The Business Research Company’s report on the Battery Recycling Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the battery recycling industry?
The increasing adoption of electric vehicles is expected to drive the growth of the battery recycling market in the forecast period. Electric vehicles (EV) are automobiles which are completely or partially powered by electricity. Disposing an electric vehicle battery is expensive, particularly if the waste contains valuable materials. Recycling is an opportunity to minimize life cycle costs by recovering high-value materials and avoiding the expense of hazardous waste disposal. With the growth in EV sales, the number of lithium-ion batteries in the market increases. The limited life of these batteries requires an effective recycling medium in order to stabilize domestic sources of materials for battery production, reduce the demand for raw materials and minimize geopolitical disruptions of the supply chain. After a period of 5-8 years the power generated by these batteries is not enough for the EV, but it can be used in other low-grade applications such as in households, energy backups, renewable energy storage and off-peak energy storage. Recycling EV batteries also helps recover the metals – cobalt, lithium, nickel, and others, which can then be used for manufacturing new batteries, saving resources and cost of production. According to International Energy Agency, global electric vehicle sales are projected to reach 125 million by 2030. Therefore, the increasing adoption of electric vehicles propels the growth of the battery recycling market.
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What is the estimated market size of the battery recycling sector by 2029, based on current forecasts?
The battery recycling market size has grown rapidly in recent years. It will grow from $19.56 billion in 2024 to $21.91 billion in 2025 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to rise in electronic waste andThe need for proper disposal, increased adoption of rechargeable batteries in consumer electronics, growth ofThe electric vehicle market, stringent environmental regulations promoting recycling practices, awareness ofThe finite nature of metal resources.
The battery recycling market size is expected to see rapid growth in the next few years. It will grow to $35.56 billion in 2029 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to focus on sustainable practices, government incentives and policies promoting battery recycling, rising demand for energy storage solutions, increasing consumer awareness and preferences for sustainable products, growing focus on circular economy and closed-loop supply chain. Major trends in the forecast period include focus on developing innovative business models for battery recycling, technological advancements in battery recycling processes, collaboration between industries, integration of blockchain technology for transparent and traceable battery recycling, exploration of urban mining for extracting valuable materials from used batteries.
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Who are the top players 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 are the major trends in the 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 July 2022, Redwood Materials, a US-based developer of sustainable battery materials, partnered with Volkswagen Group of America, a US-based automobile company. The partnership aims to recycle all end-of-life batteries from Volkswagen and Audi electric vehicles. Redwood will collaborate with Volkswagen Group of America’s network of over 1,000 dealers to recover, safely package, transport, and recycle EV battery packs from Volkswagen and Audi vehicles at the end of their lifecycle.
Which geography holds the highest battery recycling market share?
North America was the largest region in the battery recycling market in 2024. The regions covered in the battery recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the battery recycling market?
The battery recycling market covered in this report is segmented –
1) By Type: Lead-Acid Battery, Nickel-Based Battery, Lithium-Based Battery, Other Battery Types
2) By Processing State: Extraction Of Material, Reuse, Repackaging And Second Life, Disposal
3) By Application: Automotive, Consumer Electronics, Industrial, Other Applications
Subsegments:
1) By Lead-Acid Battery: SLI (Starting, Lighting, Ignition) Batteries, Deep Cycle Batteries, Valve-Regulated Lead-Acid (VRLA) Batteries
2) By Nickel-Based Battery: Nickel-Cadmium (NiCd) Batteries, Nickel-Metal Hydride (NiMH) Batteries
3) By Lithium-Based Battery: Lithium-Ion Batteries, Lithium Polymer Batteries
4) By Other Battery Types: Zinc-Carbon Batteries, Alkaline Batteries, Silver-Zinc Batteries
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What defines the structure and scope of the battery recycling market?
Battery recycling refers to the method of reusing and reprocessing batteries in order to reduce the number of batteries being disposed of as waste. Recycling can assist in extracting the raw ingredients from used batteries and sending them to businesses that manufacture products for reuse. This reduces the price of fresh batteries as well.
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