Authored By: Sarah
09 Oct 2024

Latest News:- Lead Acid Battery Recycling Market: Flooded lead acid batteries is expected to lead the Type segment during 2024-2028

Lead Acid Battery Recycling Market to grow at a CAGR of 8.3% during 2024-2028

The Lead Acid Battery Recycling Market is expected to grow at a CAGR of 8.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.41 billion. In the lead-acid battery recycling market, stewardship collaborations represent a business strategy that fosters shared responsibility among manufacturers, consumers, and regulatory bodies for the entire lifecycle of these batteries. This includes their responsible disposal and efficient recycling. Two notable examples of such collaborations are Extended Producer Responsibility (EPR) programs and industry-led initiatives. Through EPR programs, manufacturers assume responsibility for their products' end-of-life management, including recycling, by participating in structured frameworks that facilitate collection and recycling initiatives. Industry associations and organizations collaborate on initiatives to promote responsible battery recycling practices, contributing to environmental sustainability, regulatory compliance, and resource recovery. 

Get more information on Lead Acid Battery Recycling Market by requesting a sample report

The Flooded lead acid batteries subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Flooded lead acid batteries subsegment will lead the Type segment during 2024 and 2028 The flooded lead-acid (FLA) battery market is dominated by this cost-effective battery technology, which offers the least expense per ampere-hour among various lead-acid battery types. FLA batteries are characterized by their plates being fully submerged in an electrolyte solution, comprised of one-third sulfuric acid by volume, with water accounting for the remainder. With a long-standing history, FLA batteries come in various sizes and types, catering to diverse applications, such as automotive, industrial, and stationary power systems. The segment's expansion is driven by environmental concerns, regulatory pressures, and the economic advantages of sustainable practices.

Here are the various ways based on which the market is segmented: 

  • Type
    • Flooded lead acid batteries
    • Sealed lead acid batteries
  • Method
    • Collection and separation
    • Hydrometallurgical process
    • Pyro-metallurgical process
    • Neutralization acid
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • Middle East and Africa

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  • Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
  • Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
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There are several factors that are causing the market to flourish increase in demand for evs

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Lead Acid Battery Recycling Market is experiencing significant growth due to the increasing demand for lead acid batteries in various industries. These batteries are widely used in golf carts, grid energy storage, UPS systems, automobiles, and as a portable energy source for electronic gadgets. With urbanization and industrialization, population growth, and the shift towards cleaner energy, the demand for lead acid batteries is expected to increase further. Lead acid batteries contain hazardous materials such as lead, sulfuric acid, and rare earth metals like cadmium, selenium, and antimony. Recycling these batteries is essential for the environment and for the sustainable production of new batteries. The renewable energy sector, including wind and solar power, is a major consumer of lead acid batteries. Advanced battery technologies like sodium sulfur batteries and lithium-ion batteries are gaining popularity, but lead acid batteries still dominate the market due to their affordability and reliability. The automotive industry, particularly electric vehicles, is also a significant consumer of lead acid batteries. The recycling of lead acid batteries not only helps in the conservation of natural resources but also reduces the need for the extraction of rare earth metals like lithium, cobalt, and nickel. The market for lead acid battery recycling is expected to grow further as the green economy continues to expand and the demand for cleaner energy sources increases.

Market Research Overview

According to Technavio, the global lead acid battery recycling market is a segment of the broader global renewable electricity market, which encompasses businesses involved in the generation and distribution of electricity derived from renewable sources. This market comprises independent power producers, gas and power marketing and trading specialists, integrated energy merchants, and renewable electricity manufacturers, in addition to those producing raw materials and equipment for the solar power industry. The expansion of the global renewable electricity market is primarily driven by supportive policies and ambitious targets for renewable power deployment. These initiatives have fueled the adoption of renewable energy sources at an unprecedented rate over the past decade.

The Lead Acid Battery Recycling Market is experiencing significant growth, fueled by the increase in demand for evs. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

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