IMARC Group, a leading market research company, has recently releases report titled, “Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global battery recycling market report, share, size, growth, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Battery Recycling Market?
Market Size in 2022
US$ 14.4 Billion
Market Forecast in 2028
US$ 23.3 Billion
Growth rate (2023 to 2028)
CAGR of 8.2%
Base Year of the Analysis
What is Battery Recycling?
Battery recycling is a process that involves the collection, sorting, and treatment of used batteries to recover valuable materials that can be reused. Upon collecting used batteries from various sources based on their unique chemistry properties, these batteries are sent to specialized recycling facilities where professional treatment is initiated through processes such as disassembling and crushing them down to separate valuable metallic components, including nickel, cobalt, and lithium in order to recover these elements for reuse purposes. As a result of this process of recovery through battery recycling comes several benefits, such as a reduction in demand for new raw materials, which helps minimize greenhouse gas emissions while also conserving energy. Battery waste reduction is becoming a critical priority around the world. In response to this challenge, pyrometallurgy, hydrometallurgy, and biometalurgy can be applied for effective recycling purposes.
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What are the growth prospects and trends in the Battery Recycling industry?
The rising pollution level is the primary driver that is driving the global market. This is encouraging the adoption of sustainable practices and materials, including the battery recycling process, which is boosting the entire battery recycling industry and increasing the focus on sustainable development among consumers and enterprises. Along with this, the benefits of sustainable practices, including cost savings, improved reputation, and higher customer loyalty, are also being recognized by several businesses, which is also driving the market. Additionally, governments of various nations are undertaking numerous initiatives to enact strict environmental regulations and policies by offering financial support and developing minimum recycling rates for batteries and other electronic products, which is acting as another growth-inducing factor. Apart from this, electric and hybrid vehicles are growing in popularity across the globe, which is increasing the manufacture of batteries and, in turn, increasing the amount of battery trash. Therefore, the market for battery recycling is being stimulated by the need for more efficient and effective recycling solutions as the number of used batteries increases, creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Key Market Segmentation:
Middle East and Africa
Who are the key players operating in the industry?
Accurec Recycling GmbH
G. & P. Batteries Limited
Gravita India Limited
Retriev Technologies Inc.
Also Read Full Blog: Top Battery Recycling Companies Worldwide
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