Global Battery Recycling Market – Industry Trends and Forecast to 2024
The Global Battery Recycling Market accounted for USD 8.23 billion in 2016 and is projected to grow at a CAGR of 6.7% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Battery Recycling Market
Battery recycling is a process that aims at diminishing the number of batteries being disposed of as municipal solid waste. Batteries consist of several heavy metals and toxic chemicals. Therefore, disposing them off as regular trash has raised concerns about water pollution and soil contamination. There is a growing demand for battery recycling in extraction of material, repackaging, reuse, and second life and disposal activities which is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Stringent government regulations for battery disposal
- Depletion of earth metals
- High demand for recycled products and materials
- Safety Issues related to storage and transportation of old batteries
Market Segmentation: Global Battery Recycling Market
The battery recycling market is segmented on the basis of chemistry into lead acid, lithium-based and nickel-based.
On the basis of source, the market is segmented into automotive, industrial, consumer & electronic appliance.
On the basis of end-use, the market is segmented into extraction of material, repackaging, reuse, and second life and disposal.
On the basis of geography, the battery recycling market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Battery Recycling Market
The global battery recycling market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Battery Recycling Market
Some of the major players in battery recycling market include Call2recycle, Aqua Metals, Umicore, Exide Technologies, Johnson Controls, Enersys, Gravita India Limited, Teck Resources Limited, Battery Solutions, Inc., Gopher Resource, G&P Batteries, Terrapure Environmental, East Penn Manufacturing Co., Retriev Technologies Inc, COM2 Recycling Solutions, RSR Corporation, The Doe Run Company, Raw Materials Company, World Logistics Inc, Guangdong Brunp Recycling Technology Co., Ltd, Metalex Products Limited, Accurec Recycling GmbH, Tonolli Canada Ltd, Kinbursky Brothers Inc., Recupyl S.A.S, Vinton Batteries and many more.