Market Introduction
The Europe battery recycling market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The surge in demand for lithium-ion batteries across consumer electronics, electric vehicles, and grid electrical storage, has increased the need for critical materials including cobalt, lithium, and graphite. With the steady growth in the demand for lithium-ion batteries, the focus has been shifted upon resource activation with the help of recycling. There is a rising need to incorporate advanced technology to promote resource efficiency, along with an economically feasible recycling system for lithium-ion batteries, to maintain the future supply of the component materials. At present, the focus of the research has been shifted toward recovering as many materials as possible while recycling a Li-ion battery, to promote environmental and economic sustainability. As per an article published by the American Chemical Society, in July 2019, researchers in the UK formed a large consortium that was committed to improving Li-ion battery recycling, recovering specifically from electric vehicles. Further, researchers are currently focusing their efforts to develop designs and materials related to lithium-ion batteries, which can effectively ease the future recovery of the batteries.
In Europe, the ongoing pandemic has drastically altered the status of the electronics sector and negatively impacted the growth of the battery recycling market. The operations of several industries such as electronics, automotive, power, and others have been impacted during the pandemic, which has, in turn, impacted the delivery cycle and increased import-export tariff of recycled batteries. The market has been impacted by the distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international borders. Disruptions in terms of sourcing of raw materials from suppliers and temporary closure of manufacturing bases due to lockdowns and quarantines have impacted the growth of the market during the pandemic. However, as the economies are planning to revive their operations, the demand for battery recycling is expected to rise in Europe. The expanding demand for battery recycling across automotive, industrial, household, consumer electronics, and other industries, along with significant investment by prominent manufacturers, is expected to drive the growth of the battery recycling market.
Market Overview and Dynamics
The battery recycling market in Europe is expected to grow from US$ 2,753.11 million in 2021 to US$ 6,756.00 million by 2028; it is estimated to grow at a CAGR of 13.7% from 2021 to 2028. A relevant draft law is currently being discussed in the EU Parliament which includes a 95% recycling quota for both alkaline single-use batteries and rechargeable NiCad cells by 2030. Thus, increased adoption of electric vehicles, along with proposed regulations from the European Union Commission, is driving the battery recycling market in Europe. The increase in demand for consumer electronic batteries in Europe is also boosting the need for the recycling of batteries. Low cost and wide application across consumer electronics, including flashlights, calculators, clocks, and smoke alarms, coupled with increasing sales of consumer electronics in the region, are increasing the demand for consumer electronics batteries. This will lead to a requirement of efficient battery management practices, and there will be an increase in demand for the recycling of such consumer electronic batteries. This, in turn, will drive the battery recycling market in Europe.
Key Market Segments
Based on type, the lead acid battery segment accounted for the largest share of the Europe battery recycling market in 2020. Based on battery source, the consumer electronics segment accounted for the largest share of the Europe battery recycling market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe battery recycling market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Clarios; Contemporary Amperex Technology Co. Limited; East Penn Manufacturing Company; Exide Industries Limited; G P Batteries International Limited; and Gopher Resource.
Reasons to buy report
Europe Battery Recycling Market Segmentation
Europe Battery Recycling Market -By Type
Europe Battery Recycling Market -By Battery Source
Europe Battery Recycling Market – By Country
Europe Battery Recycling Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,753.11 Million |
| Market Size by 2028 | US$ 6,756.00 Million |
| CAGR (2021 - 2028) | 13.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Battery Recycling Market is valued at US$ 2,753.11 Million in 2021, it is projected to reach US$ 6,756.00 Million by 2028.
As per our report Europe Battery Recycling Market, the market size is valued at US$ 2,753.11 Million in 2021, projecting it to reach US$ 6,756.00 Million by 2028. This translates to a CAGR of approximately 13.7% during the forecast period.
The Europe Battery Recycling Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Battery Recycling Market report:
The Europe Battery Recycling Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Battery Recycling Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Battery Recycling Market value chain can benefit from the information contained in a comprehensive market report.
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