Battery Scrap Market Size to Grow USD 83.7 Billion by 2032 at a CAGR of 9.1% | Valuates Reports
BANGALORE, India, April 10, 2024 /PRNewswire/ -- Battery Scrap Market is Segmented by Product type (Lead Acid, Lithium Ion, Others), By Source (Electric Vehicles, Consumer Electronics, Power Tools, Others), By End-use (Material Extraction, Reuse, Disposal, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Global Battery Scrap Market was valued at USD 35.2 Billion in 2022, and is projected to reach USD 83.7 Billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.
Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Auto-2T642/Battery_Scrap_Market
Major Factors Driving the Growth of Battery Scrap Market
The need for recycled batteries is rising due to environmental consciousness, strict laws, the spread of electronic gadgets, and the popularity of electric cars. These factors are the main drivers of the expansion of the battery scrap market. The market is expected to grow even more as a result of technological developments in recycling procedures and rising demand for the raw materials used in battery manufacturing.
The market for battery scrap is growing as a result of investments in recycling infrastructure, government incentives, circular economy initiatives, growing use of electric cars, and cooperative efforts among stakeholders.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-2T642/battery-scrap
TRENDS INFLUENCING THE GROWTH OF BATTERY SCRAP MARKET:
The Battery Scrap Market is expanding rapidly as a result of the rising need for battery recycling. The number of batteries that are approaching the end of their life cycle is rising due to the widespread use of electronic gadgets and electric vehicles (EVs). This generates a large amount of battery scrap, which increases the demand for effective recycling procedures. The market for battery waste is expanding as a result of companies' increased emphasis on sustainable practices and stricter restrictions in response to growing environmental concerns. Additionally, the development of recycling technology is a major factor in the market expansion for battery scrap. The extraction of precious metals from battery scrap is made more efficient by innovations like pyrometallurgical and hydrometallurgical techniques.
The market for battery trash is significantly influenced by the growing need for raw materials used in the manufacturing of batteries. Critical metals like lithium, cobalt, and nickel are needed for lithium-ion batteries in particular, and they can be found in mined ores. Recycling used batteries reduces dependency on virgin resources and lessens the negative environmental effects of mining. It is a sustainable alternative to mining. The market for battery trash is boosted by this steady supply of raw materials, which makes recycling batteries more appealing.
The laws and policies of the government have a significant impact on how the battery scrap market is shaped. To reduce environmental risks and save resources, some nations have enacted strict laws requiring battery recycling. Incentives including grants, tax credits, and subsidies are also offered to promote investment in battery recycling infrastructure. These regulations encourage investment in sustainable practices and compliance, which in turn creates a favorable climate for market expansion. The market for battery scrap is expanding as a result of circular economy activities. A circular economy model encourages recycling and repurposing in order to reduce waste and increase the value of resources.
One of the main drivers of the battery trash business is the increasing ubiquity of electric vehicles (EVs). Because EV batteries have a limited lifespan, when cars approach the end of their useful lives, a significant amount of battery garbage is produced. It is essential to find efficient EV battery recycling solutions in order to promote the industry's sustainable growth. The EV ecosystem is strengthened by battery recycling, which not only makes it easier to dispose of expended EV batteries but also increases the amount of recycled materials available for use in new battery production.
Own It Today – Buy Now! https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-2T642&lic=single-user
BATTERY SCRAP MARKET SHARE
With about half of the worldwide battery scrap market share in terms of revenue in 2022, the lithium-ion segment led the market based on product type and is expected to continue leading during the forecast period. Because of its high energy density and ability to be recharged, lithium-ion batteries find extensive application in a wide range of fields, such as consumer electronics, electric vehicles (EVs), renewable energy storage systems, and portable gadgets.
The electric vehicle sector accounted for roughly three-fifths of the worldwide battery scrap market size in terms of revenue in 2022 and is expected to continue leading the market for the duration of the forecast period. The primary way that electric vehicles (EVs) contribute to the battery scrap market is by exchanging their lithium-ion batteries. The battery scrap business is greatly impacted by the recycling and reuse of these spent EV batteries, which is essential for environmental sustainability, resource conservation, and the ethical expansion of the electric car market.
With over half of the worldwide market revenue in 2022, Asia-Pacific had the largest revenue share and is expected to lead the forecast for the battery scrap market. The adoption of electric vehicles has been leading the Asia-Pacific region, with China leading the world in EV sales. As a result, efforts to recycle EV batteries in order to recover important elements like nickel, cobalt, and lithium have increased. The aforementioned elements will present market development prospects for battery scrap.
Purchase Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-2T642/Battery_Scrap_Market
Key Companies:
- Li-Cycle
- ECOBAT
- Sunlight Group
- Umicore
- Gravita India Ltd.
- Aqua Metals, Inc
- Exide Industries Ltd.
- Engitec Technologies SpA
- Husky Battery Solutions Ltd.
- Guangdong Brunp recycling Technology Co., Ltd.
Purchase Chapters: https://reports.valuates.com/request/chaptercost/ALLI-Auto-2T642/Battery_Scrap_Market
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Nickel Scrap market was valued at USD 2404.2 Million in 2023 and is anticipated to reach USD 2831.7 Million by 2030, witnessing a CAGR of 2.4% during the forecast period 2024-2030.
- Lead-acid Battery Scrap market was valued at USD 6890.9 Million in 2023 and is anticipated to reach USD 10450 Million by 2030, witnessing a CAGR of 5.7% during the forecast period 2024-2030.
- Cobalt Scrap Recycling Market
- Printed Circuit Board (PCB) E-scrap Recycling market is projected to grow from USD 605.1 Million in 2023 to USD 933.9 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period.
- Intelligent Steel Scrap Grading System Market
- Rotating Sludge Scraper Market
- Scraped Surface Heat Exchangers Market
- Non-ferrous Scrap Recycling Market revenue was USD 115310 Million in 2022 and is forecast to a readjusted size of USD 149150 Million by 2029 with a CAGR of 3.7% during the review period (2023-2029).
- Anode Scrap Washing Machine Market
- Robotic Manure Scraper Market
- Metal Machining Scrap Equipment Market
- Self-Propelled Floor Scraper market is projected to reach USD 111 Million in 2029, increasing from USD 85 Million in 2022, with the CAGR of 4.1% during the period of 2023 to 2029.
- Non-Ferrous Scrap Market revenue was USD 98130 Million in 2022 and is forecast to a readjusted size of USD 118510 Million by 2029 with a CAGR of 2.7% during the review period (2023-2029).
- Titanium Scrap Market revenue was USD 865.2 Million in 2022 and is forecast to a readjusted size of USD 1578.3 Million by 2029 with a CAGR of 8.6% during the forecast period (2023-2029).
- Scraper Heat Exchangers market is projected to reach USD 446.6 Million in 2029, increasing from USD 311.1 Million in 2022, with a CAGR of 5.3% during the period of 2023 to 2029.
- Automatic Floor Scraper Market
- Non Ferrous Scrap Metal Sorting Equipment Market
- Data Extraction Service Market
- Scraped Surface Heat Exchanger for Food Market
- Web Scraper Software market was valued at USD 2752 Million in 2023 and is anticipated to reach USD 7463.6 Million by 2030, witnessing a CAGR of 15.0% during the forecast period 2024-2030.
- Copper Scrap market size is estimated to be worth USD 65950 Million in 2022 and is forecast to a readjusted size of USD 84900 Million by 2028 with a CAGR of 4.3% during the review period.
- The Web Scraping Tools market is projected to reach USD 7463.6 Million in 2029, increasing from USD 2752 Million in 2022, with a CAGR of 15.0% during the period of 2023 to 2029.
- Magnesium Alloy Recycling Market
- Prepaid Battery Recycling Market
- Metal Waste and Recycling Market revenue was USD 264130 Million in 2022 and is forecast to a readjusted size of USD 390370 Million by 2029 with a CAGR of 5.6% during the forecast period (2023-2029).
- Non-Ferrous Scrap market was valued at USD 101000 Million in 2022 and is anticipated to reach USD 118510 Million by 2029, witnessing a CAGR of 2.7% during the forecast period 2023-2029.
- Metal Waste and Recycling market was valued at USD 264130 Million in 2023 and is anticipated to reach USD 390370 Million by 2030, witnessing a CAGR of 5.6% during the forecast period 2024-2030.
- Silicon Anode Powders for Li-ion Battery Market
- Lead Acid Car Battery Recycling Market
- Electric Vehicle Battery Trays Market
- HNBR for Lithium Battery Separators Market
- Battery-powered LoRaWAN GPS Tracker Market
- Lithium Ion Battery Separators market was valued at USD 2904 Million in 2023 and is anticipated to reach USD 3612.1 Million by 2030, witnessing a CAGR of 3.1% during the forecast period 2024-2030.
- Aluminum Laminated Film for Li-Ion Pouch Battery Market
- The global battery recycling market size was valued at USD 11.1 Billion in 2020, and is expected to reach USD 66.6 Billion by 2030, registering a CAGR of 19.5% from 2021 to 2030.
- Residential Energy Storage Lithium-ion Battery market is projected to grow from USD 5500 Million in 2023 to USD 130620 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 69.5% during the forecast period.
- High Purity Boehmite for Li-ion Battery Market revenue was USD 156.2 Million in 2022 and is forecast to a readjusted size of USD 1090.5 Million by 2029 with a CAGR of 29.9% during the forecast period (2023-2029).
- Secondary Battery Manufacturing Equipment Market
- EV Battery Thermal Management Material Market
- Lithium Battery Pole Piece Coating Machine Market
- 18650 Lithium Battery market size is estimated to be worth USD 5374 Million in 2022 and is forecast to a readjusted size of USD 4691 Million by 2029 with a CAGR of -1.9% during the forecast period 2023-2029.
- Automatic Lithium Battery Wrapping Machine Market
- Automotive Battery Management System Market revenue was USD 2869.1 Million in 2022 and is forecast to a readjusted size of USD 12630 Million by 2029 with a CAGR of 22.3% during the forecast period (2023-2029).
- Hard Carbon for Na-ion Battery Market
- Lithium Ion Battery Testing System Market
- The global EV Battery Disconnect Unit (BDU) market was valued at USD 1625 Million in 2023 and is anticipated to reach USD 6703.7 Million by 2030, witnessing a CAGR of 21.0% during the forecast period 2024-2030.
- Aluminum Foil for Lithium-ion Battery Cathode Materials Market
- PVDF Binder for Battery market was valued at USD 350 Million in 2023 and is anticipated to reach USD 1716.6 Million by 2030, witnessing a CAGR of 25.2% during the forecast period 2024-2030.
DISCOVER OUR VISION: VISIT ABOUT US!
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatesreports/
Twitter: https://twitter.com/valuatesreports
Facebook: https://www.facebook.com/valuatesreports/
https://www.facebook.com/valuateskorean
https://www.facebook.com/valuatesspanish
https://www.facebook.com/valuatesjapanese
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article