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.
Full Research Report on Global Battery Recycling Market
Analysis:
http://www.grandviewresearch.com/industry-analysis/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.
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/power-generation-and-storage
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
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
View press release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-battery-recycling-market
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