Battery Recycling Market worth $54.3 billion by 2030 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 13, 2023 /PRNewswire/ -- The report "Battery Recycling Market by Source (Automotive Batteries, Industrial Batteries, Consumer & Electronic Appliance Batteries), Chemistry (Lead Acid, Lithium-based, Nickel-based), Material (Metals, Electrolyte, Plastics) and Region - Global Forecast to 2030", is projected to grow from USD 26.9 billion in 2023 to USD 54.3 billion by 2030, at a CAGR of 10.5%. The mounting demand for electric vehicles to limit the rising pollution levels has spurred the consumption of batteries. While these have lower self-discharge rates than other rechargeable cells such as Ni-Cad and NiMH, they offer high energy and power density and are thus used in various applications, from cellular phones, industrial equipment, to electric-drive vehicles.

Browse in-depth TOC on "Battery Recycling Market"
120 – Tables
40 – Figures
150 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147696175

By source, the automotive batteries segment is estimated to account for the largest share of battery recycling market during 2023 to 2030.

The automotive segment, by source, is projected to be the largest market during the forecast period. The recovered materials from automotive battery recycling can be used to manufacture new batteries. They undergo purification and refinement processes to meet the required quality standards. The number of automotive batteries reaching the end of their useful lives has increased significantly because of the growing global demand for electric vehicles. Effective recycling solutions are required to handle the rising volume of spent batteries as EV sales continue to soar. This propels the demand for battery recycling in the automotive batteries segment.

By chemistry, the lead acid batteries segment accounted for the largest share of battery recycling market in 2022.

The lead acid batteries segment, by chemistry, was the largest market in 2022. The market for battery recycling is significantly influenced by the need for secondary lead, which is produced from used lead acid batteries. Many industries, including construction, battery manufacturing, and automotive sectors, use secondary lead. The growth of this segment is attributed to the demand for secondary lead, which can be produced through battery recycling as it reduces the need for primary lead production.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=147696175

Asia Pacific is estimated to account for the largest share of battery recycling market during 2023 to 2030.

The growing demand for electric vehicles (EVs) and increasing environmental regulations are responsible for the growth of the Asia Pacific battery recycling market. Continuously increasing motor vehicle pollution in emerging economies, such as China and India, is expected to contribute to the growth of the EV market in Asia Pacific, which, in turn, will boost the battery recycling market in the region. Also, China is a hub for battery manufacturing companies around the world. The market growth in China is attributed to the high demand for battery recycling from the automotive industry.

The major players operating in the battery recycling market include ACCUREC Recycling GmbH (Germany), American Battery Technology Company (US), Aqua Metals, Inc. (US), Call2Recycle, Inc. (US), Cirba Solutions (US), Contemporary Amperex Technology Co., Limited (China), East Penn Manufacturing Company (US), Ecobat (US), Element Resources (US), EnerSys (US), Exide Industries Ltd. (India), Fortum (Finland), GEM Co., Ltd. (China), Glencore (Switzerland), Gopher Resource (US), Gravita India Limited (India), Li-Cycle Corp. (Canada), Neometals Ltd. (Australia), Raw Materials Company (Canada), RecycLiCo Battery Materials Inc. (Canada), Redwood Materials Inc. (US), Shenzhen Highpower Technology Co., Ltd. (China), Stena Recycling (Sweden), TES (Singapore), Terrapure (Canada), The Doe Run Company (US), The International Metals Reclamation Company (US), and Umicore (Belgium), and others

Browse Adjacent Market: Equipment Machine and Tooling Market Research & Consulting

Related Reports:

Lithium-Ion Battery Dispersant Market - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/battery-recycling-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/battery-recycling.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets