Lead-acid Battery Scrap Market to Reach Value of US$ 28.8 Bn by 2031, Says TMR Report

• The lead-acid battery scrap market is projected to expand at a CAGR of 10.47% during 2022-2031
• Rise in the sales of vehicles across the globe is creating profitable opportunities for the lead-acid battery scrap market
• Increase in government initiatives for spreading awareness about battery recycling is fueling the market expansion

WILMINGTON, Del., Sept. 2, 2022 /PRNewswire/ -- The global market share for lead-acid battery scrap market is expected to reach a value of US$ 28.8 Bn by 2031, according to a research report by Transparency Market Research (TMR). This denotes that the market is prognosticated to grow at a CAGR 10.47% during the forecast period, 2022-2031.

The report by TMR offers in-depth insights on the lead-acid battery scrap market including exhaustive study of major factors influencing the market expansion such as the growth drivers, growth restraints, challenges, and expansion avenues in the market. Moreover, the study sheds light on important market trends, recent developments, and market value of lead-acid battery scrap in different regions.

Lead-acid batteries are being increasingly utilized in large-capacity rechargeable batteries owing to their different advantages including their dependability and cost-effective nature. Approximately 75% of lead is being utilized in batteries used in industrial and automotive applications including uninterruptible power supplies, solar power storage, and vehicles. This factor is expected to result into a rise in the sales of lead-acid battery scrap market during the forecast period, note analysts at TMR.  

Due to rising global population and improving spending power of people, the demand for passenger vehicles is being increasing across the globe. This factor is projected to help in the global lead-acid battery scrap market growth in the upcoming years, states a TMR study.

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Lead-acid Battery Scrap Market: Key Findings

• Lead is a one of the important raw materials that find application in the production of lead-acid batteries. The metal holds high risks to affect the human life as well as the environment. Inappropriate batteries disposal in landfills can result into pollution of groundwater as well as surface water sources with lead. Growing understanding about these risks are resulting into a surge in initiatives in order to recycle the batteries. This factor is expected to drive the sales growth in the global lead-acid battery scrap market during the forecast period.
• Generally, lead-acid batteries are manufactured using approximately 70% to 100% of recyclable lead. Hence, the recycling of these batteries can provide significant amount of money. Though lead is non-renewable, its recycling can be performed unlimited number of times. As a result, a continuous supply of lead can be obtained from used batteries. This factor is creating revenue-generation opportunities in the global lead-acid battery scrap market.
• Over the period of past few years, there has been increase in number of collaboration agreements between non-profit organizations and automotive companies in order to spread awareness on the concept of battery recycling. This factor is resulting into increasing the flow of lead-acid battery scrap for recycling activities, which in turn, is propelling the global lead-acid battery scrap market.

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Lead-acid Battery Scrap Market: Growth Boosters

• Surge in understanding pertaining to the environment and health-related risks is boosting the market growth
• Increase in the sales of vehicles is bolstering the lead-acid battery scrap market

Lead-acid Battery Scrap Market: Key Players

Some of the key players profiled in the report are:

• Gravita India Ltd
• EnviroServe
• Exide Industries Ltd.
• EnerSys
• Aqua Metals Inc.
• SYSTEMS SUNLIGHT S.A.
• AMIDT GROUP
• Battery Solutions LLC
• Engitec Technologies SpA
• Duracell Inc.
• Bee'ah Sharjah Environment Company LLC
• ECOBAT Technologies Ltd
• Johnson Controls International PLC
• Madenat Al Nokhba Recycling Services LLC

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Lead-acid Battery Scrap Market Segmentation

• Source
• Motor Vehicle
• UPS
• Telecom Station
• Electric Power Industry
• Watercraft
• Aircraft
• Military
• Oil & Gas Industry
• Stand-alone Systems
• Others
• Method
• Collection & Segregation
• Hydrometallurgical Treatment
• Pyrometallurgical Treatment
• Neutralization of Acid
• Product
• Lead
• Sulfuric Acid
• Others
• Battery Type
• Flooded
• Sealed
• AGM
• Gel

Regions Covered

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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SOURCE Transparency Market Research