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Global Battery Recycling Market Insight2022-01-26 Comments
Global Battery Recycling Market has witnessed growing treads over the five years. According to the World Knowledge Information (WKI)Global Battery Recycling Market Report 2021, Forecast to 2026. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 15.5% base on WKI regression analysis model.
“With the gradual saturation of the car stock and the increase in replacement demand, the subsidies of various countries for new energy vehicles have gradually increased, which has led to consumers having a higher willingness to replace and lower consumption costs.Therefore, under such replacement demand, the battery recycling business of new energy vehicles represented by electric vehicles will be a huge market.”said Wikky, Senior analyst, Global Automobile Industry Market Research Center in WKI. However, when Battery Recycling market participants are pursuing market share, they also need to consider safety and cleanliness to adapt to the rapid development of the market.
According to WKI Global Battery Recycling Market Research Report：In January 2019, Call2Recycle, Inc. entered into a partnership with CellBlock Fire Containment Systems (US) to expand its safe battery collection, handling, and transportation. The partnership enhanced Call2Recycle, Inc.’s offerings to include a complete range of battery protection solutions, including fire suppression pillows and blankets, consumer mail-back solutions, hazardous material drums, and damaged lithium-based battery kits. This partnership led to the ease in battery collection for Call2Recycle, Inc.Under such circumstances,although the Battery Recycling industry is greatly affected by COVID-19, it is under the rapid advancement of new energy vehicles , Battery Recycling are expected to rebound rapidly.
The global battery recycling industry can be divided into Lead-acid battery and Lithium Cell by battery type.Divided by enterprise, the major companies profiles in the battery recyling market share include ACCUREC Recycling GmbH，American Manganese Inc，Battery Solutions etc.Moreover, the Lithium Cell recycling giant also occupy a huge share of the Battery Recycling market. With the continuous increase in sales of new energy vehicles, battery recycling companies have accelerated the construction of battery recycling production lines.
Segmentation of Battery Recycling Market:
The global Battery Recycling market is segmented on the basis of materials. By materials, it is divided into Lead-acid battery and Lithium Cell.Both lead-acid batteries and lithium batteries can be recycled and used, lead-acid batteries can be reloaded into transport trucks as a source of power. Lithium Cell can be recycled to extract lithium and nickel, the extracted materials can be used to recreate lithium batteries.
Battery Recycling Market: Regional Analysis
In terms of geography, the Global Battery Recycling market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is estimated to be the largest Battery Recycling Market.Asia-Pacific is projected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the improving socio-economic conditions in emerging economies such as China and India. The growth in population in these countries has resulted in an increased vehicle production and sales. This has resulted in increased demand for Battery Recycling.