Global Battery Recycling Market - Growth, Trends and Forecasts (2017 - 2022)
Battery Recycling Market
The market valued at USD XX billion in 2016, is projected to reach USD XX billion by 2022, registering a CAGR of XX%, during 2017-2022 (the forecast period). Implementation of stringent environmental regulations, across regions, and the increasing concerns regarding environmental pollution led to the growth of battery recycling market.
Recycling of a battery is beneficial for the earth and future generations. The recycling of battery process involves processing abandoned or used batteries. Recycling helps in reducing the amount of waste, which goes into landfills, decreasing the number of toxic chemicals absorbed into the earth and, in some cases, significantly reduces manufacturing costs and energy consumption. However, at times, the consumers’ misconceptions hinder the success and cost-efficiency of recycling programs, worldwide. With a little consumer education, recycling can be an important and environmentally sound solution to waste management.
The battery recycling market, based on chemistry, is segmented into lead-acid batteries, lithium-based batteries, nickel-based batteries and other. The lead-acid battery chemistry sub-segmented is expected to grow at the fastest pace, as the recycling process for these type of batteries is cost-effective and simple. Lead-acid batteries consume less energy in comparison with other battery chemistries, such as nickel-based or lithium chemistries. The substantial usage of starting, lighting and ignition (SLI) batteries and VRLA batteries has stimulated the market growth.
The automotive industry, largest source segment of the global battery recycling market, is expected to witness the highest growth, during 2017-2022 (the forecast period). The extensive use of automobiles and increasing government regulations, to recycle the batteries, have fueled the global demand for battery recycling.
The battery recycling market in Europe is expected to witness the highest growth, in the coming years. The increasing number of used batteries, from various end-use sources, such as automotive, industrial, and consumer & electronic appliances, is accelerating the growth of the European battery recycling market. The environmental regulations for proper disposal and recycling of batteries in the economies, such as Germany and the United Kingdom, are among the factors expected to drive the European battery recycling market, during 2017-2022 (the forecast period). Leading countries in the Europe battery recycling market are UK, Germany, Russia, Italy and France. Moreover, the increasing demand for recycling of batteries is high in the emerging regions such as Asia-Pacific for automobile batteries.
The Key Players Operational in the Battery Recycling Market Include:
Accurec Recycling GmbH
Aqua Metals, Battery Solutions Inc.
Teck Resources Limited
Key Deliverables in the Study
Market overview - market analysis and identification of key drivers, restraints and opportunities
Major trends and economic outlook
Supply chain analysis
Porter’s five force analysis
Comprehensive summary on the industry sectors and regions poised for the fastest growth
Global battery recycling market analysis, by region
Future outlook of the market
Extensively researched competitive landscape section with profiles of major companies, along with their estimated market shares