The Battery Recycling Market is a newly emerging, fast-growing market with scope to expand worldwide. The demand for an innovative and better solution for alternate sources of energy in the urbanizing world can be satisfied by recycling.
Call2Recycle, an industry-funded battery recycling company which has recycled over 7.2 million pounds of batteries in 2018, has launched its branch in the United States ahead of National Battery day.
The United States Department of Energy has announced a total of USD 20.5 million to be invested in the lithium-ion battery recycling. The investment consists of a USD 15 million to be invested in the R&D recycling center in collaboration with The National Renewable Energy Laboratory, Argonne National Laboratory, and Oakridge National Laboratory, and a USD 5.5 million rewards for the company which comes up with an innovative solution for collecting, storing and recycling lithium-ion batteries.
Battery Recycling Market Value and Growth:
The Global Battery Recycling Market size was around USD 9.19 billion by revenue, at the end of 2018. It is anticipated to grow at a 6.58 % CAGR to reach USD 12.64 billion by 2023.
Battery Recycling Market Drivers and Restraints:
The high demand for automotive batteries in the market is never-ending. Since they are mostly lead-acid or lithium-ion batteries the need for recycling batteries is driven by the excess demand from the automotive industry. Due to the increase in the use of lead-acid batteries for industrial purposes the market for recycling these batteries has a significant role to help supply for the rising demand. The regulations imposed by the government agencies on the battery manufacturers, as the natural earth metals are being depleted, drive the battery recycling market. However, the lack of technology to extract lithium from spent batteries and their safe handling issues decelerates the growth of the global market. The centralization of mineral resources in regions like Asia and Europe also act as restraining factors to the market.
Battery Recycling Market Segmentation Analysis:
By Chemistry of Battery
Based on the type of rubber the global Battery Recycling Market is categorized into Nickel-Based, Lithium-ion Based, Lead Acid, and Others. Among the different types of chemicals used in batteries, the lead-acid battery sector dominated the global market in 2018 and is anticipated to witness the highest growth rate among others. Lead-acid is the most common chemicals used in many automotive and industrial applications which is the exact reason for its leading growth rate. Lithium-ion batteries are next hight revenue generators in this market followed by nickel-based batteries.
By Source of Spent Battery
Based on the application of the Battery Recycling Market the global Battery Recycling Market is divided into Automotive, Industrial, Consumer & Electronic Appliance, and Others. Of the mentioned, applications the automotive sector is the largest in terms of volume and value. Since the automotive battery is the most important source of power in a vehicle which is independent of fuel, there is an immense demand in this sector which keeps driving the global market.
Battery Recycling Market Geographical Analysis:
Battery Recycling Market Key Players:
By the end of 2018, Call2Recycle Inc. (U.S.), Battery Solutions LLC (U.S.) Exide Technologies (U.S.), Gravita India Limited (India), Johnson Controls Inc.(U.S.), Retriev Technologies Inc.(US), East Penn Manufacturing Company(US), EnerSys(US), G & P Batteries(UK), Umicore N.V.(Belgium), Accurec Recycling GmbH(Germany), Aqua Metals Inc.(US), Vinton Batteries Limited(UK), Recupyl SaS(France), COM2 Recycling Solutions (Canada), and Doe Run Company (US), are the leading shareholders of the Global Battery Recycling Market market. These companies are currently focused on expansion strategies to improve their market value and position.
Battery Recycling Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.3 Micro Hybrid Batteries
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2.6 Y-o-Y Growth Analysis, By Type
5.2.7 Market Attractiveness Analysis, By Type
5.2.8 Market Share Analysis, By Type
5.3 End User
5.3.2 Passenger Car
5.3.4 Two Wheeler
5.3.5 Three Wheeles
5.3.6 Y-o-Y Growth Analysis, By End User
5.3.7 Market Attractiveness Analysis, By End User
5.3.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Type
184.108.40.206 By End User
220.127.116.11 By Indication
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
126.96.36.199 By Type
188.8.131.52 By End User
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Type
22.214.171.124 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Johnson Controls Inc.
8.3 Middle East Battery Company
8.4 Exide Technologies
8.5 G.S.Yuasa Corporation
8.6 Reem Batteries & Power Appliances Co. Saoc
8.7 Exide Technologies Inc.
8.8 Northstar Battery Company LLC.
8.9 Robert Bosch GmbH
8.10 Samsung SDI Co.
8.11 C&D Technologies, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures