30 January 2023
Battery recycling is a process that involves reprocessing and reusing old batteries to reduce the number of batteries being disposed off. Therefore, this recycling activity reduces municipal solid waste and the negative environmental impact. This market has grown significantly in the past few years and is expected to grow further.
Batteries emit hazardous pollutants into the environment, damaging soil and water. Therefore governments worldwide have imposed strict environmental and health regulations to reduce this environmental damage. Hence, there is an increase in the demand for recycled batteries to comply with the regulations.
The demand for consumer electronics primarily drives the battery recycling market. As the disposable income among the middle-class population continues to increase, there is a positive impact on the demand for electronics to improve the standard of living. Since batteries primarily power these electronics, there is an increase in recycling facilities to dispose of them.
Moreover, growing environmental concerns and a continuous rise in old lithium-ion batteries may also serve as significant growth drivers (in the projected period).
Customers are increasingly becoming aware of the negative impacts of battery disposal. Due to this reason, they are opting for electronics that use recyclable batteries. Therefore, environmentally conscious consumers help create many growth opportunities in the battery recycling market. Moreover, governments are also improving the infrastructure for recycling batteries, further propelling the global battery recycling market.
Furthermore, there has also been an increase in the number of investments in the battery recycling market, as it is expected to have a prosperous future. In addition, key market players are also seeking ways to improve their recycling capabilities to cater to the increasing demand for recyclable batteries. Therefore, the battery recycling market is anticipated to experience enormous growth.
Non-profit organisations worldwide are also taking initiatives to send a powerful message regarding battery recycling. Therefore, lead-acid batteries' flow has significantly increased due to this increased awareness. These non-profit organisations also work in battery recycling factories with automobile companies and manufacturers.
In addition, people worldwide are increasingly travelling for work and other purposes. Therefore, the demand for portable electronics that require rechargeable batteries increases. These portable gadgets have a life span of two to five years, depending on their size and the kind of battery used. Thus, when a battery reaches the end of its life span, users have to replace them with new ones. Since customers prefer recyclable battering, several mobile manufacturers have thus started recycling batteries to reduce environmental impact and cater to this increased demand.
There has also been an increase in the demand for battery recycling in the automobile sector. This segment is anticipated to dominate the global recycling market in the forecast period, owing to the rising popularity of emission-free electric vehicles.
However, battery recycling is a costly and time-consuming process, which may hinder the growth of the global battery recycling market.
Key players operating in the global battery recycling market include American Manganese Inc., Battery Solutions LLC, Kinsbursky Bros. Supply Inc., Retriev Technologies Inc., Call2Recycle, Inc., G&P Batteries, East Penn Manufacturing Company, Johnson Controls International PLC, EnerSysExide Technologies, Call2Recycle, Inc., and many others.
The battery recycling market can be divided into five primary regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-pacific dominates the battery recycling market due to increased disposable income among the population and rising demand for automobiles. Moreover, rising environmental concerns in this region are also likely to propel market growth in the projected period.
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This report provides accurate and up-to-date information about the battery recycling market. It consists of 90 data tables and eight additional tables, which shows how in-depth it is. It covers all the battery recycling methods used across various industries. In addition, it also highlights the applications of battery recycling across different sectors.
Moreover, this report also analyses the battery recycling market at both country and regional levels. In addition, it also segments the battery recycling market based on demographics, geography, etc.
This report also discusses the impact of the covid-19 pandemic on the battery recycling market. It also covers in detail all the recent developments in the global battery recycling industry. Additionally, it analyses historical market trends and discusses future projections allowing you to make timely and informed business decisions.
This report also identifies high-end technologies and applications leading to an increase in the demand for battery recycling. It also covers all the information regarding key market players.
This report provides country-specific data and analyses of the advancements made across various countries, for example, Brazil, South Africa, Japan, China, Belgium, Germany, the UK, Canada, and South Africa. It also provides the compound annual growth rate and predictions for the next five years.
Moreover, it will also highlight the factors driving the battery recycling market and the significant constraints slowing down growth. It also provides detailed information on the increasing investments, technological advancements and challenges specific to this industry.
Furthermore, this report also highlights all the major stakeholders in the battery recycling market and how they benefit from its rapid growth. It will also provide an in-depth assessment of the competitive landscape.
Therefore, this report will significantly benefit businesses or anyone looking for in-depth information on the battery recycling market. For more details on accessing and purchasing this report, click here.
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