Global Secondary Battery Recycling Market 2019-2023
About Secondary Battery Recycling
Battery recycling is a process that helps reduce the number of batteries being disposed as municipal solid waste. Secondary batteries should be disposed properly, as they comprise several heavy metals and toxic chemicals.
Technavio’s analysts forecast the global secondary battery recycling market to grow at a CAGR of 7.65% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global secondary battery recycling market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of secondary battery recycling in different battery type
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Secondary Battery Recycling Market 2019-2023
Technavio recognizes the following companies as the key players in the global secondary battery recycling market: Battery Solutions, Call2Recycle, Exide Technologies, Gravita India, Johnson Controls.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising stewardship collaboration for battery recycling. The stewardship collaborations will increase awareness about the need for recycling both primary and secondary batteries, thereby driving the market.”
According to the report, one of the major drivers for this market is the self- sustainability of battery raw materials. The countries like Europe, are meeting large number of their secondary metal demands through recycling the used- batteries. It has been achieved by setting multiple regulations and policies by the member nations of the EU. Therefore, to attain self- sustainability, the recycling of used- batteries remains necessary.
Further, the report states that one of the major factors hindering the growth of this market is the logistical issues associated with battery recycling. The recovered metals and other minerals from the recycled batteries do not yield high- profit margins. Logistical issues associated with battery recycling affect the growth of the global secondary battery recycling market.
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