LONDON–(BUSINESS WIRE)–The global battery recycling market is expected to grow at a CAGR of over 9% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
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Most of the global lithium reserves are concentrated in South American countries such as Argentina, Bolivia, and Chile. The sparse availability of raw materials and the unsteadiness of governments in these regions have significantly affected the supply of lithium. Also, the growing demand for lithium in various industries such as automotive, pharmaceuticals, construction, glass, and ceramic has increased the pressure on lithium suppliers. Hence, significant investments are being made in the development of lithium deposits worldwide. This increase in the demand for lithium is expected to increase the requirement for lithium battery recycling processes and consequently drive the growth of the market during the forecast period.
Battery Recycling Market: COVID-19 Impact Analysis on Related Markets
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Battery Recycling Market: COVID-19 Impact Analysis on Parent Market
The global environmental & facilities services market is the parent market of the battery recycling market. Within its scope, the environmental & facilities services market covers service companies providing environmental and facilities maintenance services, including waste management, facilities management, and pollution control services. Our report on the battery recycling market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Accurec Recycling GmbH, Aqua Metals Inc., Battery Solutions Inc., Call2Recycle Inc., Vinton Batteries Limited, Umicore S. A, Gravita India Limited, Recupyl S. A. S, Johnson Controls Inc., COM2 Recycling Solutions, The Doe Run Resources Corporation, and Exide Technologies.
Technavio’s research report on the battery recycling market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall environmental & facilities services market.
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Battery Recycling Market: Segmentation Analysis
The global battery recycling market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the battery recycling market. The market is segmented as follows:
- Solid and hazardous waste services
- Remediation services
- Facility management services
- North America (NA)
- South America (SA)
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the battery recycling market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the environmental & facilities services market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
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