Battery Recycling market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Battery Recycling market size was estimated at USD 24.84 billion in 2023 and is projected to reach USD 51.2 billion in 2030 at a CAGR of 10.9% during the forecast period 2023-2030.
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The realm of battery recycling involves the collection, processing, and extraction of valuable materials from used batteries, while also aiming to minimize the environmental impact. This encompasses a variety of battery types, ranging from those utilized in automobiles (such as electric vehicles), to portable electronics (such as smartphones and laptops), to energy storage systems (such as those implemented in renewable energy installations).
The primary goal of the worldwide battery recycling market is to decrease the disposal of batteries within landfills or incineration facilities, as improper disposal can result in environmental pollution and health hazards due to the presence of toxic chemicals and heavy metals. Instead, the emphasis is placed on recovering valuable elements like lithium, cobalt, nickel, lead, and other metals through smelting, hydrometallurgical techniques, and mechanical separation.
Competitive Landscape:
- Accurec Recycling Gmbh
- American Battery Technology Company
- Aqua Metals, Inc.
- Call2Recycle, Inc.
- Cirba Solutions
- Contemporary Amperex Technology Co., Limited
- East Penn Manufacturing Company
- Ecobat
- Element Resources
- Enersys
- Exide Industries Ltd.
- Fortum
- Gem Co., Ltd.
- Glencore
- Gopher Resource
- Gravita India Ltd.
- Li-Cycle Corp.
- Neometals Ltd.
- Raw Materials Company
- Recyclico Battery Materials Inc.
- Umicore
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North America to Dominate the Market
North America is estimated to account for the largest market share during the forecast period due to the expanding population, industrialization, urbanization, and rising demand for electronic gadgets, electric vehicles (EVs), and renewable energy storage systems.
Recent Developments
- In April 2023, Cirba Solutions signed a Memorandum of Understanding (MoU) with Honda to collect, process, and return recycled battery materials to be used as raw material for Honda’s battery supply chain for application in future EV batteries.
- In February 2023, Contemporary Amperex Technology Co., Limited, Mercedes-Benz, and GEM Co., Ltd. signed a memorandum of understanding for the recycling of cobalt, nickel, manganese, and lithium metals from spent EV batteries of Mercedes-Benz and remanufacture them into battery cathode materials.
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In addition to the market data for the Battery Recycling Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Reasons to Acquire
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Battery Recycling Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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