BATTERY RECYCLING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The battery recycling market is estimated to be valued at USD 24.22 Bn in 2024 and is expected to reach USD 42.44 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.34% from 2024 to 2031. Battery recycling is a process where end-of-life or defective batteries are processed to extract materials that can be reused in the production of new batteries. With the rising demand for batteries from consumer electronics and electric vehicles, battery waste is growing at an alarming rate. Improper disposal of batteries can have adverse effects on the environment as they contain toxic heavy metals like lead, cadmium, and mercury. Battery recycling helps recover these valuable materials and ensures safe disposal of hazardous components. Recycling 1 ton of lead-acid batteries can save over 2,500 pounds of iron ore extraction, 1,200 pounds of sulfur, and 600 pounds of lead bullion. Battery recycling is becoming increasingly important to ensure sustainability in the battery supply chain and address environmental concerns related to battery waste.
Market Dynamics
The global battery recycling market growth is driven by several factors such as growing environmental concerns about improper battery disposal, stringent government regulations regarding e-waste management, and availability of rebates and incentives for recycling. However, factors such as collection and transportation challenges of recycled batteries and lack of consumer awareness are restraining the market growth. The market provides opportunities for players in the development of recycling technologies to recover higher quality materials from diverse battery chemistries. Recycling of lithium-ion batteries from electric vehicles is also expected to open new avenues for players in the coming years. Challenges around setting up universal recycling standards pose a threat to the seamless operations of battery recycling supply chain on a global level.
Key Features of the Study
- This report provides in-depth analysis of the global battery recycling market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global battery recycling market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Call2Recycle, Exide Technologies, Gravita India Ltd., Glencore, Cirba Solutions, American Battery Technology Company, Gopher Resource, East Penn Manufacturing Co., and Aqua Metals
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global battery recycling market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global battery recycling market
Market Segmentation
Market Segmentation
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