New York, USA, Dec. 03, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global battery recycling market valued for $1,222.3 million by 2026, exhibiting a CAGR of 8.9% over the forecast period from 2019 to 2026. The global market is segmented on the basis of type, end user, and region. The report offers detailed insights on drivers, opportunities, restraints, challenges, and key players of the market.
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Europe is predicted to account for a majority of market share in the global battery recycling market by 2026, majorly owing to the initiatives taken by various government bodies to protect the environment. For instance, United Kingdom, France, Italy, Russia, and Germany are taking initiatives to prevent soil and water contamination, owing to the inflow of toxic and chemical waste dumped by the batteries. On the other hand, the Asia Pacific region is estimated to experience a steady growth throughout the forecast period, owing to a surge in manufacturing of hybrid vehicles in China and India.
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Market Segmentation
• On the basis of type, the global market is segmented into nickel-based battery, lithium-based battery, and lead-acid based battery.
• On the basis of end user, the overall market is categorized into extraction of material, disposal, and reuse, repackaging & second life.
• On the basis of region, the overall market is divided into Asia Pacific, North America, LAMEA, and Europe.
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Major Market Players
• Retriev Technologies, Inc.
• Exide Technologies
• Aqua Metals
• Enersys
• Call2Recycle, Inc.
• Battery Solutions LLC
• G & P Batteries
• Umicore
Further, the report presents and outlines several aspects of these key players such as SWOT analysis, business performance, recent strategic moves & developments, and product portfolio.
Partnerships, acquisitions, and new product launches are some of the growth strategies adopted by these market players to hold a strong position in the global industry. For instance, in January 2020, Call2Recycle and CellBlock Fire Containment Systems entered into a strategic partnership to expand their safe battery collection, transportation, and handling. The aim behind the partnership is to include full range of battery protection solutions to Call2Recycle’s offerings.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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