“The global battery recycling market is projected to grow at a CAGR of 6.5 % from 2017 to 2022”
The global battery recycling market is projected to reach USD 11.83 billion by 2022, at a CAGR of 6.5% from 2017 to 2022. The major reasons for the growth of the battery recycling market include the increasing concern for environmental pollution and enforcement of stringent environmental regulations across regions. Since there are no any scientific disposal techniques, all spent batteries must be redirected to recyclers to prevent air pollution and soil contamination. The rising concerns about depleting earth metals and government initiatives to recycle batteries are also among the drivers for the battery recycling market globally.
“Based on chemistry, the lead acid battery segment is the largest segment of the battery recycling market”
The lead-acid battery chemistry segment led the battery recycling market in 2016. This chemistry segment is evolving as the most suitable battery type for recycling as it is the most commonly used battery and 99% of its lead content is recyclable. In addition, the recycling of lead-acid chemistry has been proved to be safe to the ecosystem. It is highly regulated and practiced at local, state, national, and international levels.
“Automotive batteries is the fastest-growing source segment in the global battery recycling market”
The automotive source segment is projected to witness the highest growth from 2017 to 2022. The rising use of automobiles and growing number of government regulations to recycle the batteries has fueled the global demand for battery recycling. The growth in demand for recycling of batteries is particularly high in the emerging regions such as Asia-Pacific for automobile batteries.
“Europe led the global battery recycling market in 2016”
Europe led the global battery recycling market in 2016. The battery recycling market in Europe is projected to witness the highest growth in the coming years. The growing output of spent batteries from various end-use sources, such as automotive, industrial, and consumer & electronic appliances is responsible for the growth of the Europe battery recycling market.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 35%, Tier 2 – 35%, Tier 3 – 30%
- By Designation: C level – 25%, Director level – 30%, Others1 – 45%
- By Region: North America – 35%, Europe –24%, Asia-Pacific – 20%, Middle East & Africa-12%, South & Central America – 9%?
1Others includes sales, marketing, and product managers
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by key market players, such as Call2Recycle (U.S.), Johnson Controls Inc. (U.S.), and Exide Technologies Inc. (U.S.)
The report defines, segments, and projects the global battery recycling market based on chemistry, source, end use, material, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyzes their market share and core competencies and tracks and analyzes competitive developments, such as partnerships, contracts, mergers & acquisitions, expansions, new product launches, and research & development in the market.
Reasons To Buy the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall battery recycling market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on battery recycling services offered by top players in the battery recycling market
- Product Development/Innovation: Detailed insight on technologies and research & development activities in the battery recycling market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for battery recycling across regions
- Market Diversification: Exhaustive information about recyclers, untapped geographies, expansions, and investments in the battery recycling market
- Competitive Assessment: In-depth assessment of market shares, strategies, services, and recycling capabilities of the leading players in the battery recycling market