$15.4 Billion Worldwide Battery Recycling Industry to 2031 - Increasing Adoption of Electric Vehicles is Expected to Drive Growth

Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The "Battery Recycling Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists; marketers and senior management with the critical information they need to assess the global battery recycling market.

This report focuses on battery recycling market which is experiencing strong growth. The report gives a guide to the battery recycling market which will be shaping and changing our lives over the next ten years and beyond; including the markets response to the challenge of the global pandemic.

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Major players in the battery recycling market are Li-Cycle, Battery Solutions, LLC, Exide Technologies, Umicore, Aqua Metals, Inc, Gravita India Limited, Exide Industries Ltd, ECOBAT Logistics, East Penn Manufacturing Company, and ENERSYS.

The global battery recycling market is expected to grow from $13.54 billion in 2021 to $15.44 billion in 2022 at a compound annual growth rate (CAGR) of 14.1%. The market is expected to grow to $25.9 billion in 2026 at a CAGR of 13.8%.

The battery recycling market consists of sales of recycled batteries by entities (organizations, sole traders and partnerships) and related services. Battery recycling is the method of reusing and reprocessing batteries to reduce the number of batteries being disposed of as waste.

The main types of battery recycling are lead-acid battery, nickel-based battery, lithium-based battery, and other battery types. Nickel-based batteries are rechargeable batteries that are used in a wide variety of applications including portable electronic devices, electric and hybrid vehicles, aeronautics and aerospace and stationary energy storage among others. The processing state is the extraction of material, reuse, repackaging and second life, and disposal. The various applications included automotive, consumer electronics, industrial, and other applications.

North America was the largest region in the battery recycling market in 2021. The regions covered in the battery recycling report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing adoption of electric vehicles is expected to drive the growth of the battery recycling market in the forecast period. Electric vehicles (EVs) are automobiles that are completely or partially powered by electricity. Disposing of an electric vehicle battery is expensive, particularly if the waste contains valuable materials.

Recycling is an opportunity to minimize life cycle costs by recovering high-value materials and avoiding the expense of hazardous waste disposal. With the growth in EV sales, the number of lithium-ion batteries in the market has increased. The limited life of these batteries requires an effective recycling medium to stabilize domestic sources of materials for battery production, reduce the demand for raw materials and minimize geopolitical disruptions of the supply chain.

After a period of 5-8 years, the power generated by these batteries is not enough for the EV, but it can be used in other low-grade applications such as in households, energy backups, renewable energy storage and off-peak energy storage. Recycling EV batteries also helps recover metals - cobalt, lithium, nickel, and others, which can then be used for manufacturing new batteries, saving resources and cost of production. According to International Energy Agency, global electric vehicle sales are projected to reach 125 million by 2030. Therefore, the increasing adoption of electric vehicles propels the growth of the battery recycling market.

Major companies operating in the battery recycling market are entering into strategic collaborations to improve know-how and enhance battery recycling efficiency. For instance, in 2021, UK based sustainable technologies company, Johnson Matthey partnered with Sweden based leading recycler of industrial waste and end of life products, Stena Recycling Group, to develop an efficient value chain for the recycling of lithium-ion batteries and cell manufacturing materials in Europe.

The countries covered in the battery recycling market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Key Topics Covered:

1. Executive Summary

2. Battery Recycling Market Characteristics

3. Battery Recycling Market Trends And Strategies

4. Impact Of COVID-19 On Battery Recycling

5. Battery Recycling Market Size And Growth
5.1. Global Battery Recycling Historic Market; 2016-2021; $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Battery Recycling Forecast Market; 2021-2026F; 2031F; $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Battery Recycling Market Segmentation
6.1. Global Battery Recycling Market; Segmentation By Type ; Historic and Forecast; 2016-2021; 2021-2026F; 2031F; $ Billion

• Lead-Acid Battery
• Nickel-Based Battery
• Lithium-Based Battery
• Other Battery Types

6.2. Global Battery Recycling Market; Segmentation By Processing State; Historic and Forecast; 2016-2021; 2021-2026F; 2031F; $ Billion

• Extraction Of Material
• Reuse; Repackaging And Second Life
• Disposal

6.3. Global Battery Recycling Market; Segmentation By Application; Historic and Forecast; 2016-2021; 2021-2026F; 2031F; $ Billion

• Automotive
• Consumer Electronics
• Industrial
• Other Applications

7. Battery Recycling Market Regional And Country Analysis
7.1. Global Battery Recycling Market; Split By Region; Historic and Forecast; 2016-2021; 2021-2026F; 2031F; $ Billion
7.2. Global Battery Recycling Market; Split By Country; Historic and Forecast; 2016-2021; 2021-2026F; 2031F; $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/ujd6o2

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