Global Battery Recycling Market Projected To Touch US$19.9 bn 2024
Global market for battery recycling services will register a steady 10.9% CAGR from 2016 to 2024, with the opportunity in this market rising from US$7.1 bn to be worth US$19.9 bn by the end of the forecast period.
[USPRwire, Fri Dec 28 2018] In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Global Battery Recycling Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
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Batteries find extensive applications in various industries and end use applications. They are the most important equipment for electrical energy storage. In recent times the world has seen exponential growth in portable devices in critical as well as no critical functions of day to day life. This growth in portable devices has seen a tremendous growth in battery usage. Chemicals store energy in a battery and then deliver it to desired usage through a chemical reaction. In chargeable batteries this process is reversible for certain number of cycles. In non-chargeable batteries the process is not reversible. In both types of batteries once the capacity of delivering energy of the battery comes to an end it needs replacement. The new battery replaces old battery and old battery is thrown away. Due to large quantum of devices using batteries these used batteries are posing environmental concerns due to presence of hazardous chemicals. There are different ways to treat these spent batteries. These batteries can be used to extract materials, can be awarded a second life through repackaging or can be disposed scientifically.
This research study analyzes the market for battery recycling in terms of revenue (US$ Mn). The battery recycling market has been segmented on the basis of battery chemistry, spent battery source, end-use, and region. In terms of region, the market has been divided into five segments that comprise twenty five countries, which are major players in the Global Battery Recycling Market. For the research, 2014 and 2015 have been taken as the base years, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the regional and country level from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the battery recycling business. The report also includes key market dynamics such as drivers, restraints, and opportunities affecting the global battery recycling market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global battery recycling market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the battery recycling business globally. There are currently numerous drivers for the market. One of the most compelling drivers is rising environmental hazards across the globe created by used batteries. Market attractiveness analysis was carried out for the battery recycling market on the basis of regions. Market attractiveness is estimated on the basis of common parameters that directly impact the market in different regions.
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The battery recycling market is segmented by battery chemistry (lithium ion, lead acid, nickel cadmium, and others), by spent battery source (automotive, electronic appliance, and others), and by end-use (extraction of material, repackaging, reuse, and second life). The market is analyzed across five geographies: North America, Europe, Asia Pacific, Middle East & Africa, and South America. Regional data has been provided for each sub-segment of the battery recycling market. Key players in the market include Battery Solutions LLC, Call2Recycle, Inc., East Penn Manufacturing Company, EnerSys, Exide Technologies, G&P Batteries, Gravita India Ltd., Johnson Controls, Inc., Retriev Technologies Inc., and Umicore N.V. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Considering the global adoption pattern of battery recycling technology, the battery recycling market has been segmented as follows:
Battery Recycling Market: By Battery Chemistry
- Lithium Ion
- Lead Acid
- Nickel Cadmium
Battery Recycling Market: By Spent Battery Source
- Electronic Appliance
Battery Recycling Market: By End-use
- Extraction of Material
- Repackaging, Reuse, and Second Life
Battery Recycling Market: By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle east & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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