U.S. Battery Recycling Market Analysis, Growth, Trends and Forecast, 2015 to 2025
The U.S. battery recycling market size was valued at USD 944.4 million in 2017 and is projected to grow at a steady pace owing to stringent government regulations regarding battery manufacturing and disposal processes.
(firmenpresse) - 18 September 2018, The U.S. Battery Recycling Market size is expected to reach USD 1.36 billion by 2025 as a result of increasing demand from widespread applications. Stringent regulations due to rising environmental concerns are driving the battery-recycling sector. Manufacturing of batteries results in high energy consumption and pollution due to CO2 emissions, which further affects the environment. Hence, the government has set up laws and regulations regarding manufacturing and disposal of batteries.
Significant lead emissions are reported annually, ranging from 5 kg to 12,250 kg. Excessive emissions can act as a threat to the recycling market. For instance, in 2015, the Exide technologies plant in Verona was shut down by the government owing to excessive pollution and contamination of the neighborhood, exposing the surroundings with toxic and harmful substances. It contributed to 3,400 pounds of lead emitted, causing air pollution and soil contamination.
New innovative techniques are being developed for sustainable ways to recycle batteries, which is also anticipated to boost market demand. Recently-developed battery recycling methods directly spit out the compound and can be used in new batteries right away. This process is expected to shorten the cost, complexity, and energy requirements of conventional recycling techniques. This factor is also anticipated to have a positive impact on market expansion over the next few years. Direct technology of structuring the cathode material being used by two major market players, Farasis Energy and On To Technologies, is also expected to spur the U.S. battery recycling market.
Furthermore, increasing demand for batteries from the automotive sector is driving the growth of lead acid batteries as disposal of such batteries is illegal in most states. Thus, these batteries are returned to manufacturers through back-haul channels, reducing transportation expenses. Lead acid battery is the dominant segment due to simple process of recycling. Extracted components of these batteries can be readily used for manufacturing new ones. Automated technology for battery disassembly has also driven the lead acid battery recycling segment over the past few years.
Hexa Research has segmented the U.S. battery recycling market report based on product type and end-use:
Segmentation by product type, 2015 - 2025 (USD Billion)
Segmentation by end use, 2015 - 2025 (USD Billion)
Key players analyzed:
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Datum: 18.09.2018 - 04:54 Uhr
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News-ID 1541268
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Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 18.09.2018
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