2020 Furtherance Report: Upcoming Challenges of Battery Recycling market
Pune, New York, USA, November 17 2020 (Wiredrelease) Research Dive –:Battery recycling is referred to the process of collection of batteries through various sources such as automotive, consumer & electronics appliances, and industrial, and reprocessing & reusing them to diminish the waste material produced due to battery scrap. Batteries come with toxic chemicals and many heavy metals. Simple dumping of batteries as waste material has garnered environmental concerns due to contamination of water and soil. Thus, batteries are required to be recycled to meet the terms of health & environment regulations to prevent the damage living beings and the environment. This is the major factor predicted to fuel the growth of the global battery recycling market in the coming years.
Check out How COVID-19 impact on the Battery Recycling Market @ https://www.researchdive.com/connect-to-analyst/11
The global battery recycling market is anticipated to garner $1,222.36 million and rise at a CAGR of 8.9% from 2019 to 2026. The increase in manufacturing of hybrid vehicles and stringent Environmental Protection Agency (EPA) guidelines & government regulations to protect environment are the major factor predicted to boost the growth of the global battery recycling market in the forecast period. However, complications related to recycled batteries such as easily causing fire due to the friction by the aged metals is likely to hinder the market growth in the coming future.
Europe battery recycling market is projected to account for the majority of share in the global industry owing to various measures taken by government bodies to protect environment and the growing competition amongst the key players in the region. Among type segment, the lead-acid battery sub-segment is expected to account for the highest share in the market owing to its high recycling rate across various countries across the globe.
Key Developments in the Global Industry
Some of the key players functioning in the global battery recycling industry include Aqua Metals, Enersys, Umicore, Battery Solutions LLC, Exide Technologies, and Retriev Technologies, Inc. The key industry players are implementing various business tactics & growth strategies such as mergers & acquisitions, partnerships, and business expansion to increase the competitive edge in the overall market. This is subsequently helping the battery recycling market to grow enormously during the forecast period.
Get More Market Insight Information and Download Sample Report of the Battery Recycling Market @ https://www.researchdive.com/download-sample/11
For instance, in February 2017, Aqua Metals entered into a partnership with Johnson Controls International plc by signing a break-through battery recycling technology agreement. Under the partnership, Johnson Controls will supply the batteries for recycling to Aqua Metals and will also purchase the produced refined lead from the company.
In May 2018, Gravita signed a strategic agreement with Amara Raja Batteries Ltd. for the collection and recycling arrangements of lead acid battery scrap. Under this agreement Gravita will collect/purchase the lead-acid battery waste from designated locations of Amara Raja Batteries. The aim of the companies behind this joint agreement is to protect environment.
In February 2019, the Department of Energy (DOE) took an initiative to open new battery recycling plant namely, ‘ReCell’ at the Argonne National Laboratory in Illinois. The company has claimed to have a recycling capacity of about 4 million lithium-batteries, which by recovering valued material from battery will help in cutting the overall production cost.
In January 2020, CellBlock Fire Containment Systems and Call2Recycle, Inc. entered into a partnership to expand their safe battery collection, transportation, and handling. The partnership enhanced the offerings of Call2Recycle, Inc. to include full range of battery protection solutions, which includes consumer mail-back solutions, fire suppression blankets & pillows, damaged lithium-based battery kits, and hazardous material drums. This partnership helped Call2Recycle to the ease their battery collection.
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Electronic Protection Device Coating Market https://www.researchdive.com/covid-19-insights/205/electronic-protection-device-coating-market
Eco-Friendly Food Packaging Market https://www.researchdive.com/covid-19-insights/209/eco-friendly-food-packaging-market
Activated Carbon Market https://www.researchdive.com/covid-19-insights/267/global-activated-carbon-market
Biological Wastewater Treatment Market https://www.researchdive.com/covid-19-insights/280/global-biological-wastewater-treatment-market
Electronic Chemicals Market https://www.researchdive.com/covid-19-insights/337/global-electronic-chemicals-market
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Mr. Abhishek Paliwal
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free: +1-888-961-4454
Follow us: https://marketinsightinformation.blogspot.com/
This content has been published by Research Dive company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at email@example.com.