Lithium-ion Battery Recycling Market Size USD 19380 Million By 2026 At A CAGR 38.1% - Valuates Reports
BANGALORE, India, Nov. 30, 2020 /PRNewswire/ -- The Lithium-ion Battery Recycling Market is segmented by Type - LiCoO2 Battery, NMC Battery, LiFePO4 Battery, by Applications - Automotive, Marine , Industrial, Electric Power etc. It also covers Global Opportunity Analysis and Industry Forecast to 2026. This report is published on Valuates Reports in the Energy & Utilities Category.
The Global Lithium-ion Battery Recycling market size is projected to reach USD 19380 million by 2026, from USD 2794.4 million in 2020, at a CAGR of 38.1% during 2021-2026.
Major factors driving the growth of Lithium-ion Battery recycling market size are, decreasing lithium-ion battery prices, increasing electric vehicles' adoption, rising concerns about battery waste disposal and strict government policies.
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TRENDS INFLUENCING THE GROWTH OF LITHIUM-ION BATTERY RECYCLING MARKET SIZE
One of the key factors driving the growth of lithium-ion battery recycling market size is growing investments in electric vehicle production. Most businesses have begun recycling lithium-ion batteries as some raw materials such as lithium and cobalt have low accessibility.
In the midst of policy-level measures to encourage renewable power generation and the massive deployment of electric vehicles, the power sector is experiencing substantial growth due to the need for energy storage solutions. Thus the increasing adoption of lithium-ion batteries in the power sector is, in turn, expected to increase the lithium-ion recycling battery market size.
Technological advancement is expected to increase the growth of the lithium-ion battery market size. Technologically advanced batteries are likely to create a huge incentive for battery recycling companies to invest and channel their capital into creating revolutionary technology for battery recycling.
Stringent government regulations and EPA guidelines imposed by countries around the globe are expected to drive the Lithium-ion battery recycling market size. Batteries come with a lot of heavy metals and hazardous chemicals. Direct disposal of batteries as waste has garnered environmental concerns owing to contamination of soil and water. Thus, strict rules are being imposed by governments worldwide to encourage recycling of batteries.
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LITHIUM-ION BATTERY RECYCLING MARKET SHARE ANALYSIS
North America is expected to hold the largest Lithium-ion battery recycling market share during the forecast period. North America's dominance is attributed to the stringent regulations implemented by the Environmental Protection Agency (EPA) regarding air emission standards in the region. The US and Canada are the major lithium-ion battery recycling markets in the North American region.
Due to the rapidly growing end-use industries, including automotive, consumer electronics and industrial applications, the Asia Pacific region is expected to be the fastest-growing Lithium-ion battery recycling market during the forecast period.
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TOP COMPANIES IN THE LITHIUM-ION BATTERY RECYCLING MARKET SIZE
Prices drive the Lithium-ion battery recycling market. As most recyclers use more or less the same technology, price becomes a key distinguishing factor. High competition among players does not allow for substantial price volatility, thereby reducing the profitability of recycling companies.
KEY PLAYERS
- Umicore
- GEM
- Brunp Recycling
- SungEel HiTech
- Taisen Recycling
- Batrec
- Retriev Technologies
- Tes-Amm(Recupyl)
- Duesenfeld
- 4R Energy Corp
- OnTo Technology
- Others
KEY SEGMENT BY REGION
- North America
- Europe
- China
- Japan
- ROW
KEY SEGMENT BY TYPE
- LiCoO2 Battery
- NMC Battery
- LiFePO4 Battery
- Other
KEY SEGMENT BY APPLICATION
- Automotive
- Marine
- Industrial
- Electric Power
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SIMILAR REPORTS
- Lithium-ion Battery Recycling sales market size (value & volume) by key players, type, application, and region. This report segmented by type - Lithium-nickel Manganese Cobalt,, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO, application - car, ships, industrial, Region - North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
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- The global Lithium-Ion Battery Separator market size is projected to reach USD 15390 million by 2026, from USD 8084.2 million in 2020, at a CAGR of 11.3% during 2021-2026. Based on application, the Automotive segment is expected to hold the largest Lithium-Ion Battery Separator Market share of about 58%. Consumer Electronics holds the second-largest share of about 31%. The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by TypeType and the application segment in terms of sales and revenue for 2015-2026.
- The global lithium-ion battery market was valued at USD 36.7 billion in 2019 and is projected to hit USD 129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027. The Lithium Ion Battery Market is segmented by Component (Cathode, Anode, Electrolytic Solution, and Others), End-use Industry [Electrical & Electronics (Smartphones &Tablet/PC, UPS, and Others) and Automotive (Cars, Buses, &Trucks; Scooters & Bikes;and Trains & Aircraft), and Industrial (Cranes & Forklift, Mining Equipment, and Smart Grid & Renewable Energy Storage)
- United states Lithium-ion Battery Recycling market report segmented by type - Lithium-nickel Manganese Cobalt,, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO, application - car, ships, industrial, Region - North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America & key players.
- EMEA Lithium-ion Battery Recycling market report segmented by type - Lithium-nickel Manganese Cobalt,, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO, application - car, ships, industrial, Region - North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America & key players.
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- Asia Pacific Lithium-ion Battery Recycling market report segmented by type - Lithium-nickel Manganese Cobalt,, Lithium-iron Phosphate, Lithium-Manganese Oxide, LTO, NCA, LCO, application - car, ships, industrial, Region - North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America & key players.
- This report focuses on the global Lithium Ion Battery Recyclers Market status future forecast growth opportunity key market and key players & segmented into Product Type - LiCoO2 Battery, Ternary Battery, LiFePO4 Battery, Other Battery, Application - Digital Lithium Battery, Power Lithium Battery, Region: Global, North America, Europe, China, Japan, Southeast Asia India & key players.
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