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Advances in Recycling Technology on Back of Government Regulations Keep Opportunities in Battery Recycling Market Buoyant, Market to Clock CAGR of ~10% during 2019 - 2027

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Transparency Market Research

04 Nov, 2020, 16:30 GMT

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- Lead acid batteries are at the forefront of recycling technology market and the segment also accounted for the major share in 2018, massive pace of adoption of electric vehicles spur the demand 

- Automotive industry a prominent contributor of spent battery source, mushrooming battery recycling facilities invigorate growth in Asia Pacific

ALBANY, N.Y., Nov. 4, 2020 /PRNewswire/ -- Recycling and disposal of spent batteries are key concern for economies in the light of reducing environmental impact of battery industry as well as the mining of key minerals used in the battery making. They have framed numerous regulations, and stakeholders in the value chain are leaning on complying with those. This has spurred opening of new recycling plants and, more importantly, has fueled constant technological advances in older plants.

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The automotive industry is a prominent generator of demand for battery recycling.

TMR analysts contend that rising use of lithium-ion batteries will consistently generate revenues in the battery recycling market. They further assert that it is imperative that stakeholders and governments should make concerted efforts to raise awareness about the importance of battery recycling and frame policies accordingly.

Asia Pacific and Europe will see rapid growth of recycling plants and spurt in number of e-waste management companies, which will help the battery recycling market to expand at CAGR of ~10% during 2019 – 2027. The forecast valuation by the end of the period is ~US$8 Bn.

Key Findings of Battery Recycling Market Report

  • The global valuation of the battery recycling market was pegged at US$ 3.45 Bn in 2018
  • Of the various types of battery chemistry, lead acid battery accounted for the leading share
  • Based on spent battery source, the automotive industry accounted for the major market share in 2018
  • Of the various end uses, extraction of materials held a promising share in the battery recycling market in 2018
  • Asia Pacific accounted for the leading share in the global battery recycling market
  • The Asia Pacific market is expected to garner at rapid growth rate during 2019 – 2027
  • Europe expected to be a remarkably attractive market

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Battery Recycling Market: Key Driving Factors and Promising Avenues

  • Strides being made by e-waste recycling for disposed electronics is a key driver for massive demand in the battery recycling market. Rise in disposal of consumer electronics from around the world is boosting the growth
  • The battery recycling market has witnessed steady impetus on the back of the rapid pace of commercialization of electric vehicles and electrification of transport. Disposal of lead-acid and secondary batteries is likely to get thrust on the back of this trend.
  • Regulations pertaining to the disposal of waste battery materials by policy makers in several countries are a key underpinning to the expansion of the battery recycling market.
  • Growing investments by battery mineral miners has strengthened the value chain in the battery recycling market.
  • Numerous markets in key lucrative regions are supporting and promoting the battery recycling. To this end, stakeholders are leaning on creating awareness about the environmental benefits of battery recycling.
  • Change in regulations has also stimulated recycling plants to upgrade the existing technologies, thereby unlocking new prospects in the market.
  • Proliferating number of e-waste management companies is boosting the prospects in the battery recycling market.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/9061

Battery Recycling Market: Regional Assessment

Asia Pacific has been a key generator of opportunities to stakeholders in the battery recycling market. The rapidly expanding regional market has witnessed a massive momentum on the back of stringent implementation of environmental regulations pertaining to battery making and disposal. The opportunities in the regional market has also thrived on the back of large number of battery recycling facilities in India, China, and Singapore. These countries are prominent manufacturers as well as consumer of consumer electronics, which has spurred the opportunities. Steady rise in retired lithium-ion batteries has catapulted the need for increasing the battery-recycling rate.

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Key Impediments to Battery Recycling Market Stakeholders

One of the consistent challenges faced by stakeholders in the battery recycling market is the lack of sufficient awareness about the battery recycling infrastructure. Particularly among end users, the awareness is low. A large part of battery recycling is done at industrial and commercial level, without the active participation of other end users. Also, the market in some regions suffers from the widespread adoption of advanced recycling technologies.

Nevertheless, all the stakeholders including policy makers in various countries are expected to ramp up their efforts to boost the battery recycling rate.

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The Battery Recycling Market has been segmented as follows:

Battery Recycling Market, by Battery Chemistry

  • Lithium-ion
  • Lead-acid
  • Nickel-Cadmium
  • Others (Alkaline, NiMH, and Lithium Primary Batteries)

Battery Recycling Market, by Spent Battery Source

  • Automotive
  • Electronic Appliances
  • Others (including Industrial Sources)

Battery Recycling Market, by End Use

  • Extraction of Materials
  • Disposal
  • Repackaging, Reuse, and Second Life

Battery Recycling Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Browse Latest Reports by TMR: https://www.transparencymarketresearch.com/latest.htm

Explore Transparency Market Research's award-winning coverage of the global Energy & Natural Resources Industry,

Liquid Metal Battery Market - Based on metal composition in battery, the liquid metal battery market can be segmented into Mg-Sb battery, Pb-Sb battery, and Na-S battery. Sodium-sulfur (Na-S) batteries are partially molten-metal batteries. They can be used for storing energy for renewable applications, load leveling, or providing backup source. Raw materials required for producing Na-S batteries are relatively inexpensive; they are also abundantly available. However, the lifespan of Na-S battery is short due to degradation caused by the corrosive nature of its active ingredients viz. sodium and sulfur. Furthermore, usage of Na-S batteries has been limited to large-sized applications.

Lawn Mower Battery Market - The global lawn mower battery market is primarily driven by the increase in demand for lawn mowers in residential and commercial sectors for gardening purposes. The need to improve the artistic and esthetic appeal of residential and commercial properties with greener areas is expected to escalate the demand for landscaping gardens and lawns. Rise in government initiatives toward environment sustainability and expansion of municipal gardens is likely to boost the global lawn mower battery market. Natural calamities such as floods, droughts, and heavy snowfalls can adversely impact lawns and gardens. The need to repair and reconstruct such greener areas is also anticipated to boost the demand for electric lawn mowers and ultimately drive the lawn mower battery market.

Marine Powerboat Battery Market - The global marine powerboat battery market was valued at US$ 150 Mn in 2019 and is anticipated to expand at a CAGR of ~8% during the forecast period. Based on battery type, the absorbent glass mat segment held a prominent share of the global marine powerboat battery market in 2019, as absorbent glass mat batteries tend to charge more quickly and hold longer than lead-acid batteries. In terms of power rating, the above 20 V segment accounted for a major share of the global marine powerboat battery market in 2019. Above 20V batteries are largely employed in marine powerboats to power electronic devices. Based on vessel type, the cruiser segment constituted significant share of the global marine powerboat battery market in 2019. The demand for cruiser powerboat is high, as it offers variety of onboard activities and is available in different types of sizes and shapes.

Battery Pack for Marine Hybrid & Full Electric Propulsion Market - The global battery pack for marine hybrid & full electric propulsion market was valued at ~US$ 240 Mn in 2019 and is anticipated to expand at a CAGR of ~9% during the forecast period. Among power ratings, the above 3.5 MW segment held a dominant share of the global battery pack for marine hybrid & full electric propulsion market in 2019, primarily due to high demand from the marine industry. In terms of propulsion type, the hybrid propulsion segment accounted for a major share of the global battery pack for marine hybrid & full electric propulsion market in 2019. This can be ascribed to high adoption of hybrid propulsion systems in retrofit ships. Based on vessel type, the ferries segment constituted a significant share of the global battery pack for marine hybrid & full electric propulsion market in 2019. Demand for hybrid and full electric ferries is high, as they reduce the pollution near port areas and save operational costs.

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Transparency Market Research
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