TechSci Research presents a comprehensive report on the Global Industrial Battery Recycling Market, highlighting key insights and projections. Anticipated to exhibit robust growth, the market is expected to achieve a CAGR of 7.25% through 2028. The escalating demand for batteries in electronic devices, automotive, and industrial sectors propels this growth. Increasing environmental concerns about battery disposal, containing harmful chemicals like lead, mercury, and cadmium, prompt governments worldwide to enforce regulations promoting industrial battery recycling.

The report sheds light on evolving recycling technologies aimed at enhancing efficiency and sustainability. Industrial battery manufacturers are aligning with sustainable practices, focusing on recycled materials and reducing harmful chemical usage. The demand for recycled batteries gains momentum due to rising environmental consciousness, positioning them as a more sustainable alternative to virgin batteries.

The report details market data figures and offers an in-depth analysis through 180 pages and a comprehensive Table of Contents on the Global Industrial Battery Recycling Market.

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Despite the high cost and complexity of industrial battery recycling, low collection rates persist due to inadequate awareness and infrastructure. The COVID-19 pandemic temporarily impacted the market, causing a decline in the second, third, and fourth quarters of 2020. However, with the commencement of vaccination efforts worldwide, a recovery is expected by the second quarter of 2021, fostering global economic improvement.

Industrial Battery recycling involves recovering materials from used batteries, contributing to the production of new batteries or other products. The market's growth is attributed to increasing battery demand, environmental concerns, and government regulations mandating used battery collection and recycling.

In terms of applications, the transportation segment dominated the market share in 2020, driven by the rising adoption of electric and hybrid vehicles and efforts to promote electrification in the automotive industry.

Key market players in the Global Industrial Battery Recycling Market include:

  • Umicore

  • Retriev Technologies

  • American Industrial Battery Technology Company (ABTC)

  • Li-Cycle

  • Aqua Metals

  • Industrial Battery Solutions

  • Recupyl

  • Gopher Resource

  • Glencore Recycling

  • Retech Recycling Technology AB

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TechSci Research emphasizes the factors propelling market growth, such as government regulations, environmental safety, and increasing awareness. However, challenges like improper handling of harmful materials and dismantling processes may impede market growth. Opportunities arise from factors like battery design, accessible installation, and provision of protective layers to mitigate fire and short-circuit risks.

The report, "Industrial Battery Recycling Market – Global Industry Size, Share, Trends, Opportunity, and Forecast," segments the market by chemistry (Lead, Nickel, Cobalt, Lithium, and other Metals), battery type (Lead-Acid, Nickel-Cadmium, Nickel Metal Hydride, and Lithium-Ion), region, and competition from 2018 to 2028. Providing critical market intelligence, the report assists decision-makers in making informed investment decisions by identifying emerging trends, drivers, challenges, and opportunities in the Industrial Battery Recycling Market.

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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends.

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