Global Battery Recycling Market is valued at USD 17.6 Billion in 2020 and is expected to reach USD 27.89 Billion by 2027 with a CAGR of 6.8% over the forecast period.
Global Battery Recycling Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2021-2028- Increasing adoption of electric vehicles, rising demand for recycled products, and growing environmental awareness are some of the major factors driving the growth of the Global Battery Recycling Market.
Battery Recycling Companies
Some major key players for the global battery recycling market report cover prominent players like
- Exide Technologies
- Exide Industries Ltd.
- Contemporary Amperex Technology Co. Ltd.
- GEM Co., Ltd.
- Aqua Metals, Inc.
- Retriev Technologies Inc.
- Battery Solutions, LLC
- Call2Recycle, Inc.
- Johnson Controls International plc
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Scope of Global Battery Recycling Market Report-
Battery recycling is an effective way to recycle and reuse batteries to reduce hazardous waste. Battery recycling is a reusing movement that aims to decrease the number of batteries being disposed of as municipal solid waste. Batteries contain various heavy metals and harmful chemicals and discarding them by a similar process as normal household waste has risen worries over soil contamination and water contamination. Recycling has less of an environmental impact than mining virgin materials. Direct recycling can reduce energy consumption and emissions. Numerous urban communities offer battery recycling services for lead-acid batteries. In certain locales, including U.S. and Canadian regions, a refundable deposit is paid on batteries. This encourages the reusing of old batteries rather than the abandonment or disposal of household waste. Organizations that sell new vehicle batteries may likewise gather used batteries for recycling.
The Covid-19 pandemic has shown a negative impact on the growth of the global battery recycling market. The outbreak of the Covid-19 led to a temporary ban on import, export, manufacturing & processing activities in various industries which reduced the demand for various automotive & non-automotive batteries. Due to pandemics, problems such as labor shortages, unavailability of raw materials, instability in world trade, and subsequent market ecosystem delays in product establishment have proved to be significant barriers to industry adaptation. Delayed projects push up prices which further hinders the market growth.
Global Battery Recycling Market Segmentation:-
The global battery recycling market is segmented on the basis of the chemistry, battery source, end-user, and region & country level. On the basis of chemistry, the global battery recycling market is segmented into lead-acid, lithium-ion, nickel-cadmium, and others. By battery source, the global market is segmented into electronic appliances, automotive, and others. By end-user, the market is segmented into the extraction of materials, repackaging, disposal, reuse, and second life.
By Battery Source:
- Electronic Appliances
- Extraction of Materials
- Second Life
News- Mercedes-Benz to Build its Own Battery Recycling Plant in Southern Germany
On March 11th, 2022; Mercedes-Benz started to fabricate its own battery recycling plant in Germany. Along with technology partner Primobius and an eminent research institute, the pilot project is planned to begin in 2023. Mercedes-Benz is investing a double-digit million euro sum in research and development, as well as in the development of the CO2- neutral pilot plant at the Mercedes-Benz area in Kuppenheim in southern Germany. The pilot plant is supposed to have a yearly limit of 2,500 tons. The recovered materials will be fed back into the recycling circle to create in excess of 50,000 battery modules for new Mercedes-EQ models.
Ford, Volvo Join Redwood Materials Has Launched the Free EV Battery Recycling Program in California
On February 17th, 2022; the startup, founded by Redwood Materials, former Tesla CTO JB Strobel, launched an EV battery recycling program in California with opening partners Ford& Volvo as pressure mounts on source material for the electric vehicle.
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