Battery Recycling Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024
Global Battery Recycling Market: Overview
Battery recycling is an activity of recycling that plans to lower the number of batteries being marshaled as solid municipal waste. Batteries have a lot of toxic chemicals and heavy metals and disposing of them by the similar procedure as ordinary trash has lifted worries over water pollution and soil contamination. This has in return powered the global battery recycling market.
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Global Battery Recycling Market: Growth Factors
Strict government rules and the increasing end-user segments comprising consumer electronics, transportation, and applications in the industries are anticipated to elevate the demand of the global battery recycling market.
The raw materials for the production of the new battery are in less number as compared to the planned demand from different end-use segments. Battery recycling is essential not only for the revival of valuable metals and materials but also for well-organized management of waste in an attempt to remove hazardous environmental effects. The use of extracted metal for the production of the recycled battery can also assist in the lowering of emissions of CO2 to a huge extent. It can also assist in energy needs associated with mining thereby fueling the global battery recycling market.
The use of primary resources like lithium and lead is anticipated to increase in the upcoming years owing to the growing population and thereby bolstering the global battery recycling market. This calls for the requirement for the recycling of used materials so as to lower environmental footprint and preserve natural resources.
Global Battery Recycling Market: Segmentation
On the basis of chemistry, the global battery recycling market is divided as the lithium-based battery, lead acid battery, nickel-based battery, and other batteries. Based on source the global battery recycling market is segmented as consumer & electronic appliance batteries, industrial batteries, and automotive batteries. On the basis of end use the global battery recycling market is classified as disposal; reuse, repackaging and second life; and extraction of material. Based on material the global battery recycling market is bifurcated as manganese, iron, lithium, nickel, cobalt, lead, plastic, and aluminum.
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Global Battery Recycling Market: Regional Analysis
Europe added up to the huge share of the global battery recycling market. The recycling competence goals set by the Government of Europe is anticipated to increase the recycling rate of battery in the region and will drive the global battery recycling market. The recycling rate of used lead acid batteries is more in North America. In addition to this, the increasing requirement for electric vehicles, rising requirement for UPS system in commercial infrastructure, and the attendance of key players in the global battery recycling market are anticipated to boost the demand in the near future. South and Central America are anticipated to show considerable growth of the global battery recycling market owing to the increase in foreign spending in the area.
Global Battery Recycling Market: Competitive Players
The firm such as ECOBAT, Call2Recycle, Exide Technologies, Aqua Metals, EnerSys, and G&P Batteries operate business via very high recycling abilities spread all over the world in the global battery recycling market.
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Global Battery Recycling Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa
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