Vancouver, BC -- (SBWIRE) -- 01/19/2021 -- Battery Recycling Market

The driving forces that have driven the growth of the global battery recycling market are the growing use of batteries in mobile phones and laptops and the automotive industry. Owing to increased electric vehicle adoption and deployment of energy storage systems, the market for batteries has increased. Nevertheless, some of the factors that have a positive effect on the battery recycling market are the growing trend of battery material extraction and repacking & second life for the battery.

The market for lithium-ion battery recycling is influenced by the rising demand for electric as well as hybrid electric vehicles where lithium-ion batteries are used extensively. Adoption of these vehicles results in a price hike of battery materials such as cobalt and lithium, hence making the recycling of lithium-ion battery industries more profitable.

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Battery Recycling Market Drivers

Growing from USD 16.19 billion in 2019 to USD 24.57 billion in 2027, the global battery recycling market is expected to rise at a 5.3% CAGR. As raw materials, such as lithium, nickel, cobalt, and manganese, used in the manufacture of cathode batteries are small, the battery recycling market is experiencing rapid growth in demand.

In comparison, these products, including automotive & transport, consumer electronics, and numerous other industries, are experiencing a growing demand from the end-user verticals. In addition, raw materials used in the making of batteries are hazardous to the environment. The recycling and reuse of components in used batteries further leads to the conservation of natural resources and thus boosts the development of the demand for recycled battery materials.

Type Outlook (Revenue, USD Billion; 2017-2027)
Lithium-Based
Nickel-Based
Lead-Acid
Others

Battery Recycling Outlook (Revenue, USD Billion; 2017-2027)
Extraction of Materials
Reuse, Repackaging, & Second Life
Disposal

Application Outlook (Revenue, USD Billion; 2017-2027)
Automotive & Transportation
Consumer Electronics
Industrial

The market in the North America held the second-largest market share in 2019 and is estimated to grow at a rate of 4.8% in the forecast period. The high demand in the region is due to the growing adoption of electric vehicles, especially in the US. The environmental concern among the governments about the health hazards of the lithium-ion battery is considerably propelling the battery recycling market.

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 Battery Recycling Market: Regional Outlook

The Asia Pacific market led to the largest market share in 2019 and is projected to rise in the forecast period at the CAGR of 6.0%. The high demand in the Asia Pacific region, led by China, Japan, India, and other countries, is due to the growth of the electric vehicle and energy storage sectors. China and India are one of the fastest-growing economies in the world. Owing to the rising population and the need for industrial applications, the demand for lithium-ion batteries is high in the Asia Pacific region.

Table of Content

Chapter 1. Methodoogy & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Battery Recycling Market Segmentation & Impact Analysis

    4.1. Battery Recycling Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Surging demand for recycled products

                    4.2.2.2. Growing demand for energy storage

                    4.2.2.3. Growth of the automotive industry

                    4.2.2.4. Strict regulatory norms

                    4.2.2.5. Concern pertaining to depletion of rare elements

          4.2.3. Market restraints analysis

                    4.2.3.1. Concerns associated with disposal of batteries

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter's Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Battery Recycling Market By Type Insights & Trends, Revenue (USD Million)

    5.1. Type Dynamics & Market Share, 2019 & 2027

          5.1.1. Lithium-Based

          5.1.2. Nickel-Based

          5.1.3. Lead-Acid

          5.1.4. Others

Chapter 6. Battery Recycling Market By Processing State Insights & Trends Revenue (USD Million)

    6.1. Processing State Dynamics & Market Share, 2019 & 2027

          6.1.1. Extraction of Materials

          6.1.2. Reuse, Repackaging, & Second Life

          6.1.3. Disposal

Chapter 7. Battery Recycling Market By Application Insights & Trends Revenue (USD Million)

    7.1. Application Dynamics & Market Share, 2019 & 2027

          7.1.1. Automotive & Transportation

          7.1.2. Consumer Electronics

          7.1.3. Industrial

To Be Continued…!

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