How Solid is the Battery Recycling Market’s Growth and What are its Historical and Forecasted Market Sizes?
The battery recycling market size has experienced significant growth in recent years, expanding from $19.56 billion in 2024 to an anticipated $21.91 billion in 2025, a compound annual growth rate (CAGR) of 12.1%. This growth in the historic period can be attributed to several factors, notably the rise in electronic waste, the need for proper disposal, increased use of rechargeable batteries in consumer electronics, the blossoming electric vehicle market, stringent environmental regulations promoting recycling practices, and increased awareness of the finite nature of metal resources.
In the coming years, the battery recycling market size is expected to continue this rapid expansion, reaching $35.56 billion in 2029 with a compound annual growth rate (CAGR) of 12.9%. This forecasted growth can be attributed to a number of trends, including the focus on sustainable practices, government incentives and policies promoting battery recycling, increased demand for energy storage solutions, surging consumer awareness and preference for sustainable products, and a growing emphasis on circular economy and closed-loop supply chains.
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What Factors are Projected to Drive Growth in the Battery Recycling Market?
One key driver of the anticipated growth in the battery recycling market is the increasing adoption of electric vehicles. These are vehicles that are either fully or partially powered by electricity. Disposing of electric vehicle batteries is expensive, especially if they contain valuable materials. Therefore, recycling presents an opportunity to minimise life-cycle costs by recovering high-value materials and avoiding the expense of hazardous waste disposal. The International Energy Agency projects that global electric vehicle sales will reach 125 million by 2030, thus creating many more lithium-ion batteries, the limited life of which will require effective recycling to stabilise the supply of materials for battery production, curb the demand for raw materials and minimize supply chain disruptions.
What are the Key Segments in the Battery Recycling Market?
• 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, Other Applications
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What Key Companies are Operating in the Battery Recycling Market?
Major companies operating in the battery recycling market include Li-Cycle Holdings Corp., Battery Solutions LLC, Exide Industries Ltd., Umicore NV/SA, Aqua Metals Inc., Gravita India Limited, East Penn Manufacturing Company, ENERSYS Corp., Fortum Oyj, Accurec Recycling GmbH, Eco-Bat Technologies Ltd., Terrapure Environmental Services Inc., Guangdong Brunp Recycling Technology Co. Ltd., Anhua Taisen Recycling Technology Co. Ltd., Doe Run Company, RSR Corporation, Gopher Resource LLC, Glencore plc, American Battery Technology Company, Call2recycle Inc., G. & P. Batteries Limited, Retriev Technologies Inc., Stena Recycling Sp. z o. o., TES India Private Limited, The International Metals Reclamation Company, Cirba Solutions Co., RecycLiCo Battery Materials Inc., Sitrasa Co., Recupyl SAS, Raw Materials Company Inc., Battery Recycling Systems Co., Johnson Controls International plc.
What Trends are Emerging in the Battery Recycling Market?
One major trend in battery recycling is collaboration between companies to refine recycling procedures. For example, Redwood Materials, a US-based sustainable battery materials developer, has partnered with the US branch of automobile company Volkswagen Group. The partnership seeks to recycle all end-of-life batteries from Volkswagen and Audi electric vehicles, which involves collaborating with Volkswagen Group of America’s network of over 1,000 dealers to recover, safely package, transport, and recycle EV battery packs.
Which Region Dominates the Battery Recycling Market and Which is Set to Grow at the Fastest Pace?
In 2024, North America was the largest region in the battery recycling market, followed by Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa. These regions are encompassed in the battery recycling market report.
Understanding the Battery Recycling Market: What Does The Battery Recycling Market Report 2025 Offer?
Battery recycling involves the reprocessing and reuse of batteries to reduce the number of batteries disposed of as waste. The recycling process helps in extracting raw materials from used batteries and sending them to businesses that manufacture products for reuse, which reduces the cost of fresh batteries. The Battery Recycling Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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