Portland, OR, April 28, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global battery recycling market registered $8.0 billion in 2018, and is estimated to reach $18.3 billion by 2026, with a CAGR of 10.9% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.
Higher threat to environment through battery disposal and high recycling rate associated with lead-acid batteries propel the growth of the global battery recycling market. However, focus on lowering cost of lithium-ion battery rather than its recyclability restrain the growth to some extent. Moreover, rapid adoption of electric vehicles is anticipated to create innumerable opportunities in the near future.
The global battery recycling market is segmented into chemistry, source, application, and region. Based on type, the market is divided into lead-acid, lithium-ion, nickel, and others. The lead-acid battery segment accounted for more than two-thirds of the total market revenue in 2018 and is anticipated to lead the trail by 2026. However, the lithium-based battery segment is predicted to register the fastest growth of 11.3% throughout the estimated period.
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Based on application, the market is categorized into transportation, consumer electronics, industrial, and others. The transportation segment held the highest market share contributing to more than two-fifths of the global market, and would maintain its dominance throughout the study period. On the other hand, the industrial segment is estimated to grow at the fastest CAGR of 11.5% from 2019 to 2026.
Based on geography, the market is analyzed across Asia-Pacific, Europe, North America, and LAMEA. The region across Europe held the largest share in 2018, contributing to nearly two-fifths of the total market share. The region is expected to maintain its dominant position throughout the study period. At the same time, the Asia-Pacific region is anticipated to garner the fastest CAGR of 11.4% till 2026.
Key market players analyzed in the research include East Penn Manufacturing Company, Eco-Bat Technologies Ltd, Enersys, Exide Industries Limited, Gopher Resource LLC, Aqua Metals, Inc., Gravita India Limited, Retriev Technologies, Terrapure Environmental, Umicore, and others.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.