Industry Background:
The global battery recycling market is expected to rise during the forecasted period due to the huge consumption of automobiles across the developing countries and also the increased awareness about the effects of battery waste on the environment. Battery recycling basically involves the dismantling of all the battery components which is actually a complex process, the steps involved in the process are waste preparation and metallurgical processing. However, the setting up of battery recycling requires huge investment.
According to AMA Research, the market for Battery Recycling is expected to register a CAGR of 15.0% during the forecast period to 2030. This growth is primarily driven by Increasing Consumption of Automotive Across the Developing Countries
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Fortum (Finland), Redux GmbH (Germany), Umicore N.V. (Belgium), Johnson Controls (Ireland), Exide Technologies (United States), G&P Batteries (United Kingdom), Doe Run Resources Corporation, (United States), East Penn Manufacturing (United States), EnerSys (United States), Retriev Technologies (United States), Gopher Resource LLC (United States) and RSR Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2024, Volkswagen partners with Ecobat for EV battery recycling. This sees the company collect EV batteries from all around the UK and once on-site, batteries are analysed for state of health and discharged prior to re-engineering or recycling abroad.
In March 2024, 24M Technologies (24M) has unveiled Liforever a direct material recycling process for semi-solid lithium-ion batteries for electric vehicles and energy storage system batteries. The latest innovation is unique to the 24M semi-solid battery manufacturing platform and is said to reduce the environmental impact of lithium-ion batteries by enabling efficient and cost-effective recovery and reuse of battery materials,The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Regulatory Insights:
"According to the European Union, Directive, Member States must transpose the Directive into national law so that end-users may discard spent batteries and accumulators at local collection points for no charge. Producers of batteries and accumulators must be registered and bear the costs of collecting, treating, and recycling industrial, automotive, and portable batteries and accumulators, as well as the costs of campaigns to inform the public of these arrangements. Small producers may be exempt from this obligation. Product markings are required for batteries and accumulators to provide information on capacity and to facilitate reuse and safe disposal. Member States also must take action to ensure that manufacturers design appliances so that batteries and accumulators may be removed readily and safely."
Influencing Trend:
Massive Generation of Battery Waste from Electic Products and Increase in Lead Acid Battery Recycling
Market Growth Drivers:
Increasing Consumption of Automotive Across the Developing Countries and Growing Awareness about the Adverse Impact of Waste Battery on Environment
Challenges:
Complications Involved in Battery Recycling
Restraints:
Huge Investment Cost is Involved in Setting up of the Battery Recycling Industry
Opportunities:
The Electric Vehicle Production will Boos the Battery Recycling Market and Surging Demand for More Battery Operated Products will Lead to Battery Recycling
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Battery Recycling Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Battery Recycling Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Battery Recycling players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Battery Recycling Study Sheds Light on
The Battery Recycling Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Battery Recycling industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Battery Recycling industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.