Battery Recycling Market is Forecasted to Reach a Value of US $34.65 Billion by 2029

Battery Recycling Global Market Report 2025

The Business Research Company's Battery Recycling Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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What Is The Expected Cagr For The Battery Recycling Market Through 2025?
The dimension of the battery recycling market has experienced a swift expansion in the previous years. The market is projected to surge from $19.56 billion in 2024 to $21.66 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%. The historic expansion can be credited to the escalation in electronic waste alongside the requirement for its appropriate discarding, the amplified incorporation of rechargeable batteries in customer electronics, the augmentation of the electric vehicle industry, rigorous environmental ordinances advocating recycling customs, and the realization of the limited availability of metal resources.

The size of the battery recycling market is predicted to expand swiftly in the upcoming years, ballooning to $34.65 billion by 2029, with a compound annual growth rate (CAGR) of 12.5%. This increase during the predicted period is due to factors such as the emphasis on sustainable practices, battery recycling encouragement through government policies and incentives, the surge in energy storage solution needs, heightened consumer awareness and a preference for environmentally friendly products, as well as a burgeoning focus on a circular economy and a closed-loop supply chain. During the forecast period, significant trends will include attention on developing creative business models for battery recycling, progress in battery recycling technology, increased industry cooperation, the incorporation of blockchain technology for clear and accountable battery recycling, and investigation into urban mining for the collection of valuable materials from expended batteries.

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What Are The Driving Factors Impacting The Battery Recycling Market?
The proliferation of electric vehicles is projected to spur the expansion of the battery recycling market in the upcoming years. Electric vehicles (EV), which are either wholly or partially powered by electricity, have become increasingly prominent. Recycling the batteries of these vehicles, which can be costly to discard due to their valuable materials, offers a chance to minimize life-cycle expenses. It enables the extraction of high-value materials and helps to sidestep the cost of disposing hazardous waste. The market has witnessed an increase in the number of lithium-ion batteries due to rising EV sales. The finite lifespan of these batteries necessitates a practical recycling method to balance domestic material supplies for battery manufacturing, reduce the need for raw materials, and decrease supply chain disruptions caused by political instability. After a lifespan of 5-8 years, these batteries may fail to power EVs effectively, but can still be used in lower-grade applications such as household use, energy backups, renewable energy storage, and off-peak energy storage. The process of recycling EV batteries aids in recovering metals such as cobalt, lithium, and nickel, which can subsequently be used in the production of new batteries, thereby conserving resources and reducing manufacturing costs. As per the International Energy Agency, it is predicted that global electric vehicle sales will reach 125 million by 2030. Hence, the rising prevalence of electric vehicles is further stimulating the growth of the battery recycling market.

Which Players Dominate The Battery Recycling Industry Landscape?
Major players in the Battery Recycling include:

• Li-Cycle Holdings Corp.

• Battery Solutions LLC

• Exide Industries Ltd.

• Umicore NV/SA

• Aqua Metals Inc.

• Gravita India Limited

• East Penn Manufacturing Company

• ENERSYS Corp.

• Fortum Oyj

• Accurec Recycling GmbH

What Are The Future Trends Of The Battery Recycling Market?
Leading businesses in the battery recycling market are forming strategic partnerships to boost knowledge and increase the efficiency of battery recycling. For instance, Redwood Materials, a sustainable battery material developer from the US, joined forces with Volkswagen Group of America, an automobile company also based in the US, in July 2022. The purpose of this alliance is to recycle all the end-of-life batteries from Volkswagen and Audi's electric vehicles. Redwood will work with Volkswagen Group of America's network, which includes over 1,000 dealers, to collect, safely package, transport, and recycle EV battery packs from Volkswagen and Audi vehicles upon completion of their lifecycle.

Global Battery Recycling Market Segmentation By Type, Application, And Region
The battery recycling market covered in this report is segmented –
1) By Type: Lead-Acid Battery, Nickel-Based Battery, Lithium-Based Battery, Other Battery Types
2) By Processing State: Extraction Of Material, Reuse, Repackaging And Second Life, Disposal
3) By Application: Automotive, Consumer Electronics, Industrial, Other Applications

Subsegments:
1) By Lead-Acid Battery: SLI (Starting, Lighting, Ignition) Batteries, Deep Cycle Batteries, Valve-Regulated Lead-Acid (VRLA) Batteries
2) By Nickel-Based Battery: Nickel-Cadmium (NiCd) Batteries, Nickel-Metal Hydride (NiMH) Batteries
3) By Lithium-Based Battery: Lithium-Ion Batteries, Lithium Polymer Batteries
4) By Other Battery Types: Zinc-Carbon Batteries, Alkaline Batteries, Silver-Zinc Batteries

View the full battery recycling market report:
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Which Region Holds The Largest Market Share In The Battery Recycling Market?
In 2024, North America led the battery recycling market. Its growth projection is included in the given report. The report encompasses several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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