Market Revenue Growth of USD 9.20 Bn is forecasted for Battery Recycling Market through 2023-2027 | Forecast and Trend Analysis
The Battery Recycling Market is projected to reach a size of 10.46% CAGR by 2027. An estimated USD 9.20 billion will be added to the market size. The expanding gap between the supply and demand for lithium, government assistance for battery recycling, and rising urbanization in emerging nations are some of the variables that will determine the market's growth.
Snapshot of Battery Recycling Market Analysis
Emerging Trends to Impact Market Growth of the Battery Recycling Market: Battery recycling is seeing a major trend with the growing government backing for electric vehicles. As global greenhouse gas emissions and environmental concerns have grown, countries have started to reevaluate their usage of fossil fuels in the transportation sector. EVs are the only viable substitute for cars that run on fossil fuels. To encourage the switch from petrol and diesel cars to electric vehicles (EVs), several nations are enacting goals and regulations.
Companies like Accurec Recycling GmbH, Battery Solutions LLC, Call2Recycle Inc., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Gravita India Ltd., Johnson Controls International Plc, The Doe Run Resources Corp., and Umicore are some of the major market participants.
Technavio has been monitoring the market's growth trajectory traced through a detailed analysis of the prevalent market along with competitive benchmarking.. Find out more about the market dynamics, trends, and factors that are most likely to affect the market under consideration in our report's extensive study.