Battery Recycling Market Revenue to Cross $36 Billion by

New York , Jan. 11, 2023 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Battery Recycling Market Share, Industry Trends and Forecast to 2028- Global Analysis by Type (Lead Acid Battery, Lithium-Based Battery, Nickel-Based Battery, and Others) and Battery Source (Automotive, Industrial, Household, Consumer Electronics, and Forklift),” the market is expected to grow from USD 15.81 billion in 2022 to USD 36 billion by 2028; it is estimated to grow at a CAGR of 13.4% from 2022 to 2028. The market growth is attributed to the rapid adoption of recycled products due to favorable government regulations.

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Global Battery Recycling Market Report Scope, Segmentations, Regional & Country Scope:

Market Size Value in USD 15.81 billion in 2022
Market Size Value by USD 36 Billion by 2028
Growth rate CAGR of 13.4% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2022
No. of Pages 141
Historical data available Yes
Segments covered Type, and Battery Source
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key Research Capabilities Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
Global Battery Recycling Market Forecast to 2028 – Latest COVID-19 Analysis    

Growing Demand for Recycled Products and Recovery of Valuable Metals Bolsters Global Battery Recycling Market Growth:

Battery recycling is an effective way of reprocessing and reusing batteries to reduce wastage. Recycling batteries is one of the important concepts, as materials recovered from recycling have a lower environmental impact than virgin materials sourced from mining. Moreover, it prevents the potential threat surfacing from dumping heavy metals and toxic chemicals into the environment. Direct recycling can substantially lower energy consumption, along with reducing emissions. Battery recycling is an effective way of reprocessing and reusing batteries to reduce wastage. Recycling batteries is one of the important concepts, as materials recovered from recycling have a lower environmental impact than virgin materials sourced from mining. Moreover, it prevents the potential threat surfacing from dumping heavy metals and toxic chemicals into the environment. Direct recycling can substantially lower energy consumption, along with reducing emissions.  

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Global Battery Recycling Market: Competition Landscape

Key players operating in the global battery recycling market include Clarios, LLC; East Penn Manufacturing Company; Exide Industries Limited; Contemporary Amperex Technology Co., Limited; Com2 Recycling Solutions; Gopher Resource; Terrapure Environmental; GP Batteries International Limited; Retriev Technologies Inc.; and Aqua Metals, Inc. These market players focus on providing high-quality products to fulfill customer demands. They also focusing on strategies such as investments in research and development activities and new product launches.

Global Battery Recycling Market: Segmental Overview

Based on type, the battery recycling market is segmented into lead acid battery, lithium-based battery, nickel-based battery, and others. The lead acid battery segment is expected to hold the largest share of the market in 2022. A lead acid battery is a type of rechargeable battery that has the lowest energy density. It can supply high surge currents, which indicates that the cells have a large power-to-weight ratio. The lower costs of lead acid batteries than lithium-based batteries and nickel-based batteries make them an ideal choice for use in motor vehicles to provide the high current required by starter motors.

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Based on battery source, the battery recycling market is segmented into automotive, industrial, household, consumer electronics, and forklift. The consumer electronics segment held the largest market share in 2022. Consumer batteries are mostly used for powering small portable electronic devices such as laptops, cell phones, remote control, power tools, and video game systems that require cordless energy supply. Different batteries available for consumer electronics’ applications include alkaline, nickel–cadmium, nickel–metal hydride, lead acid, lithium-ion, and primary lithium, while each of them has various applications. Batteries used in consumer electronics have their own unique properties, which require peculiar safety measures and recycling processes.

Asia Pacific is projected to hold the largest share of the battery recycling market in 2022. The market in Asia Pacific is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The consumption of lithium-ion batteries has surged notably in this region with the proliferation of the automotive sector and the increased adoption of electric vehicles in the region. Various government policies are supporting the development of the electric vehicle industry in Asia Pacific. Increased use of batteries in the region would trigger the need for effective battery management practices to reduce waste generation, with an emphasis on battery recycling.

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Key Developments

  • In 2022, Li-Cycle, a Canadian lithium-ion battery recycler, opened a battery recycling facility in Tuscaloosa, Alabama.
  • In 2022, Heritage Battery Recycling, an affiliate of Cirba Solutions, announced plans to construct a lithium-ion battery recycling facility in Eloy, Arizona.
  • In 2021, The Heritage Group, an Indianapolis-based firm announced the merger of Heritage Battery Recycling, its battery management and recycling business, with Retriev Technologies, a lithium-ion battery processor based in Anaheim, California.

Browse Adjoining Reports:

Battery Technology Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Battery Type (Lead Acid Battery, Lithium-Ion Battery, Lithium-Metal Battery, Nickel Cadmium Battery, Nickel Metal Battery, Others); Power System (Alkaline fuel cells, Fuel cell batteries, Flywheel energy storage, Proton exchange membrane fuel cells, Phosphoric acid fuel cells, Solid oxide fuel cells, Molten carbonate fuel cells, Nuclear batteries); Application (Automotive Battery Control, Marine and Aviation Battery Control, Portable Product Battery Control, Stationary Battery Control, Electric Vehicle Battery Control) and Geography

Lithium-Ion Battery Recycling Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Technology (Lithium-Nickel Manganese Cobalt, Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanate Oxide, and Lithium-Nickel Cobalt Aluminum Oxide) and Application (Automotive, Mining, Consumer Electronics, Industrial, and Power)

Battery Raw Materials Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Li-Ion Battery Material (Cathode, Anode, Separator); Lead Acid Battery Material (Electrodes, Electrolyte, Separator, Packaging); Li-Ion Battery Application (Consumer, Electronics, Automotive, Grid Storage, Others); Lead Acid Battery Application (Automotive, UPS, Telecom, Others) and Geography

Industrial Battery Market to 2027 – Global Analysis and Forecasts by Type (Lead-acid Batteries, Lithium-based Batteries, Nickel-based Batteries, Others); Application (Telecom & Data Communication, Industrial Equipment, Uninterruptible Power Supply (Ups)/Backup, Mining, Marine, Others)

E-scrap Recycling Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (IT & Telecom Equipment, Small Household Appliances, Large White Goods, Consumer Electronics, and Others), Processed Material Type (Metal, Glass, Plastic, and Others) and Geography

Battery Additives Market Forecast to 2028 – Covid-19 Impact and Global Analysis – By Type (Conductive Additive, Porous Additive, Nucleating Additive, Others); Applications (Lead Acid, Li-Ion, Others) and Geography

Automotive Waste Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Recyclable, Non-recyclable); Product (Part washers and brake cleaners, Batteries, Aerosol Cans, Tyre recycling, Fuel filters) and Geography

Smart Waste Management Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Solution and Application

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Releasehttps://www.theinsightpartners.com/pr/battery-recycling-market
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