According to this report on the North American battery recycling market, the industry is estimated to propel at a CAGR of 9.82% over the forecast period 2020-2028.
The growth of end-user application industries, including industrial applications, automotive and consumer electronics, will create demand for recycled batteries in North America. With the development of electric vehicles in the region, the battery usage is likely to increase further.
Canada is witnessing substantial rise in investments in the construction sector, especially in Alberta and British Columbia. These projects include medical buildings, data centers, office buildings, government buildings, educational buildings, shopping centers and telecommunication towers.
As the construction industry is an end-user segment of batteries, the increasing construction activities in Canada are likely to drive the demand for battery market, which, in turn, will create the need for battery recycling, thereby positively influencing the regional battery recycling market.
An increase in the number of warehouses has been witnessed in the United States in recent years and is expected to continue increasing due to the increasing consumer expenditure rate (in-store and online), business inventories, trade and industrial production.
This surge in the warehouses in the country will fuel the demand for forklifts. This, in turn, is expected to drive the rechargeable batteries market in the US. With the increasing use of batteries, the need for its safe recycling will arise, thereby proliferating the battery recycling market.
Some noteworthy companies in the battery recycling market are Accurec Recycling GmbH, Battery Solutions LLC, Call2Recycle Inc, Recylex SA, The Doe Run Company, UMICORE, Eco-Bat Technologies Ltd and Recupyl.
Key Topics Covered
1. North America Battery Recycling Market - Summary
2. Industry Outlook 2.1. Market Definition 2.2. Key Insights 2.2.1. Lead-Acid Battery to Dominate the Market 2.2.2. Transportation to Dominate Amongst Applications 2.3. Porter's Five Force Analysis 2.4. Market Attractiveness Index 2.5. Vendor Scorecard 2.6. Regulatory Framework 2.7. Industry Components 2.8. Market Drivers 2.8.1. Strict Government Regulations and Increasing Concern on Battery Waste Disposal 2.8.2. Increasing Adoption of Electric Vehicles 2.9. Market Restraints 2.9.1. Advancements in Battery Technologies 2.10. Market Opportunities 2.10.1. High Recycling Gap 2.10.2. Subsidies to Encourage Battery Recycling 2.10.3. Decreasing Lithium-Ion Battery Prices 2.11. Market Challenges 2.11.1. Higher Cost, Lack of Supply Chain and Low Yield in Battery Recycling 2.11.2. Safety Issues Related to the Storage and Transportation of Spent Batteries
3. North America Battery Recycling Market Outlook - by Application 3.1. Transportation 3.2. Consumer Electronics 3.3. Industrial
4. North America Battery Recycling Market Outlook - by Chemistry 4.1. Lithium-Ion 4.2. Lead-Acid 4.3. Nickel 4.4. Others
5. North America Battery Recycling Market - Regional Outlook 5.1. United States 5.2. Canada
6. Competitive Landscape 6.1. Accurec Recycling GmbH 6.2. Aqua Metals Inc. 6.3. Battery Recycling Made Easy 6.4. Battery Solutions LLC 6.5. Call2Recycle Inc. 6.6. Eco-Bat Technologies Ltd. 6.7. Exide Technologies 6.8. Neometals Ltd. 6.9. Raw Materials Company 6.10. Recupyl 6.11. Recylex SA 6.12. The Doe Run Company 6.13. Umicore 6.14. GS Yuasa International Ltd. 6.15. Retriev Technologies