The transportation battery recycling market size was valued at $4.75 billion in 2021, and is estimated to reach $9.95 billion by 2030, growing at a CAGR of 8.2% from 2022 to 2030. Over the past ten years, the market for Electric Vehicles (EVs) increased dramatically, partly due to aggressive sales’ goals set globally. Lithium-ion batteries must be carefully discarded at end-of-life to maximize reuse and recycling, which necessitates an effective and secure system for its collection and transportation.
Get a PDF brochure for Industrial Insights and Business
Intelligence @ https://www.alliedmarketresearch.com/request-sample/17821
However, some of the disadvantages of these batteries are
they contain heavy metals such as mercury and lead which are among the
dangerous substances. These batteries retain some of their charge, which raises
possibility of an accidental discharge that might endanger or harm persons as
well as nearby property. Large lithium-based batteries, like those used in
automotive applications, may be mislabeled as lead-acid batteries by regional
battery manufacturers. Due to these problems, state or federal governments
restrict transportation and storage of used batteries.Additionally, some
factors such as the accessibility with which raw materials for fresh batteries
can be obtained, may reduce demand for recycled batteries. The wide variety and
cheap cost of raw materials used in battery manufacturing, such as manganese, cobalt,
nickel, and lithium, results in decreased battery manufacturing costs. The
battery recycling procedure is costly, which may affect the final price of a
recycled battery.
Developments such as manufacturing on a large scale, lower
component prices, and adoption of technologies to boost battery capacity are
factors leading to a decline in prices of lithium-ion batteries. For instance,
in the U.S., Battery Resources is planning to open a 154,000-square-foot
recycling facility in August 2022, which is expected to be among the largest in
North America region. Moreover, it will have capacity to recycle 30,000 metric
tons of lithium-ion batteries per year. These factors are anticipated improve
the transportation battery recycling market share over the coming years.
The global transportation battery recycling market is
segmented based on type, sources, and region. By type, it is classified into
lithium-based battery, lead-acid battery, nickel-based battery, and others. By
sources, it is classified into industrial batteries, automotive batteries,
electronic appliances batteries, and others. By region, the transportation
battery recycling market analysis is done across Europe, North America,
Asia-Pacific, and LAMEA.
The key players profiled in this report include
Call2Recycle, Inc., Battery Solutions, LLC, Exide Technologies, Umicore,
Contemporary Amperex Technology Co., Limited, ENERSYS, GEM Co., Ltd., Johnson
Controls, Fortum, and Aqua Metals, Inc.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/17821
The report offers a comprehensive study of the global
transportation battery recycling market trends by thoroughly studying different
aspects of the market including major segments, market statistics, market
dynamics, regional market outlook, investment opportunities, and top players
working towards growth of the market. The report also sheds light on the
present scenario and upcoming trends & developments that are contributing
to growth of the market. Moreover, restraints and challenges that hold power to
obstruct the market growth are also profiled in the report along with the
Porter’s five forces analysis of the market to elucidate factors such as
competitive landscape, bargaining power of buyers and suppliers, threats of new
players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Transportation Battery
Recycling Industry
- The COVID-19 pandemic has had a severe effect on a number
of businesses, including the automotive industry. The pandemic has caused a
sharp decrease in automotive sales. The need for recycling transportation
batteries decreased significantly due to widespread usage of automotive
batteries in the automotive industry.
- Due to quick spread of COVID-19, the establishment of new transportation
battery recycling projects was hampered due to the global economic recession
- According to, National Center for Biotechnology Information (NCBI) it is a
part of the U.S. National Library and is supported by the U.S. Government,
French automakers will receive around $9 billion in recovery money, primarily
to encourage adoption of electric vehicles. The EV manufacturing sector will
receive around $5.6 billion from Germany's stimulus package.
Key Findings of the Study
- Based on type, the lithium-based battery sub-segment
emerged as the global dominating leader in 2021 and the lead-acid battery
sub-segment is anticipated to be the fastest growing sub-segment during the
forecast period
- Based on sources, the industrial batteries sub-segment emerged as the global
dominating leader in 2021 and the automotive batteries sub-segment is predicted
to show the fastest growth in the upcoming years, which in turn is projected to
propell the transportation battery recycling market growth
- Based on region, the Europe market registered the highest market share in 2021
and is projected to maintain its dominant position during the forecast period.
The Asia-Pacific region is anticipated to be the fastest growing market during
the forecast period.
- The study also provides an in-depth analysis of the transportation battery
recycling market forecast trends.
Procure Complete Report @ https://www.alliedmarketresearch.com/checkout-final/735b3db4cae308469579049a1731570a
About Us
Allied Market Research (AMR) is a full-service market
research and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market Research provides global enterprises as well as
medium and small businesses with unmatched quality “Market Research
Reports” and “Business Intelligence Solutions.” AMR has a targeted view to
provide business insights and consulting to assist its clients to make
strategic business decisions and achieve sustainable growth in their respective
market domains.
David Correa
Allied Analytics LLP
+ 1-800-792-5285
email us here
No comments:
Post a Comment