Transportation Battery Recycling Market to Generate $9.95 Billion by 2030: Allied Market Research

·5 min read
Allied Market Research
Allied Market Research

Rising popularity of portable electronics and grid-scale energy storage are the main factors driving revenue growth of the global transportation battery recycling market. Based on region, Europe held the largest share in 2021, contributing to more than one-third of the total market share. Due to quick spread of COVID-19, the establishment of new transportation battery recycling projects was hampered due to the global economic recession.

Portland, OR, Aug. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global transportation battery recycling market garnered $4.75 billion in 2021, and is estimated to generate $9.95 billion by 2030, manifesting a CAGR of 8.2% from 2022 to 2030. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2022­–2030

Base Year

2021

Market Size in 2021

$4.75 billion

Market Size in 2030

$9.95 billion

CAGR

8.2%

No. of Pages in Report

270

Segments covered

Chemistry, Sources, and Region.

Drivers

Rising popularity of portable electronics

Grid-scale energy storage

Opportunities

Rise in demand for electric and hybrid vehicles

Restraints

Presence of heavy metals such as mercury and lead

Covid-19 Scenario:

  • The automotive industry, among others, has been severely impacted by the COVID-19 pandemic, which has resulted in a dramatic decline in automotive sales. Due to the extensive use of automotive batteries in the automobile industry, demand for recycling transportation batteries substantially reduced.

  • China is the leading producer and exporter of automobile batteries. However, China being the hotspot of the coronavirus, its export trade was affected, leading to a decline in battery production.

  • Economic slowdown has affected the setup of new transportation battery recycling projects across the world as the majority of government funding was diverted toward the healthcare sector owing to the rapid spread of COVID-19. This negatively impacted the market to the great extent.

  • For instance, in June 2021, Accuracy completed the reconstruction of the Krefeld plant, which now has double security storage capacity for lithium batteries and double building capacity. This development emphasizes the company’s growth in the lithium-ion battery recycling market as it contributes to increase in production.

Get detailed COVID-19 Impact Analysis on the Transportation Battery Recycling Market: https://www.alliedmarketresearch.com/request-for-customization/17821?reqfor=covid

The research provides detailed segmentation of the global transportation battery recycling market based on chemistry, sources, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on chemistry, the lead-acid battery segment held the highest share in 2021, accounting for nearly two-thirds of the global transportation battery recycling market, and is expected to continue its leadership status during the forecast period. However, the lithium-ion batteries segment is expected to register the highest CAGR of 8.5% from 2022 to 2030.

Based on sources, the industrial batteries segment accounted for the highest share in 2021, holding more than half of the global transportation battery recycling market, and is expected to continue its leadership status during the forecast period. However, the automotive batteries segment is estimated to grow at the highest CAGR of 8.5% during the forecast period.

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Based on region, Europe held the largest share in 2021, contributing to more than one-third of the total market share, and is projected to maintain its dominant share in terms of revenue in 2030. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.5% during the forecast period. The research also analyzes regions including North America and LAMEA.

Leading market players of the global transportation battery recycling market analyzed in the research 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.

If you have any questions please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/17821

The report provides a detailed analysis of these key players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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