Lithium-ion Battery Recycling Market to Reach $38.21 Bn, Globally, by 2030 at 36.0% CAGR: Allied Market Research

Environmental pollution through disposal of battery and increase in demand for electrical vehicles/hybrid electric vehicles/plug-in hybrid vehicles (EV/HEV/PHV) drive the growth of the global Lithium-ion battery recycling market.

PORTLAND, Ore., July 19, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Lithium-Ion Battery Recycling Market by Battery chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel-Cobalt-Aluminum Oxide, Lithium-Nickel-Manganese-Cobalt, and Lithium-Titanate Oxide), Source (Electric Vehicles, Electronics, Power Tools, and Others), Recycling Process (Hydrometallurgical Process, Physical/Mechanical Process, and Pyrometallurgy Process), and EndUse (Automotive and Non-Automotive): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global Lithium-ion battery recycling industry was estimated at $1.33 billion in 2020, and is anticipated to hit $38.21 billion by 2030, registering a CAGR of 36.0% from 2021 to 2030.

Drivers, restraints, and opportunities-

Environmental pollution through disposal of battery, increase in demand for electrical vehicles/hybrid electric vehicles/plug-in hybrid vehicles (EV/HEV/PHV), and rise in craze for smartphones, tablets, and other electronic devices fuel the growth of the global lithium-ion battery recycling market. On the other hand, increasing focus on lowering cost of lithium-ion battery rather than its recyclability impedes the growth to some extent. Nevertheless, higher energy efficiency requirements in technologically updated consumer gadgets and high adoption of electric vehicles are anticipated to create lucrative opportunities in the future.

Download Sample PDF (320 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/12048

COVID-19 scenario-  

• The outbreak of COVID-19 led to temporary ban on export & import which gave way to disrupted processing & manufacturing activities across the world. This, in turn, declined the demand for lithium batteries from several industry verticals, thereby affecting the global lithium-ion battery recycling market.
• Nevertheless, the global situation is being ameliorated gradually and the market is expected to recoup soon.

The electronics segment to dominate by 2030-

By source, the electronics segment held more than two-thirds of the lithium-ion battery recycling market revenue in 2020 and is expected to rule the roost by the end of 2030, due to rise in dependence on highly efficient power sources in smartphones, laptops, digital cameras, and other electronics devices. The electric vehicles segment, on the other hand, would cite the fastest CAGR of 45.5% during the forecast period. Adoption of electric vehicles from the automotive consumers and transition of conventional fuel vehicles to electric vehicles/hybrid electric vehicles/battery electric vehicles are expected to fuel the demand for lithium-ion batteries, which in turn is anticipated to rise the demand for battery recycling.

Get detailed COVID-19 impact analysis on the Lithium-ion Battery Recycling Market: https://www.alliedmarketresearch.com/request-for-customization/12048?reqfor=covid

The non-automotive segment to maintain the dominant share-

By end-use, the non-automotive segment garnered the major share in 2020, holding nearly four-fifths of the lithium-ion battery recycling market. Rise in demand for second life application of lithium-ion batteries in consumer electronics devices such as laptops, digital cameras, smartphones, and others fuels the segment growth. However, the automotive segment would garner the fastest CAGR of 41.9% from 2021 to 2030, due to rise in reutilization of second life lithium-ion batteries in electric bikes and other smaller electric vehicles.

Europe, followed by North America, garnered the highest share by 2020-

By region, Europe held the highest share in 2020, garnering more than one-third of the lithium-ion battery recycling market. This is owing to numerous factors such as presence of huge consumer base and existence of key players in the region. Simultaneously, the market across Asia-Pacific would manifest the fastest CAGR of 40.8% from 2021 to 2030, owing to rise in demand for consumer electronics devices in the province.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/12048

Key players in the industry-

• American Battery Technology Company
• Accurec Recycling GmbH
• Duesenfeld GmbH
• Li-Cycle Corp.
• Ganfeng Lithium Co., Ltd.
• Umicore
• Fortum Corporation
• Retriev Technologies, Inc.
• Akkuser Oy
• Lithion Recycling, Inc.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports We Have:   

Lithium-ion battery market is projected to hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.

Battery recycling market is projected to reach $18.3billion by 2026, growing at a CAGR of 10.9% from 2019 to 2026.

Solar battery market is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027.

Forklift battery market is projected to reach $7.4 billion by 2026, growing at a CAGR of 7.04% from 2019 to 2026.

Solid state battery market is projected to reach $1,407.69 million by 2025, growing at a CAGR of 49% from 2018 to 2025.

Energy storage systems market is projected to reach $264.9 billion, growing at a CAGR of 6.4% from 2016 to 2022.

Pre-Book Now with 10% Discount:

Secondary Battery Market Analysis and Industry Forecast, 2020–2027

Battery Analyzer Market Analysis and Industry Forecast, 2021–2030

Utility Battery Market Analysis and Industry Forecast, 2021-2030

Battery Technology Market - Opportunities and Forecasts, 2021-2028

About us:           

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg