Latest News- Battery Recycling Market: Automotive is expected to lead the Source segment during 2025-2029

The Battery Recycling Market is being driven by Widening lithium supply-demand gap

The Battery Recycling Market is expected to grow at a CAGR of 13.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26403.6 million. The depletion of metal reserves and the environmental consequences of improperly disposed batteries necessitate the urgent need for battery recycling. This responsibility should not solely rest on governments; instead, a collaborative effort from all stakeholders, including battery manufacturers, businesses, public agencies, and consumers, is essential. One such trend gaining traction in the global battery recycling market is stewardship collaboration. This approach unites governments, manufacturers, businesses, public agencies, and consumers, making each party accountable for the responsible management of batteries. Manufacturers, under extended producer responsibility (EPR) programs, are required to facilitate the collection and recycling of discarded batteries from consumers, ensuring a convenient and accessible solution. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Source
  • Automotive
  • Electronic appliance
  • Others
• Battery Type
  • Lead-acid
  • Lithium
  • Others
• Type
  • Hydrometallurgical recycling
  • Pyrometallurgical recycling
  • Mechanical recycling
  • Direct recycling
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Widening lithium supply-demand gap
• Legislation support for battery recycling
• Increasing urbanization in emerging markets

However, the market also witnesses some limitations, which are as follows:

• Lead contamination in environment
• Logistical issues in battery waste disposal
• Low yield of recycling battery

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Market Scope in Battery Recycling Market Research Report

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Research Analysis Overview

The Battery Market encompasses various aspects, including battery chemistries, regulations, disposal, and environmental impact. Circular economy initiatives prioritize efficient recovery and recycling of batteries, such as lithium-ion and sodium-sulfur, in the battery life cycle. Solar power and battery grid storage, along with sustainable transportation, drive market growth. Safety, sustainability, and innovation are key, with scalable procedures and research advancing battery performance, waste reduction, and cost analysis. Policymakers establish battery certifications, standards, and regulations to ensure safety and sustainability. Mining costs and battery life expectancy influence the market, while cobalt recovery and plastic recycling contribute to the supply chain. Battery second life and battery adoption expand applications, and battery infrastructure development continues to shape the market landscape.

Market Research Overview

The lead-acid battery recycling market is a significant segment within the broader context of the global renewable electricity market. This market encompasses businesses specializing in the collection, processing, and reuse of lead-acid batteries from the automotive sector, as well as emerging technologies such as sodium-sulfur, lithium-ion, nickel, and cobalt batteries. Key drivers for this market include the recovery and reuse of rare earth metals from end-of-life batteries, as well as the growing demand for renewable energy sources. The global renewable electricity market size includes revenues generated by independent power producers, gas and power marketing and trading specialists, integrated energy merchants, and manufacturers of raw materials and equipment used in the renewable energy sector. The market's expansion is fueled by supportive policies and targets for renewable power deployment, which have led to a substantial increase in the adoption of renewable energy sources over the past decade.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/