Global Battery Recycling Market Trends And Strategies Of Major Players In The Battery Recycling Market 2021-2030
4 Jun, 2021
The battery recycling market consists sales of recycled batteries by entities (organizations, sole traders and partnerships) and related services. Battery recycling is the method of reusing and reprocessing batteries in order to reduce the number of batteries being disposed as waste.
Global Battery Recycling Market Size And Drivers:
The global battery recycling market is expected to grow from $9.97 billion in 2020 to $11.04 billion in 2021 at a compound annual growth rate (CAGR) of 10.76%. The growth is mainly due to increase in awareness about battery recycling. The battery recycling market is expected to reach $16.90 billion in 2025 at a CAGR of 11.23%. The increasing adoption of electric vehicles is expected to drive the growth of the battery recycling market in the forecast period.
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Trends In The Global Battery Recycling Market
Major companies operating in the battery recycling market are entering into strategic collaborations to improve know how and enhance battery recycling efficiency. For instance, in 2021, UK based sustainable technologies company, Johnson Matthey partnered with Sweden based leading recycler of industrial waste and end of life products, Stena Recycling Group, to develop an efficient value chain for the recycling of lithium-ion batteries and cell manufacturing materials in Europe.
Global Battery Recycling Market Segments:
The global battery recycling market is further segmented based on type, processing state, application and geography.
By Type: Lead-Acid Battery, Nickel-Based Battery, Lithium-Based Battery, Other Battery Types
By Processing State: Extraction Of Material, Reuse, Repackaging And Second Life, Disposal
By Application: Automotive, Consumer Electronics, Industrial, Others
By Geography: The global battery recycling market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the battery recycling market in 2020.
Read More On The Report For The Global Battery Recycling Market At:https://www.thebusinessresearchcompany.com/report/battery-recycling-global-market-report
Battery Recycling Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides battery recycling market overviews, analyzes and forecasts market size and growth for the global battery recycling market, battery recycling market share, battery recycling market players, battery recycling market segments and geographies, battery recycling market’s leading competitors’ revenues, profiles and market shares. The battery recycling market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.