The global battery recycling market size was valued at USD 8.74 billion in 2016 and is anticipated to reach USD 21.04 billion by 2025, with a CAGR of 10.4%. Stringent government regulations coupled with a progressive environment to pursue factors related to a reduction in emission of formidable greenhouse gases and compliance with environmental protection and conservation is proving to be a growing impetus for the battery recycling market. Spent batteries pose immense health hazards and impair the ecosystem significantly and coupled with the government recognizing the need for implementing initiatives to recycle batteries are constructive drivers to the market.
Successful JV’s between profitable ventures and NGOs in collaboration with leading automobile manufacturers have boosted the battery recycling market. The battery recycles market still being in a nascent stage and giving leverage to technological advancements comprising new entrants and small players descending on the market with high capital investments notwithstanding, the market is surging forward thanks to growing incentives from government and environmental institutions.
Mergers and Acquisitions (M and A) have also incremented sales forecasting impressive sales figures with concurrent business expansions leading to satisfied customers. Restraints, owing to ignorance of the discerning populace about battery recycling and environmental constraints about battery disposal exist, with the awareness level of industries continuing to be strong thanks to the application of recycled batteries in the electronics and automotive sectors.
Based on battery source, the battery recycling market is segmented into automotive, electronic appliances, and others. Based on chemistry, the battery recycling market is segmented into lithium-ion, lead-acid, and Nickel Cadmium (Ni-Cd). Based on end-use, the classification comprises extraction of material, repackaging, reuse, and second life, disposal.
Region-wise segmentation includes North America, Europe, Asia Pacific, MEA, and Latin America. The automotive sector in the battery recycling market continues to enjoy wide popularity in the spent battery source segment during the forecast period and hence is a confirmed market leader in the battery recycling market. A proportionately high figure of lead-acid batteries conventionally employed in vehicles and displaying a predisposition towards the recycling industry has given rise to the battery recycling market which has boosted the market.
As a news article dated Jul 2016 puts, a record 7.3 million pounds worth of single-use and rechargeable batteries have been recycled in 2016. This corresponds to an excess of 115 million batteries being diverted from Canadian and U.S landfills and being put to recycle over the past 20 years. As a news article dated Mar 2016 puts in print, the actual amount of waste batteries collected in 2015 exceeded 14,879 tons and a significant drop is observed in the last quarter of the year totaling 4,022 tons. The amount noticed was in a ratio of 2507 tons for lead-acid batteries to 125 tons with Ni-Cd batteries.
The news also lets out that the recycling target can be attached to only portable batteries and the UK has significantly raised the portability bar to 4Kg by this stipulation, waste batteries weighing more than 4Kg cannot be termed as portable. The key industry players include battery Solutions LLC, Call2Recycle, Inc., EastPenn Manufacturing Co, EnerSys, Exide Technologies, G and P Batteries, Gravita India Ltd., Johnson Controls, Inc., Retriev Technologies, Inc., and UmiCore N.V.
Chemistry Outlook (Revenue, USD Million; 2014 - 2025)
Application Outlook (Revenue, USD Million; 2014 - 2025)
• Consumer electronics
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA
FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...