Global Battery Recycling Market: Awareness for Energy Conservation Technologies to Increase, Reports TMR

Key player operating in the global battery recycling market are currently focusing on mergers and acquisitions with the startups. Some of the prominent players in the global battery recycling market are Battery Solutions LLC, East Penn Manufacturing Company, Exide Technologies, Gravita India Ltd., Retriev Technologies Inc., and Johnson Controls, Inc. Recently in 2012, PowerGenix and EnerSys partnered with each other to produce recyclable and rechargeable nickel-zinc batteries. In February 2016, Call2Recycle merged with Battery Solutions LLC to start a batter sorting business in the United States. This amalgamation created opportunities to improve the efficiency to manage waste batteries. Transparency Market Research (TMR), in its new report, states that growing partnerships and acquisitions will be one of the primary factors for the growth of the global battery recycling market.

The global battery recycling market is expected to reach US$ 19.9 bn by 2024. Based on battery chemistry, the lead acid segment is predicted to grow at a 45.65% CAGR from 2014 to 2024. The Nickel cadmium segment is predicted to be the second largest battery chemistry segment, flowed by the lithium ion segment.

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Advent of Energy Conservation Technologies to Propel Europe Battery Recycling Market

Europe has been leading the global battery recycling market since 2014 and will continue to maintain its dominance throughout the forecast period. Companies operating in Europe have been focusing on introducing battery conservation technologies. The awareness for battery conservation has been increasing in this region, which is why Europe is expected to capture 37.95% of the global battery recycling market by 2024. By end use, extraction material segment is predicted to account for 48.69% of the global battery recycling market by 2024. By spent battery source, the global market was led by the automotive segment. This segment is predicted to account for 48.02% of the global battery recycling market, to maintain its dominance by 2024.

Environmental Hazards of Used Batteries to Boost Battery Recycling

Materials such as cadmium, manganese, zinc, lead, mercury, and nickel are used to manufacture batteries. “Some of the materials are harmful to the environment and human health, which is a key factor boosting the demand for battery recycling procedures,” states a TMR analyst. Battery recycling minimizes the cost of using raw materials, which is another factor contributing to the growth of the global battery recycling market.

Low Awareness About Recycling Batteries to Hamper Growth

Although the practice of recycling batteries is implemented in the developed nations, it is still new for the developing nations. Battery recycling is only being initiated at the industrial level. It is yet to establish among the companies operating in the automotive sector and electrical appliances. Low awareness of battery recycling is a challenge for companies operating in the global battery recycling market.

Rising Demand for Battery Recycling to Augment Lead Extracting Sector

The lead extracted from battery recycling procedure is recycled and used as a key raw material to manufacture stainless steel and batteries. The rising demand for battery recycling is predicted to augment the lead extracting sector.

The global battery recycling market is segmented as follows:

Battery Recycling Market: By Battery Chemistry

• Lithium Ion
• Lead Acid
• Nickel Cadmium
• Others

Battery Recycling Market: By Spent Battery Source

• Automotive
• Electronic Appliance
• Others

Battery Recycling Market: By End-use

• Extraction of Material
• Repackaging, Reuse, and Second Life
• Disposal

Battery Recycling Gets a Fillip Globally Thanks to Strong Government Support, says TMR

The high level of competition among established battery manufacturers for recycling is indicative of the rising adoption and provision of battery recycling. Transparency Market Research (TMR) observes that although battery recycling is still a niche market, technological advancements and innovations pertaining to the recovery of complex materials have lent this market immense potential. So much so, that despite the requirement of high initial capital investments, new entrants and smaller players have been able to make the most of the opportunity thanks to immense support from environmental institutions and governments.

Apart from focusing on innovation as a growth strategy, companies in the battery recycling market have also been resorting to mergers and acquisitions to expand their businesses and deliver consistent quality products and services to customers. For instance, EnerSys and PowerGenix joined hands in March 2012 to produce highly rechargeable and recyclable nickel-zinc batteries.

In addition to providing significant scope for players in the battery recycling market, the growing trend of recycling batteries provides a major opportunity for those in the lead extraction and reselling market.

Environmental Hazards of Spent Batteries Fueling Action

Batteries are made up of various materials such as cadmium, lead, lithium, mercury, nickel, manganese, and zinc, and quite a few of these are extremely toxic. Used batteries, if not disposed of properly, can result in hazardous health and environmental conditions. Recognizing the critical nature of these batteries and the adverse impact of their disposal in landfills, companies and governments have been compelled to take various initiatives to recycle batteries.

“Battery recycling services are being provided by not-for-profit as well as profit-making organizations by joining hands with several leading automobile manufacturers. This has significantly driven the global market for battery recycling,” the analyst states.

Download the Battery Recycling Industry Fact Sheet by 2024 @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9061

In February 2016, Call2Recycle – a non-profit in the U.S. – collaborated with Battery Solutions LLC to set up a batteries sorting business across the U.S. One of biggest opportunities identified from this partnership was improving the efficiency of managing waste batteries by collaborating with a leader in sorting technologies.

Although the practice of battery recycling has been gaining strength at the industrial level with electronic appliances and automotive companies setting up their own recycling centers, the awareness level of among final consumers continues to remain low. This lack of knowledge about battery recycling is likely to act as a major impediment to the growth of this market.

Lead Acid Batteries Recycled at Substantial Rate

The global market for battery recycling is poised to expand at a strong CAGR of 10.9% during the forecast period. Maintaining this steady pace, the value of this market is anticipated to increase from US$7.1 bn to US$19.9 bn from 2015 to 2024. Based on battery chemistry, lead acid batteries dominate the overall market with a share of nearly 45% in 2014 owing to the fact that these batteries are easy to extract and require less operational excellence. These batteries are also generated on a large scale from the automotive industry.

This review is based on the findings of a TMR report titled “Battery Recycling Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”

Battery Recycling Market: By Battery Chemistry

• Lithium Ion
• Lead Acid
• Nickel Cadmium
• Others

Battery Recycling Market: By Spent Battery Source

• Automotive
• Electronic Appliance
• Others

Battery Recycling Market: By End-use

• Extraction of Material
• Repackaging, Reuse, and Second Life
• Disposal

Battery Recycling Gets a Fillip Globally Thanks to Strong Government Support, says TMR

The high level of competition among established battery manufacturers for recycling is indicative of the rising adoption and provision of battery recycling. Transparency Market Research (TMR) observes that although battery recycling is still a niche market, technological advancements and innovations pertaining to the recovery of complex materials have lent this market immense potential. So much so, that despite the requirement of high initial capital investments, new entrants and smaller players have been able to make the most of the opportunity thanks to immense support from environmental institutions and governments.

Apart from focusing on innovation as a growth strategy, companies in the battery recycling market have also been resorting to mergers and acquisitions to expand their businesses and deliver consistent quality products and services to customers. For instance, EnerSys and PowerGenix joined hands in March 2012 to produce highly rechargeable and recyclable nickel-zinc batteries.

In addition to providing significant scope for players in the battery recycling market, the growing trend of recycling batteries provides a major opportunity for those in the lead extraction and reselling market.

Environmental Hazards of Spent Batteries Fueling Action

Batteries are made up of various materials such as cadmium, lead, lithium, mercury, nickel, manganese, and zinc, and quite a few of these are extremely toxic. Used batteries, if not disposed of properly, can result in hazardous health and environmental conditions. Recognizing the critical nature of these batteries and the adverse impact of their disposal in landfills, companies and governments have been compelled to take various initiatives to recycle batteries.

“Battery recycling services are being provided by not-for-profit as well as profit-making organizations by joining hands with several leading automobile manufacturers. This has significantly driven the global market for battery recycling,” the analyst states.

Download the Battery Recycling Industry Fact Sheet by 2024 @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9061

In February 2016, Call2Recycle – a non-profit in the U.S. – collaborated with Battery Solutions LLC to set up a batteries sorting business across the U.S. One of biggest opportunities identified from this partnership was improving the efficiency of managing waste batteries by collaborating with a leader in sorting technologies.

Although the practice of battery recycling has been gaining strength at the industrial level with electronic appliances and automotive companies setting up their own recycling centers, the awareness level of among final consumers continues to remain low. This lack of knowledge about battery recycling is likely to act as a major impediment to the growth of this market.

Lead Acid Batteries Recycled at Substantial Rate

The global market for battery recycling is poised to expand at a strong CAGR of 10.9% during the forecast period. Maintaining this steady pace, the value of this market is anticipated to increase from US$7.1 bn to US$19.9 bn from 2015 to 2024. Based on battery chemistry, lead acid batteries dominate the overall market with a share of nearly 45% in 2014 owing to the fact that these batteries are easy to extract and require less operational excellence. These batteries are also generated on a large scale from the automotive industry.

This review is based on the findings of a TMR report titled “Battery Recycling Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”

Battery Recycling Market: By Battery Chemistry

• Lithium Ion
• Lead Acid
• Nickel Cadmium
• Others

Battery Recycling Market: By Spent Battery Source

• Automotive
• Electronic Appliance
• Others

Battery Recycling Market: By End-use

• Extraction of Material
• Repackaging, Reuse, and Second Life
• Disposal