Market Overview:
Battery recycling involves reusing batteries from different sources, avoiding them from disposal or wastage. Almost all household batteries, along with battery from mobile phones, power tools, laptops & remote-control units, and cars can be recycled. Batteries comprise many toxic and hazardous metals and heavy metals like lead, mercury, nickel, and cadmium that contaminate earth and surface water resources. Battery recycling avoids the degradation of the environment and potential health hazards caused by disposed batteries. The world battery recycling market size was worth USD 9.19 billion in 2020. It is estimated to grow at a 6.58% CAGR to reach USD 12.64 billion by 2025.

Market drivers and restraints:
The high demand for automotive batteries in the market is never-ending. Because they are mostly lead-acid or lithium-ion batteries, the need for recycling batteries is driven by the excess demand from the automotive market. Owing to the rise in the utilization of lead-acid batteries for industrial purposes, the market for recycling these batteries has a significant role in helping supply for the growing demand. The centralization of mineral resources in regions like Asia and Europe also act as restraining factors to the market.

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Report segmented as:

By chemistry:
• Nickel based
• Lithium ion based
• Lead acid
• Others

By source:
• Automotive
• Industrial
• Consumer and electronic appliance
• Others

Geographical analysis:
Based on the geography, the battery recycling market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe led the world battery recycling market in 2017. This can be ascribed to the implementation of strict environmental regulations regarding battery disposal and recycling across the region.

Important market players:
Major players operating in the world battery recycling market are Battery Solutions LLC, Call2Recycle, Inc., Exide Technologies, Retriev Technologies, Inc., East Penn Manufacturing Company, EnerSys, G & P Batteries, Gravita India Ltd., Johnson Controls, Inc., and Umicore N.V.

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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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