Global Lithium Ion Battery Recycling Market Report, published by Accurize Market Research, forecast that the global market is expected to grow at a CAGR of 22.1% from 2019 to 2026. China is the major player in the lithium ion battery market; while North America, Europe also accounts for the major share in the global lithium ion battery market.
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Market Introduction and Market Dynamics
Recycling and reusing of batteries is called battery recycling. Due to its high energy density and low discharging capability, the battery of lithium-ion is on high demand The lithium ion battery mainly used in various industries like marine, automotive and industrial power, and others. A sudden increase in the demand for the electric automobile sector for the lithium battery is a major dominating factor in the global market. The raw material we used for an electric vehicle is the lithium ion battery thereby the growth in the electric vehicle automatically boosts the market. Further, the research and development in the lithium ion battery recycling process boost the market in the estimated period. However, some of the disadvantages like overheating lithium batteries pose a threat to industrial security along with the inadequate charging infrastructure and various options to lithium batteries in the market may hamper the market. In order to protect the environment & high compliance to the government regulations are seen in the growing adoption of the recycling program of such batteries.
Market Segmentation and Crisp Analysis
The global lithium ion recycling market is segmented into industry, technology, chemistry & geography. By technology, the market is divided into physical/mechanical processes, pyrometallurgical processes, hydrometallurgical processes, and others. By industry, the market is divided into marine, automotive & industrial power and others. By chemistry, the market is divided into lithium iron, lithium manganese, lithium –cobalt & others.
Regional Segmentation and Crisp Analysis
By geography, the market is distributed across the various geographical regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The country-wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico while Europe covers Germany, Italy, the UK, & the Rest of Europe. Japan, China, India, South Korea and Rest of Asia-Pacific have been analyzed under the Asia-Pacific market. The rest of the world includes Central & South America, the Middle East, and Africa.
Manufacturers Competitive Analysis
The top players operating in the market are frequently investing in research & development and are planning to increase their presence in the untapped emerging economies. Major companies operating in the global market are GEM, BYD Company Ltd., Samsung SDI Co., Ltd., Panasonic Corporation, Johnson Controls Inc., Retriev Technologies, Valence Technology, Inc., Duesenfeld, Bruno Recycling, Umicore and others.
Scope of the Report
The scope of the report covers in-depth analysis of the market in term of both qualitative and quantitative analysis across the segment as well as cross-sectional analysis of the segments including the geographies. Key companies operating in this market and their company profile along with the market share analysis and competitive scenario is also the part of the report. Furthermore, different industries clients’ information has been provided in the report which is very important for the manufactures. Manufacturers’ data including revenue, shipment, revenue share, shipment share & gross profit have been included to provide a better understanding of the market competitors.
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Research Methodology
Destined by the dedicated team of analysts and experts, we are envisioned to provide you with our best to plan you're next strategic across several industry verticals. AMR has developed advanced analyst tools and data models to enhance and augment the analysis process. Corresponding to markets, where there is momentous lack of information and estimates, AMR’s team of experts and analyst practice specific analyst tools and industry models to translate quantitative and qualitative industry indicators into exact industry estimates. These models also allow analysts to inspect the prospects and opportunities existing in the market to achieve the specific forecast of the market.
The Key Opinion Leaders (KOLs) of the respective industry are interviewed and their insights are matched with our findings and database we have and thus we validate our estimates, forecast and provide you with the analysis. We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Also, we have the top five knowledge partners such as Bloomberg, S & P Global, and Dow Jones among others for ultimate data validation, prepared by our research team.
Lithium-Ion Battery Recycling Market was valued at USD 1.87 Billion in 2019 and is expected to reach USD 13.25 Billion by 2027, at a CAGR of 27.73% during the forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.Resources for lithium-ion battery production are limited in comparison to its demand from different end-use industries.
Research and then commercialization of recyclable lithium ion batteries are taking place especially for its applications in the automobile industry for hybrid cars as well.
Recycling of lithium-ion batteries will allow better and long-term usage thereby controlling the manufacturing process resulting in lower carbon-dioxide emissions.
Recycling of utilized materials further helps in the preservation of natural resources and reduce carbon footprint.
