Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the battery recycling market provides an in-depth analysis
of segments and sub-segments in the global as well as regional battery
recycling market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional battery recycling market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of the global battery recycling market.
According to the report, the global battery recycling market is projected to
grow at a CAGR of 8.6% over the forecast period of 2021-2027.
Batteries contain a number of toxic
chemicals and disposing of them through trash has raised concerns of over soil
contamination and water pollution. Hence, the battery recycling activity aims
to reduce the number of batteries being disposed of as municipal waste. Most of
the batteries that can be recycled are as follows lead-acid automotive battery,
button cells, alkaline and rechargeable batteries such as nickel cadmium,
lithium-ion, and nickel zinc. Moreover, almost all household batteries, battery
packs from mobile phones, power tools, laptops, & remote control units,
and car batteries can be recycled. Battery recycling prevents the degradation
of the environment and health hazards caused by the disposed of batteries. As a
result, sorting of batteries based on their chemical composition becomes an
important feature of the battery recycling market.
Numerous non-profit and government
organizations have taken steps to increase the awareness about harmful effects
of disposal of the battery and they have collaborated with several automotive
companies . Therefore the increase in environmental concerns is projected to
fuel the growth of the battery recycling market. However, low awareness about
battery recycling is likely to restrain the growth of the battery recycling
market during the forecast period. On the other hand, disposal of these
batteries in garbage dumps also hampers the recycling process due to the
difficulty faced in sorting these batteries. This causes pollution in the
environment along with various other hazards. Furthermore, the automotive
sector has emerged as the leading application of batteries due to the use of
lead acid batteries in vehicles. This in turn is expected to create huge growth
opportunities for the key players in the global battery recycling market. The growing Number of Hybrid and EV Batteries are also creating lucrative growth
opportunities for the growth of the battery recycling market over the upcoming
years.
Among the geographies, Europe
dominated the battery recycling market owing to stringent governmental laws
such as battery directives. According to the European Commission, this
directive contributes to the protection, preservation, and improvement of the
quality of the environment. However, the market in the Asia Pacific is projected to
expand at a significant pace owing to the increase in the demand for batteries
in developing countries such as India and China. On the other hand, the
recycling rate of used lead acid batteries is more in the North American
regions. More than 20 states in the United States have state recycling
requirements in effect and around eight states have authorized battery
producers to offer battery recycling.
The report on the global battery
recycling market covers segments such as battery type, and application. On the
basis of battery type, the sub-markets include lead-acid battery, nickel-based
battery, and lithium-based battery type. On the basis of application, the
sub-markets include transportation, industrial, and consumer electronics.
The report provides profiles of
the companies in the market such as Call2Recycle, Inc., Panasonic Corporation,
Umicore, Battery Solutions, Inc, Retriev Technologies, G&P Batteries,
ENERSYS, Johnson Controls, and Gravita India Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the battery recycling market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.