Battery Recycling Market to Hit US$19.9 bn by 2024

Battery recycling is at present a niche market which is poised to explode in the near future with unveiling of superior technologies and better methods to salvage complex battery materials. It is making impressive strides on account of savvy battery manufacturers constantly looking for opportunities to recycle them in order to cut down costs. Both big and small players are contributing to the global battery recycling market.

Read Report Overview @

Call2Recycle Inc., Battery Solutions LLC., Johnson Controls Inc., Exide Technologies, and Gravita India Ltd. are some of the prominent participants in the global market for battery recycling. To improve their sales and revenues, such players are seen banking upon partnerships and collaborations to come up with better processes and technologies for recycling.

A report by Transparency Market Research projects the market for battery recycling to attain a value of US$19.9 bn by the end of 2024 from US$7.1 bn by the end of 2015. The CAGR at which the market will progress between 2016 and 2024 has been estimated to be 10.9%.

The battery recycling market can be classified on the basis of battery source into automotive, electronics, and appliances, among others. Among them, used batteries of the automotive sector accounted for maximum share in the market in 2015 and going forward too is expected to hold on to its leading position. This is mainly on account of higher percentage of lead acid batteries used in vehicles which are comparatively easy to extract since they need relatively lesser degree of operational excellence.

South America, North America, Europe, Asia Pacific, and the Middle East and Africa are some of the main geographic regions in the market for battery recycling studied in the TMR report. It finds that Europe is the leading region among them on account of the major thrust by countries in the region on energy conservation technologies. Stringent regulations pertaining to adequate disposal of used batteries and incentives and compensations for recyclers have mainly stoked the market in the region.

battery-recycling-marketToxic Materials in Batteries Leads to Mandates on Recycling, Thereby Boosting Market

Cadmium, lead, nickel, lithium, zinc, and mercury are some of the materials that constitute a battery. A few of them are extremely toxic and can pose a danger both to the external environment and human health. This has led to various governments framing rules pertaining to recycling of batteries to contain their fallout. “Both not-for-profit as well as profit making companies are partnering with automobile manufacturers for recycling of batteries,” adds the lead analyst of our market research study.

Request to view Sample Report:

Thrust on Pollution Control Benefits Demand

Mandates and rules pertaining to the disposal and recycling of used batteries vary from nation to nation. Internationally, increasing number of directives from governments to bring down pollution and cut down greenhouse gas emissions has also proved a boon for the global battery recycling market.

A trend that has proved particularly beneficial to the global market for battery recycling is the increasing supplanting of old automobiles with new ones on account of more capacity of people to splurge on better products.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Sodium Cocoyl Isethionate Market to Undertake Strapping Growth During 2026

The global sodium cocoyl isethionate market was valued at US$ 137.8 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Sodium Cocoyl Isethionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). Rise in consumer preference for sulfate-free skin friendly products is likely to propel the demand for sodium cocoyl isethionate during the forecast period. Read Report Overview @ https://www.transparencymarketresearch.com/sodium-cocoyl-isethionate-market-2018-2026.html Increase in Demand for Sulfate-free Formulations in Personal Care Products to Drive Market Sodium cocoyl isethionate is a mild surfactant that offers excellent detergent properties. It is mild on the skin and leaves a soft after-feel. Extensive usage of sodium cocoyl isethionate as mild surfactant in hair care and skin care products has created oppor...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Tattoo Inks Market to Undertake Strapping Growth During 2026

Submitted 1 sec ago by  TMR Market research . The global tattoo inks market was valued at US$ 122.25 Mn in 2017. It is anticipated to expand at a CAGR of 5.55% from 2018 to 2026, according to a new research report titled ‘Tattoo Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global tattoo inks market is driven by rise in the popularity of tattoos among youngsters worldwide. In terms of demand, North America accounts for a dominant share of the global tattoo inks market. Read Report Overview @ https://www.transparencymarketresearch.com/tattoo-inks-market.html Rise in Demand for Tattoos among Youngsters to Boost Market Tattooing is an increasing fashion phenomenon that has attracted more than 100 million young adults across the globe to date. According to the Council of Europe, one in five individuals in the U.K. is tattooed. The figure rises to one in thre...
Keep reading