The global transportation battery recycling market size was US$ 4.1 billion in 2021. The global transportation battery recycling market is expected to grow to US$ 9.1 billion by 2030, registering a compound annual growth rate (CAGR) of 10.1% during the study period, i.e., 2022-2030.
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Factors Influencing the Market
The increasing popularity of portable electronics, grid-scale energy storage, and electric vehicles around the world are the primary factors driving revenue growth in the global transportation battery recycling market. Fossil fuels are naturally occurring fuels that find applications in automobiles with combustion engines. Because of high demand and limited supply, the prices of these fuels have risen. EVs that recycle batteries are a better alternative to these vehicles. Thus, the rapidly increasing price of fossil fuels is driving people towards electric and hybrid vehicles. As a result, the demand for transportation battery recycling is expected to increase in the coming years.
Other factors like rising manufacturing of EVs, decreasing component prices, and the adoption of technologies to increase battery capacity will drive the market growth. For example, Battery Resources, the renowned commercial lithium-ion battery recycler, intends to construct a 154,000-square-foot recycling facility in the United States in August 2022. It is expected to be one of the largest recycling facilities in North America, which will recycle 30,000 metric tonnes of lithium-ion batteries per year. Thus, such advancements are expected to drive the growth of the transportation battery recycling market during the analysis period.
Competitors in the Market
Call2Recycle, Inc.
battery solutions, LLC
ECOBAT Logistics
Gopher Resource
Contemporary Amperex Technology Co., Limited
EnerSys
GEM Co., Ltd.
Fortum
Aqua Metals, Inc.
Umicore
Other Prominent Players
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The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Transportation Battery Recycling industry experienced notable growth in its workforce. Starting in January, employment within the Transportation Battery Recycling sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Transportation Battery Recycling output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Transportation Battery Recycling output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Transportation Battery Recycling market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Transportation Battery Recycling market.
Market Segmentation
The global transportation battery recycling market segmentation focuses on Chemistry, Source, and Region.
By Chemistry
Lead-Acid Battery
Lithium-Based Battery
Nickel-Based Battery
Others
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By Source
Automotive Batteries
Industrial Batteries
Consumer and Electronic Appliance Batteries
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Transportation Battery Recycling Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Transportation Battery Recycling Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Transportation Battery Recycling Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Transportation Battery Recycling Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Transportation Battery Recycling market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Transportation Battery Recycling market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Transportation Battery Recycling business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
* Assisting businesses in gauging the viability of new or existing products or services.
* Facilitating business enterprises in the identification and cultivation of novel market segments.
* Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
* Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
* Analyzing market trends to aid businesses in devising adaptive strategies.
* Guiding businesses in the optimal placement of their products.
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