Battery Recycling Market
PUBLISHED: 2023 ID: SMRC22241
SHARE
SHARE

Battery Recycling Market

Battery Recycling Market Forecasts to 2028 - Global Analysis By Chemistry (Lead acid, Lithium-ion, Nickel and Other Chemistries), Application (Consumer electronics, Industrial, Transportation and Other Applications), and By Geography

4.3 (66 reviews)
4.3 (66 reviews)
Published: 2023 ID: SMRC22241

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $16.38 BN

Projected Year Value (2028)

US $52.71 BN

CAGR (2022 - 2028)

21.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe

 

According to Stratistics MRC, the Global Battery Recycling Market is accounted for $16.38 billion in 2022 and is expected to reach $52.71 billion by 2028 growing at a CAGR of 21.5% during the forecast period. Battery recycling is the method of reusing and reprocessing batteries to reduce the number of batteries being disposed off as municipal solid waste. It encourages the efficient use of the battery. It helps to reduce energy consumption and manufacturing costs worldwide. The batteries are mostly collected from automotive, industrial, consumer and electronic appliances. The recovered batteries are recycled and go for second use in lower power applications. This process help in the reduction of CO2 emissions to a large extent and energy requirements related to mining.

According to Alternative Fuels Data Center (AFDC), U.S Department of Energy, lithium-ion batteries are being significantly implemented in Plug-in Hybrid Electric Vehicles (PHEV) and Hybrid Electric Vehicles (HEV). The sales of electric vehicles have reached 6.6 million.



Market Dynamics:

Driver:

Limited availability of lithium

The increasing usage of lithium in industries has led to a rise in the concerns over its limited availability for future applications. The mining of lithium has a negative environmental impact, which includes water pollution due to chemical leakage. Recycling helps manufacturers ensure a sufficient quantity of lithium for further usage in battery and other applications. The recycling of lithium-ion batteries has gained traction and witnessed a huge growth in the market.

Restraint:

Requires advancements

More technical advancements should be made in this area so that recycling improves the quality of the goods. People are not aware of the recycled batteries. There are no incentives by government to encourage the recycling process. All these factors are restraining the consumers to opt for recycled batteries and thus hampering the growth of the market.

Opportunity:

Rapidly increasing demand for electric vehicles

Lithium-ion battery recycling solutions has increased the demand in the automotive industry. The surging adoption of electric vehicles is owing to the increasing environmental concerns. Recycling of the batteries in these electric vehicles and others in automotive industry helps in reduction of lithium consumption and reduces the environmental concerns and drives the growth of the market.

Threat:

Guarantee for products

Recycling does not guarantee good quality products. As the batteries are recycled, most of its efficiency will be consumed and the recycled batteries will have less efficiency. The value of the recycled products is comparatively low as compared to newer products. Low grades are created in this field which is hampering the growth of the market.

Covid-19 Impact

The COVID-19 impacted multiple industries. Many industries got permanently shut down and many faced huge losses. The battery recycling market has suffered due to the closing of manufacturing and recycling operations and stay-at-home orders. Battery recycling is a capital-intensive industry that needs substantial funding, manpower, and investment. The economic uncertainty caused by the pandemic has resulted in widespread unemployment and reduced consumer expenditure. This impacted the battery recycling business and disrupted the supply chain.

The transportation segment is expected to be the largest during the forecast period

The transportation segment is estimated to have a lucrative growth, due to its ability to deliver high power to start an engine. Various government regulatory agencies have implemented policies to support the hazards. Globally increasing income levels, a renewed desire for electric cars and other vehicles, favourable electric infrastructure growth and continued technological innovations are fuelling the market growth.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to high power usage. The forklift batteries and UPS systems are most used in this segment. These applications provide high power density and enhanced life expectancy. The increasing adoption of UPS systems as an essential power backup device is projected to fuel the market demand.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increase in demand for automobiles. The technological and infrastructural improvements are made in large pace. The increasing demand for UPS systems in commercial infrastructure, growing demand for electric vehicles, commercial cars and the presence of key recyclers in this region are anticipated to drive the demand for the market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the rising awareness about benefits of recycling of batteries. The European government's recycling efficiency targets are expected to enhance the battery recycling rate. It made guidelines stating that around 75.0%, 65.0%, and 50.0% weight of batteries must be recovered as recycled material for nickel-cadmium, lead-acid, and other chemistries which witnessed high growth in the market.



Key players in the market

Some of the key players profiled in the Battery Recycling Market include Gravita India Ltd, Exide Industries Ltd, Call2Recylce Inc, Umicore, Exide Technologies, Retriev Technologies Inc, Aqua Metals Inc, Battery Solutions LLC, Johnson Controls International plc, Fortum Oyj, Enersys, Contemporary Amperex Technology Co. Ltd, American Manganese Inc, Teck Resources Limited, TES-AMM Singapore Pte Ltd, Ecobat Logistics, Neometals Ltd, LI-Cycle Corporation, Redwood Materials Inc, Ganfeng Lithium Co Ltd

Key Developments:

In March 2022, Retriev Technologies, the most comprehensive lithium battery recycler in North America and the pioneer in end-of-life battery management, has acquired Battery Solutions. The combined offering brings two complementary industry leaders together to create the first and only comprehensive battery management solution in North America.

In Jan 2022, American Battery Solutions launches alliance I48-3.0 Lithium-Ion battery during 2022 PGA Show. The I48-3.0 offers up to 75% greater discharge capabilities than any other standard-sized Lithium-Ion battery, enabling it to endure the power of the most abusive aftermarket motor controllers offered on the market.

Chemistries Covered:
• Lead acid
• Lithium-ion
• Nickel
• Other Chemistries

Applications Covered:
• Consumer electronics
• Industrial
• Transportation
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Battery Recycling Market, By Chemistry
5.1 Introduction
5.2 Lead acid
5.3 Lithium-ion
5.4 Nickel
5.5 Other Chemistries

6 Global Battery Recycling Market, By Application
6.1 Introduction
6.2 Consumer electronics
6.3 Industrial
6.4 Transportation
6.5 Other Applications

7 Global Battery Recycling Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 Gravita India Ltd
9.2 Exide Industries Ltd
9.3 Call2Recylce Inc
9.4 Umicore
9.5 Exide Technologies
9.6 Retriev Technologies Inc
9.7 Aqua Metals Inc
9.8 Battery Solutions LLC
9.9 Johnson Controls International plc
9.10 Fortum Oyj
9.11 Enersys
9.12 Contemporary Amperex Technology Co. Ltd
9.13 American Manganese Inc
9.14 Teck Resources Limited
9.15 TES-AMM Singapore Pte Ltd
9.16 Ecobat Logistics
9.17 Neometals Ltd
9.18 LI-Cycle Corporation
9.19 Redwood Materials Inc
9.20 Ganfeng Lithium Co Ltd

List of Tables
1 Global Battery Recycling Market Outlook, By Region (2020-2028) ($MN)
2 Global Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
3 Global Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
4 Global Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
5 Global Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
6 Global Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
7 Global Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
8 Global Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
9 Global Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
10 Global Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
11 Global Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
12 North America Battery Recycling Market Outlook, By Country (2020-2028) ($MN)
13 North America Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
14 North America Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
15 North America Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
16 North America Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
17 North America Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
18 North America Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
19 North America Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
20 North America Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
21 North America Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
22 North America Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
23 Europe Battery Recycling Market Outlook, By Country (2020-2028) ($MN)
24 Europe Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
25 Europe Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
26 Europe Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
27 Europe Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
28 Europe Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
29 Europe Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
30 Europe Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
31 Europe Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
32 Europe Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
33 Europe Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
34 Asia Pacific Battery Recycling Market Outlook, By Country (2020-2028) ($MN)
35 Asia Pacific Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
36 Asia Pacific Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
37 Asia Pacific Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
38 Asia Pacific Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
39 Asia Pacific Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
40 Asia Pacific Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
41 Asia Pacific Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
42 Asia Pacific Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
43 Asia Pacific Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
44 Asia Pacific Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
45 South America Battery Recycling Market Outlook, By Country (2020-2028) ($MN)
46 South America Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
47 South America Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
48 South America Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
49 South America Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
50 South America Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
51 South America Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
52 South America Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
53 South America Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
54 South America Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
55 South America Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
56 Middle East & Africa Battery Recycling Market Outlook, By Country (2020-2028) ($MN)
57 Middle East & Africa Battery Recycling Market Outlook, By Chemistry (2020-2028) ($MN)
58 Middle East & Africa Battery Recycling Market Outlook, By Lead acid (2020-2028) ($MN)
59 Middle East & Africa Battery Recycling Market Outlook, By Lithium-ion (2020-2028) ($MN)
60 Middle East & Africa Battery Recycling Market Outlook, By Nickel (2020-2028) ($MN)
61 Middle East & Africa Battery Recycling Market Outlook, By Other Chemistries (2020-2028) ($MN)
62 Middle East & Africa Battery Recycling Market Outlook, By Application (2020-2028) ($MN)
63 Middle East & Africa Battery Recycling Market Outlook, By Consumer electronics (2020-2028) ($MN)
64 Middle East & Africa Battery Recycling Market Outlook, By Industrial (2020-2028) ($MN)
65 Middle East & Africa Battery Recycling Market Outlook, By Transportation (2020-2028) ($MN)
66 Middle East & Africa Battery Recycling Market Outlook, By Other Applications (2020-2028) ($MN)
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials