TechSci Research's "Global Battery Recycling Market - By Country, Competition, Forecast & Opportunities, 2028" foresees robust growth with a 12.05% CAGR through 2028. The escalating demand for batteries, driven by electronic devices, automotive, and industrial sectors, comes with heightened environmental concerns. Governments worldwide are enforcing regulations to boost battery recycling, leading to an increased demand for related services.

The market witnesses advancements in recycling technologies, fostering efficiency and sustainability. Battery manufacturers are embracing sustainable practices, utilizing recycled materials, and reducing harmful chemicals, contributing to the rise of recycled batteries.

Despite the high cost of battery recycling due to complexity and specialized equipment requirements, the market faces challenges such as low collection rates and limited availability of recycled battery materials. The COVID-19 pandemic temporarily impacted the market, but recovery is expected in 2021 with global vaccination efforts.

Explore detailed market data spread across 180 pages with a comprehensive TOC on the "Global Battery Recycling Market."

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Battery recycling, vital for recovering materials from used batteries, addresses environmental concerns linked to mining raw materials, battery production, and disposal. Government regulations on battery recycling vary globally, but the market is poised for growth driven by increasing battery demand, environmental consciousness, and regulatory measures.

In 2020, the transportation segment dominated the battery recycling market, fueled by the rise of electric and hybrid vehicles, coupled with efforts to promote automotive electrification.

Key market players in the Global Battery Recycling Market include:

• Umicore

• Retriev Technologies

• American Battery Technology Company (ABTC)

• Li-Cycle

• Aqua Metals

• Battery Solutions

• Recupyl

• Gopher Resource

• Glencore Recycling

• Retech Recycling Technology AB

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Karan Chechi, Research Director at TechSci Research, notes, "Government regulations, environmental safety, and awareness are expected to drive the global battery recycling market. However, challenges related to improper separation, dismantling, and shredding may hamper market growth. Aesthetic battery design, accessible installation, and protective layers offer growth opportunities."

For further insights, refer to the report "Battery Recycling Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Chemistry (Lithium-ion, Lead Acid, Nickel), By Application (Transportation, Consumer Electronics, Industrial, and Others), By Source (Industrial Batteries, Automotive Batteries, and Customer & Electronic Appliances Batteries), By Region, Competition 2018-2028."

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