The Lead Acid Battery Recycling Market is being driven by Increase in demand for EVs
The Lead Acid Battery Recycling Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4042 million. In the lead acid battery recycling market, stewardship collaborations play a pivotal role in ensuring responsible management of batteries throughout their lifecycle. Manufacturers engage in Extended Producer Responsibility (EPR) programs, assuming accountability for their products' entire life cycle, including recycling. EPR initiatives establish a structured framework for battery manufacturers to contribute to collection and recycling efforts, fostering efficient resource recovery and regulatory compliance. Additionally, industry associations and organizations collaborate on initiatives to promote sustainable battery recycling practices, collectively driving environmental sustainability and responsible end-of-life disposal for lead acid batteries.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
205 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9% |
Market growth 2025-2029 |
USD 4042 million |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
8.3 |
Key countries |
US, China, Germany, Canada, UK, Japan, France, Italy, India, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Lead Acid Battery Recycling Market plays a crucial role in the environment by ensuring the sustainable disposal of waste batteries, which contain hazardous materials like lead, nickel, cobalt, and rare earth metals. This market is driven by the shift towards cleaner energy sources, such as electric vehicles and renewable energy sector, which require new batteries. Advanced battery technologies like lithium-ion and sodium-sulfur batteries are also gaining popularity. The increasing population, industrialization, urbanization, and use of electronic gadgets lead to a higher demand for lead acid batteries as a portable energy source in automobiles, UPS systems, grid energy storage, and golf carts. Recycling these batteries contributes to a greener economy by reducing the need for mining and extracting raw materials.
The Lead Acid Battery Recycling Market is a crucial component of the burgeoning green economy, focusing on the refurbishment and repurposing of used lead-acid batteries. This sector plays a pivotal role in the circular economy, contributing to the reduction of waste batteries and the extraction of valuable materials for the production of new batteries. Key drivers for the market include the increasing demand for cleaner energy sources, such as those derived from electric vehicles and renewable energy storage systems. The growth of the global renewable electricity market, driven by supportive policies and targets for renewable power deployment, further bolsters the demand for lead-acid battery recycling. Moreover, the recycling process mitigates potential environmental and health risks associated with the disposal of used batteries, safeguarding both wildlife and human health, particularly the nervous system.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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