NEW YORK, Nov. 14, 2023 /PRNewswire/ — The battery recycling market size is expected to grow by USD 9.20 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.46% during the forecast period. APAC is estimated to account for 36% of the global market during the forecast period. The APAC region holds a dominant position in the global battery recycling market, primarily attributed to the presence of numerous major battery manufacturers and manufacturing facilities for battery-powered equipment and automobiles within the region. Furthermore, the increasing use of consumer electronics and vehicles is propelled by growing household incomes and elevated living standards across APAC. Escalating environmental concerns arising from improper battery disposal practices is a significant driver of growth in the regional battery recycling market. Given the substantial consumption of batteries in sectors such as consumer electronics, automotive, and energy storage, recycling batteries has evolved into an imperative. Additionally, many countries are actively addressing these concerns and striving to combat the pollution stemming from inadequate battery disposal methods. To find a preview of the market overviews, market drivers, opportunities, and potentials request Free sample report
Battery Recycling Market 2023-2027: Company Analysis
The battery recycling market is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified vendors. The global off-grid battery recycling market is expected to grow rapidly during the forecast period due to the Widening lithium supply-demand gap. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market’s competitive landscape and offers information on several market companies. Accurec Recycling GmbH, Aqua Metals Inc., Battery Solutions LLC, Call2Recycle Inc., Contemporary Amperex Technology Co. Ltd., Ecobat LLC, EnerSys, ENGITEC TECHNOLOGIES SPA, Exide Industries Ltd., GEM Co. Ltd., Gopher Resource LLC, Gravita India Ltd., SungEel Hi-Tech Co. Ltd., Terrapure Environmental, Umicore SA, East Penn Manufacturing Co. Inc., Fortum Oyj, Li Cycle Holdings Corp., Onto Technology LLC, and Raw Materials Co. Inc.
Major Companies and Key Offerings:
- Accurec Recycling GmbH – The company offers battery recycling services for Nickel Cadmium batteries, Nickel Metal hybrid batteries and Lithium batteries
- Aqua Metals Inc. – The company offers battery recycling services for Lithium-ion batteries through its AquaRefining methodology, which is the cleanest and most cost-efficient lithium-ion recycling solution.
Battery Recycling Market 2023-2027: Segmentation Analysis
- The automotive segment is estimated to witness significant growth during the forecast period. In the automotive segment, lead-acid batteries find application in passenger cars, commercial vehicles, and two-wheelers, serving crucial roles in start, light, and ignition (SLI) systems for internal combustion engine (ICE) vehicles, as well as in start/stop applications for both traditional vehicles and EVs. The automotive industry’s need for lead-acid batteries remains substantial. This demand is fueled by factors such as an improving economic climate, evolving consumer lifestyles characterized by increased confidence, and a growing preference for new, technologically advanced, and fuel-efficient vehicles. The consistent expansion of the economy, industrialization, infrastructure development, and higher disposable incomes collectively contribute to the rising demand for motor vehicles.
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Imperative Insights on the following aspects:
- What was the size of the global battery recycling market by value?
- What will be the size of the global battery recycling market in 2027?
- How has the industry performed over the last 5 years?
- What factors are affecting the strength of competition in the global battery recycling market?
- What main segments make up the global battery recycling market?
The Electric Vehicle Battery Recycling Market size is estimated to grow at a CAGR of 38.68% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,862.56 million.
The flow battery market size is estimated to grow at a CAGR of 22.16% between 2022 and 2027. The market size is forecast to increase by USD 510.03 million.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Source
Market Segmentation by Battery Type
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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