Global Secondary Battery Recycling Market 2019-2023| Rising Stewardship Collaboration for Battery Recycling to Drive Growth| Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2018--The global secondary battery recycling market is expected to post a CAGR of nearly 8% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global secondary battery recycling market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the self-sustainability of battery raw materials. Sourcing from other countries, developing domestic sourcing, or by promoting the recycling used batteries are the three ways to ensure supply of critical raw materials for manufacturing batteries in any country. The reserves for raw materials required for manufacturing secondary batteries such as natural graphite, manganese, and nickel are highly concentrated in few countries.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rising stewardship collaboration for battery recycling as one of the key emerging trends in the global secondary battery recycling market:
Global secondary battery recycling market: Rising stewardship collaboration for battery recycling
Recycling used-batteries is becoming a critical need owing to the depleting metal reserves and their adverse impact on the environment. Along with the government, the stakeholders are required to collaborate and contribute toward the recycling of the batteries. One such trend is stewardship, which is receiving significant traction in the global secondary battery recycling market. The stewardship collaboration programs bring the government, battery manufacturers, businesses, public agencies, and the consumers on the same platform, and all of them would be equally responsible for the end-of-life management of the batteries.
“The battery manufacturers are should provide a suitable and efficient way, also known as extended producer responsibility programs, to receive the discarded batteries from the consumers. Also, manufacturers are required to maintain producer funding, which will reduce the governments’ overall cost of battery management and increase the collection of recycling used batteries. The companies provide the local businesses with prepaid shipping containers and collection boxes, where the consumers can drop-off their discarded batteries,” says a senior analyst at Technavio for research on power.
Global secondary battery recycling market: Segmentation analysis
This market research report segments the global secondary battery recycling market by battery type (lead-acid, lithium-ion, and others) and geographical regions (the Americas, APAC, and EMEA).
The lead-acid segment held the largest market share in 2018, accounting for over 86% of the market. This battery type segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of 56%. This region is expected to dominate the market through 2023, with a 2% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 12/03/2018 02:05 PM/DISC: 12/03/2018 02:05 PM