Battery Recycling Market Trends 2021: Challenges, Growth Drivers
Market Highlights
Global Battery Recycling Market growth is projected to be valued at USD 23.5 Billion by 2026, with 6.20% CAGR during the forecast period, 2020–2026. Battery recycling refers to recycling activity to reduce the batteries being disposed of as solid waste. These batteries contain heavy metals that raise concerns over environmental contamination.
In 2019, Asia-Pacific dominated the battery recycling market in terms of share: MRFR
The battery recycling market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the market during the forecast period. This is primarily because countries in the region are extensively focused on battery recycling to reduce soil contamination and water pollution. In Asia-Pacific, China held the largest market share in 2018 due to the growing demand for electric vehicles. While the battery recycling market is expected to grow at the fastest CAGR in India and China, during the forecast period due to initiatives for the policies and programs related to environmental regulation curbing health hazards. In North America, the US held the largest share in the market and is expected to grow at the fastest CAGR during the forecast period, due the R&D programs and initiatives to profitably capture 90% of all lithium-based batteries in the US to be collected and recycled. In Europe, Germany held the largest market share in 2018 and is expected to grow at the fastest rate during the forecast period. The countries in the region are supported by the European Union to achieve a high battery recycling rate to reduce water pollution. In the Middle East & Africa, the UAE is expected to be one of the leading markets for battery recycling.
The global battery recycling market has been segmented based on chemistry, application, and source. Based on chemistry, the global market is divided into lead-acid, nickel-based, lithium-based, and others. The lead-acid segment is expected to hold a larger share of the market and grow at the fastest rate during the forecast period. This is due to the recycling nature of lead-acid batteries and due to their wider applications compared to other types of battery chemistry. Based on application, the battery recycling market is segmented into transportation, consumer electronics, industrial, and others. The industrial segment holds the largest share due to various applications of batteries in a varied range of industries with applications in UPS systems, forklifts, emergency power backup, and heavy machinery, among others. Additionally, countries such as Japan, China, the US, and India are expanding their battery recycling plants. Based on source, the global battery recycling market has been divided into automotive batteries, industrial batteries, and consumer electronic appliance batteries. The automotive batteries segment is expected to hold the largest share of the global battery recycling market.
Key Players
The key players operating in the global battery recycling market are Exide Industries Ltd (India), Contemporary Amperex Technology Co. Ltd (CATL) (China), Retriev Technologies, Inc. (US), Call2Recylce, Inc. (US), Exide Technologies (US), Battery Solutions, LLC (US), Umicore (Belgium), Aqua Metals, Inc. (US), Neometals Ltd (Australia), Enersys (US), Johnson Controls International plc (US), Ecobat Logistics (US), Fortum Oyj (Finland), Teck Resources Limited (Canada), American Manganese Inc. (Canada), and TES-AMM Singapore Pte Ltd (Singapore).
Global Battery Recycling Market is battery recycling expected to grow at 6.20% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global battery recycling market trends, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global battery recycling market by chemistry, application, source, and region.
Chemistry
- Lead-acid
- Lithium-based
- Nickel-based
- Others
- Application
- Transportation
- Consumer electronics
- Industrial
- Others
- Source
- Automotive batteries
- Industrial batteries
- Consumer electronic appliance batteries
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
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