The battery recycling market is projected to grow from USD 17.2 billion in 2020 to USD 23.2 billion by 2025, at a CAGR of 6.1% from 2020 to 2025
NEW YORK, May 13, 2020 /PRNewswire/ -- The battery recycling market is projected to grow at a CAGR of 6.1% from 2020 to 2025, in terms of value.
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The battery recycling market is projected to grow from USD 17.2 billion in 2020 to USD 23.2 billion by 2025, at a CAGR of 6.1% from 2020 to 2025. This market's growth is driven by rising concerns regarding depleting precious and rare earth metals, growing demand for recycled batteries and other materials, and stringent government regulations and EPA (Environmental Protection Agency) guidelines.
The lead-acid segment is estimated to lead the battery recycling market in terms of value from 2020 to 2025.
By chemistry, the lead-acid segment accounted for the largest share of the battery recycling market in 2019.Lead-acid is the most commonly used battery chemistry in a multitude of applications, such as back-up for uninterruptible power supplies and grid energy storage, in battery-powered electric vehicles, and for SLI (starting, lighting, and ignition) in conventional combustion engines.
The segment's growth is also attributed mainly to the simpler, cost-effective, and energy-efficient recycling of lead-acid batteries in comparison to others, such as lithium-based and nickel-based chemistries.
Automotive batteries accounted for the largest share of the battery recycling market, by source.
By source, the automotive batteries segment accounted for the largest share of the battery recycling market in 2019.This large share is mainly attributed to the rising use of automobiles and the growing number of government regulations related to battery recycling.
Moreover, the demand for automobile batteries is particularly high in emerging regions, such as Asia Pacific, thereby augmenting the growth of the automotive batteries segment.
Asia Pacific is projected to lead the battery recycling market during the forecast period, in terms of value.
The Asia Pacific region is projected to lead the battery recycling market from 2020 to 2025 in terms of value. The growing demand for electric vehicles and increasing environmental regulations are responsible for the growth of the Asia Pacific battery recycling market.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
• By Designation: C-level Executives – 24%, Directors – 36%, and Others – 40%
• By Region: North America – 20%, Europe – 30%, Asia Pacific – 40%, South America – 3%, Middle East & Africa – 7%,
As a part of qualitative analysis, the research provides a comprehensive review of market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by varied market players, such as Call2Recycle, Inc. (US), Battery Solutions, LLC (US), Exide Technologies (US), Umicore (Belgium), Exide Industries Ltd. (India), Contemporary Amperex Technology Co. Ltd. (CATL) (China), GEM Co., Ltd. (China), EnerSys (US), Johnson Controls International plc (US), Aqua Metals, Inc. (US), Retriev Technologies Inc. (US), Gravita India Limited (India), ECOBAT Logistics (UK), Fortum Oyj (Finland), Teck Resources Limited (Canada), American Manganese Inc. (Canada), Glencore International AG (Switzerland), TES-AMM Singapore Pte Ltd (Singapore), RSR Corporation (US), COM2 Recycling Solutions (US), East Penn Manufacturing Company, Inc. (US), The Doe Run Company (US), Raw Materials Company Inc. (RMC) (Canada), Neometals Ltd (Australia), Terrapure Environmental (Canada), and Gopher Resource LLC (US).
Research Coverage:
The report defines, segments, and projects the battery recycling market based on chemistry, source, processing state, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges.
It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, agreements, partnerships, and acquisitions undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the battery recycling market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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