
regional demand due to demand from the automotive sector.
Industry News
Koch Industries has invested USD 100 million in Li-Cycle, a North America battery recycling company, to scale its operations in the U.S.
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