Battery Recycling Market Size, Share and Global Trend By Battery Type (Primary Battery, Secondary Battery), By Chemistry (Lead Acid Battery, Nickel Cadmium Battery, Nickel Metal Hydride Battery, Lithium-Ion Battery), By Source (Automotive, Consumer and Electronic Appliance, Industrial Battery) and Regional Forecast, 2024-2032

The extensive use of batteries in a broad category from storing energy to operating various equipment’s results in millions of tonnes batteries in operation across the globe. Though battery provides sufficient energy for a wide variety of operations, recycling of batteries is the hottest topic in today’s economic world. The development in the field of automobile, aviation & aerospace, marine hybrid propulsion, defence, telecommunication, micro-grid, and many more which enormously utilize batteries in their application. Production of various types of batteries are on a huge scale as compared its recycling. Dumping of batteries in open space can cause serious environmental threats and contamination of groundwater. The toxic materials within the battery can be released into the environment and pose a severe hazard to human health and the environment. Therefore, it is necessary to recycle batteries to reduce rising pollution caused by dumping of batteries without any processing.

The recycling of batteries can be categorized into following types viz. Primary Batteries and Secondary Batteries. Primary batteries are non-rechargeable type of battery majorly find in electric toys, watches, consumer electronics etc. Secondary batteries are rechargeable type of batteries primarily used in automotive, electronics and electrical equipment, industrial battery and others. On the basis of chemistry type, the battery recycling market can be segmented as lead-acid battery, nickel cadmium battery, nickel hydride battery, lithium-ion battery, and others.

Batteries are broadly used across various segments such as electric vehicle, electronic and electrical gadgets, energy storage, SLI of automobiles (starting, lighting, and ignition), marine & submarine applications, mining operation, etc. which generate million tons of waste which intensify the growth of battery recycling market. Increasing concern over dumping of batteries stressed global leaders to tighten the recycling policies to mitigate serious environmental threat which drive battery recycling market.

Batteries contain highly hazardous and toxic metal content which requires a proven technical method and trained staff otherwise it may explode causing loss of life and property which inhibits its recycling market. Recycling of batteries involves high operational cost which hindering the growth of the battery recycling.

KEY PLAYERS COVERED

The top companies in the battery recycling are Excide Technologies, Veolia, Call2Recycle, Umicore, Retriev Technologies, Gravita India Limited, Glencore, Johnson Controls, Aqua Metals, American Manganese, Battery Solutions, Raw Material Company Inc., The International Metals Reclamation Company, and Battery Recycling Made Easy.

SEGMENTATION

REGIONAL ANALYSIS

The battery recycling market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is having the largest economy in the world pave the way for development in the field of aerospace and aviation, automobile, infrastructure, telecommunication, energy development, etc. where batteries are extensively used as energy storage solution. Millions of tons of battery waste are generated and immediate action is required for recycling and processing of batteries. Department of Energy (U.S.) has started researching and funding on an effective battery recycle programme. European Parliament embodied a Battery Directive in 2006 with the aim of improving environmental sustainability by effective collection and segregation of batteries. European countries are more concerned about rising carbon emission and implementing strict rules and regulation to mitigate environmental degradation. More countries in this region are adopting a renewable form of energy which not only reduces carbon emission but also minimize the dependency of fossil fuel.

Batteries play a huge role in storing energy which is coupled to solar panels and wind turbines. Electric buses are widely used for public transportation which is a key market for batteries. The potential development in the broad area will increase the use of batteries which is expected to increase the growth of battery recycling in this region. Countries in Asia Pacific region has shown tremendous demand for batteries in past couple of year and this trend is likely to upkeep the demand of battery recycling in the region. The largest emerging economies in Asia Pacific are India and China; both countries have tremendous growth possibilities due to a huge consumer base. China already topped in electric vehicle consumer and also hold the largest manufacturing units of electronics and electrical equipment’s. The consumption rate of a communication devices, computers, electronics gadgets is high in India. This will drive the market for battery recycling in the Asia Pacific.