The global battery recycling market is expected to reach USD 21.04
billion by 2025, growing at a CAGR of 10.4%, according to a report by Grand
View Research, Inc. The presence of stringent government regulations is expected
to have a positive impact on the market growth over the next eight years.
Transportation
application is expected to witness rapid growth in the battery recycling
market. Growing demand for lithium-ion battery in electric vehicles and
portable devices on account of its high efficiency, long life, and low
maintenance is expected to positively impact the demand for recycled products.
The industry is price
driven, which in turn is expected to restrain the market growth over the
forecast period. Price becomes a key differentiating factor as most recyclers
make use of more or less the same technology. High competition among the
players does not allow large variation in the prices, thereby reducing the
profitability of recycling firms.
Companies are making efforts
to improve the competitiveness by setting up new collection centers and
recycling plants. Moreover, new processes are being developed to bring down
cost & combat environmental pollution. ECOBAT has developed its own
collection system to collect spent batteries.
Access Research Report of Battery
Recycling Market @ http://www.grandviewresearch.com/industry-analysis/battery-recycling-market
Further key findings from the report suggest:
· The lithium-ion segment is expected to
register a CAGR of 11.3% from 2017 to 2025, due to the growing demand from the
electric vehicle industry
· Lead acid segment dominated the market in
2016 and is likely to grow at a predicted CAGR of 10.5% from 2017 to 2025 owing
to its high recycling ability, cost efficiency, and high capacity
· The transportation segment emerged as the
major application in 2016 and is likely to grow at the fastest CAGR of 11.4%
from 2017 to 2025 on account of growing industries such as automotive,
aviation, and marine
· Europe held revenue share of 36.8% in 2016
and is expected witness a CAGR of 9.8% from 2017 to 2025 due to strict
government regulations regarding battery recycling in the region
· The Asia Pacific region is anticipated to
be the fastest-growing market from 2017 to 2025 on account of rapidly growing
end-use industries including automotive, consumer electronics, and industrial
application
· Expansions, mergers & acquisitions, and
agreements are the key strategies adopted by the companies over the past years.
For instance, in August 2016, Aqua Metals opened its AquaRefinery to recycle
lead acid batteries by using nonpolluting electrochemical process.
Grand View Research has
segmented the global battery recycling market on the basis of chemistry,
application, and region:
Chemistry Outlook (Revenue, USD Million; 2014 -
2025)
·
Lithium-ion
·
Lead acid
·
Nickle
·
Others
Application Outlook (Revenue, USD Million; 2014 -
2025)
·
Transportation
·
Consumer electronics
·
Industrial
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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