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.
For More Information: www.grandviewresearch.com
