As per Intent Market Research, the Battery Recycling Market was valued at USD 27.1 billion in 2023-e and will surpass USD 52.1 billion by 2030; growing at a CAGR of 9.8% during 2024 - 2030.

The Battery Recycling Market is an essential segment in the global push towards sustainability and resource efficiency. As the world continues to move toward renewable energy solutions and electric vehicles (EVs), the demand for batteries has surged, leading to a growing focus on their recycling to reduce environmental impact.Battery recycling is becoming increasingly important as the global battery stockpile grows, especially in the wake of the rising demand for electric vehicles, consumer electronics, and renewable energy storage solutions. The market’s growth is also influenced by stringent environmental regulations, advancements in recycling technology, and the need for a sustainable supply of critical raw materials. As such, the battery recycling market is expected to witness robust growth in the coming years, benefiting from regulatory initiatives and growing consumer awareness about the need for recycling.

Lithium-ion Battery Recycling Segment is Fastest Growing Owing to the Surge in Electric Vehicle Production

The lithium-ion battery (Li-ion) recycling segment is the fastest-growing within the battery recycling market. This can be attributed to the exponential rise in the use of lithium-ion batteries in electric vehicles (EVs), consumer electronics, and renewable energy storage systems. Lithium-ion batteries are currently the most commonly used type of rechargeable battery, and with the accelerating global shift towards electric mobility, the demand for efficient recycling methods to reclaim valuable materials such as lithium, cobalt, and nickel is expected to increase rapidly.

Li-ion batteries pose unique challenges in the recycling process, as they contain hazardous materials and require sophisticated technology for safe and effective processing. However, advances in recycling technology, including direct recycling and hydrometallurgical processes, are improving the efficiency of recovering valuable materials from spent lithium-ion batteries. The growth of the electric vehicle market, in particular, is driving the expansion of the Li-ion battery recycling segment, as the number of end-of-life batteries continues to rise. This segment is poised for significant growth during the forecast period as the demand for clean, sustainable solutions intensifies.

Lead-acid Battery Recycling Segment is Largest Owing to High Market Penetration and Recycling Rate

The lead-acid battery recycling segment remains the largest within the battery recycling market, primarily due to the widespread use of lead-acid batteries in automotive applications, including for starting, lighting, and ignition (SLI) purposes. Lead-acid batteries are well-established in the market, with a high recycling rate compared to other battery types. This high recycling rate is driven by the ease of recycling lead and its well-established recycling infrastructure. According to estimates, more than 95% of lead-acid batteries are recycled globally, making this segment a key player in the overall battery recycling market.

Lead-acid batteries, although older technology compared to lithium-ion, continue to dominate the market due to their cost-effectiveness, reliability, and extensive use in the automotive sector. The ability to efficiently reclaim lead from these batteries and reuse it in new battery production not only supports the circular economy but also reduces the environmental impact of mining for new lead. As automotive production, particularly in emerging markets, continues to grow, the demand for lead-acid battery recycling is expected to remain robust, ensuring the continued dominance of this segment.

Nickel-based Battery Recycling Segment is Fastest Growing Owing to Expansion of Hybrid Electric Vehicles (HEVs)

The nickel-based battery recycling segment is growing at the fastest rate among all battery types, driven by the increasing use of nickel-metal hydride (NiMH) batteries in hybrid electric vehicles (HEVs). While lithium-ion batteries are dominant in fully electric vehicles (EVs), nickel-based batteries continue to see strong demand in hybrid vehicles, which combine an internal combustion engine with an electric motor. As the adoption of HEVs grows, particularly in markets like Europe and Asia-Pacific, the need for effective recycling of nickel-based batteries is becoming more urgent.

Nickel-metal hydride batteries, while less energy-dense than lithium-ion batteries, offer a more cost-effective and environmentally friendly solution for hybrid vehicles. However, their recycling process is more complex, as it involves the recovery of both nickel and other metals like cobalt and manganese. Technological advancements in recycling methods are improving the efficiency and profitability of nickel-based battery recycling, making this segment a key area of growth within the overall battery recycling market.

Asia Pacific Region is Largest Owing to Dominance in Battery Production and EV Market

The Asia Pacific (APAC) region is the largest market for battery recycling, driven by its dominance in global battery production, the presence of leading electric vehicle manufacturers, and stringent environmental regulations aimed at reducing e-waste. Countries such as China, Japan, and South Korea are major hubs for battery manufacturing and recycling, with China being the largest producer of lithium-ion batteries for electric vehicles. Additionally, APAC is home to some of the largest battery recycling plants, enabling the region to meet both domestic and global demand for recycled materials.

The rise in electric vehicle adoption in countries like China and Japan, coupled with the rapid growth of renewable energy storage systems, is contributing to the increasing volume of spent batteries requiring recycling. China, in particular, has established aggressive targets for battery recycling and the development of a closed-loop recycling system to reclaim critical raw materials from used batteries. As a result, the APAC region is not only the largest market but also the most influential in driving the global battery recycling industry forward.

Europe Region is Fastest Growing Owing to Stringent Regulations and EV Adoption

While Asia Pacific is the largest region, Europe is the fastest-growing market for battery recycling, driven by stringent environmental regulations and the accelerated adoption of electric vehicles. The European Union has implemented several policies aimed at reducing battery waste, such as the EU Battery Directive, which mandates the collection, recycling, and proper disposal of batteries. These regulations, combined with Europe's aggressive push for carbon neutrality and green mobility, are creating a favorable environment for the growth of the battery recycling market.

The European market is also supported by the presence of major automotive manufacturers, many of which are committing to the production of electric vehicles. As the demand for EVs rises in Europe, so does the need for sustainable solutions for battery disposal and recycling. The region is rapidly expanding its recycling infrastructure to handle increasing volumes of spent batteries, with the goal of reducing reliance on raw materials from mining. This growing emphasis on sustainability and circular economy principles is expected to drive the fastest growth in the European battery recycling market.

Leading Companies and Competitive Landscape

The Battery Recycling Market is highly fragmented, with key players spanning across various battery types, including Li-ion, lead-acid, and nickel-based batteries. Some of the leading companies in the market include Umicore, Glencore, SungEel HiTech, Retriev Technologies, Exide Technologies, and Redwood Materials. These companies are investing heavily in advanced recycling technologies to increase the efficiency of battery material recovery and improve the environmental sustainability of the recycling process.

The competitive landscape is driven by technological innovation, with companies focusing on enhancing the efficiency of their recycling processes, reducing costs, and expanding their recycling capacities. Strategic partnerships, joint ventures, and acquisitions are common in the market as companies seek to enhance their capabilities and broaden their market reach. Additionally, the development of new recycling techniques, such as hydrometallurgical and pyrometallurgical methods, is enabling companies to recover more valuable materials from used batteries, further intensifying the competition. As the demand for sustainable battery recycling solutions continues to rise, companies are also focusing on securing long-term supply chains for recycled materials, positioning themselves for future growth in the evolving energy and automotive sectors.

Report Objectives

The report will help you answer some of the most critical questions in the Battery Recycling Market. A few of them are as follows:

  1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
  2. What are the prevailing technology trends in the Battery Recycling Market?
  3. What is the size of the Battery Recycling Market based on segments, sub-segments, and regions?
  4. What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa?
  5. What are the market opportunities for stakeholders after analysing key market trends?
  6. Who are the leading market players and what are their market share and core competencies?
  7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
  8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope:

Report Features

Description

Market Size (2023-e)

USD 27.1 billion

Forecasted Value (2030)

USD 52.1 billion

CAGR (2024-2030)

9.8%

Base Year for Estimation

2023-e

Historic Year

2022

Forecast Period

2024-2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Battery Recycling Market By Source (Automotive, Industrial, Consumer Electronics Battery), By Battery Type (Nickel, Lead Acid, Lithium), By Material (Electrolyte, Metal, Plastic)

Regional Analysis

North America (US, Canada), Europe (Germany, France, UK, Spain, Italy & Rest of Europe), Asia Pacific (China, Japan, South Korea, India, and rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, & Rest of Latin America), Middle East & Africa (Saudi Arabia, South Africa, Turkey, UAE, & Rest of MEA)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1.Introduction

1.1.Market Definition

1.2.Scope of the Study

1.3.Research Assumptions

1.4.Study Limitations

2.   Research Methodology

2.1.Research Approach

2.1.1.Top-Down Method

2.1.2.Bottom-Up Method

2.1.3.Factor Impact Analysis

2.2.Insights & Data Collection Process

2.2.1.Secondary Research

2.2.2.Primary Research

2.3.Data Mining Process

2.3.1.Data Analysis

2.3.2.Data Validation and Revalidation

2.3.3.Data Triangulation

3.   Executive Summary

3.1.Major Markets & Segments

3.2.Highest Growing Regions and Respective Countries

3.3.Impact of Growth Drivers & Inhibitors

3.4.Regulatory Overview by Country 

4.   Battery Recycling Market, by Material (Market Size & Forecast: USD Billion, 2024 – 2030)

4.1.Plastic

4.2.Electrolyte

4.3.Metal

4.4.Other

5.   Battery Recycling Market, by Source (Market Size & Forecast: USD Billion, 2024 – 2030)

5.1.Industrial Battery

5.2.Automotive Battery

5.3.Consumer Electronics Battery

6.   Battery Recycling Market, by Battery Type (Market Size & Forecast: USD Billion, 2024 – 2030)

6.1.Nickel

6.2.Lead Acid

6.3.Lithium

6.4.Other

7.   Regional Analysis (Market Size & Forecast: USD Billion, 2024 – 2030)

7.1.Regional Overview

7.2.North America

7.2.1.Regional Trends & Growth Drivers

7.2.2.Barriers & Challenges

7.2.3.Opportunities

7.2.4.Factor Impact Analysis

7.2.5.Technology Trends

7.2.6.North America Battery Recycling Market, by Material

7.2.7.North America Battery Recycling Market, by Source

7.2.8.North America Battery Recycling Market, by Battery Type

               *Similar Segmentation will be provided at each regional level

7.3.By Country

7.3.1.US

7.3.1.1.US Battery Recycling Market, by Material

7.3.1.2.US Battery Recycling Market, by Source

7.3.1.3.US Battery Recycling Market, by Battery Type

7.3.2.Canada

                        *Similar Segmentation will be provided at each country level

7.4.Europe

7.5.APAC

7.6.Latin America

7.7.Middle East & Africa

8.   Competitive Landscape

8.1.Overview of the Key Players

8.2.Competitive Ecosystem

8.2.1.Platform Manufacturers

8.2.2.Subsystem Manufacturers

8.2.3.Service Providers

8.2.4.Software Providers

8.3.Company Share Analysis

8.4.Company Benchmarking Matrix

8.4.1.Strategic Overview

8.4.2.Product Innovations

8.5.Start-up Ecosystem

8.6.Strategic Competitive Insights/ Customer Imperatives

8.7.ESG Matrix/ Sustainability Matrix

8.8.Manufacturing Network

8.8.1.Locations

8.8.2.Supply Chain and Logistics

8.8.3.Product Flexibility/Customization

8.8.4.Digital Transformation and Connectivity

8.8.5.Environmental and Regulatory Compliance

8.9.Technology Readiness Level Matrix

8.10.Technology Maturity Curve

8.11.Buying Criteria

9.Company Profiles

9.1.EnerSys

9.1.1.Company Overview

9.1.2.Company Financials

9.1.3.Product/Service Portfolio

9.1.4.Recent Developments

9.1.5.IMR Analysis

*Similar information will be provided for other companies 

9.2.Exide

9.3.TES

9.4.Li-Cycle

9.5.Cirba Solutions

9.6.Fortum

9.7.Aqua Metals

9.8.Neometals

9.9.Umicore

9.10.Terrapure

10.Appendix

 

A comprehensive market research approach was employed to gather and analyse data on the Battery Recycling Market. In the process, the analysis was also done to estimate the parent market and relevant adjacencies to major the impact of them on the Battery Recycling Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -Battery Recycling Market

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the automotive sensors ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Estimation

A combination of top-down and bottom-up approaches was utilized to estimate the overall size of the Battery Recycling Market. These methods were also employed to estimate the size of various subsegments within the market. The market size estimation methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - Battery Recycling Market

Data Triangulation

To ensure the accuracy and reliability of the market size estimates, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size estimates.

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