Lithium-Ion Battery Recycling Market: Industry Report, Price Trends, Latest Update, Growth and Forecast till 2029

 

Research Nester released a report titled “Lithium-Ion Battery Recycling Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers a detailed overview of the global lithium-ion battery recycling market in terms of market segmentation by chemistry, technology, industry, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The lithium-ion battery recycling market is projected to grow at a robust CAGR during the forecast period, i.e., 2021 – 2029. The growth of the market is primarily driven by the staggering adoption of battery-operated electric vehicles, increasing air pollution levels and rising concerns about improper battery disposal. Furthermore, reduction in lithium ion battery prices is also estimated to boost market growth in the near future.

The market is segmented by chemistry, technology, end-user, and by region. On the basis of chemistry, the segment for lithium-nickel manganese cobalt is anticipated to hold the largest market share over the forecast period as a result of growing adoption of these batteries for power tools, electric powertrain, and medical devices. Additionally, by industry, the automotive segment is anticipated to hold the largest market share owing to the high energy and power density of these batteries.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the lithium-ion battery recycling market in Asia-Pacific is expected to hold the largest market share during the forecast period attributing to the growing automotive industry in these regions and increasing adoption of environmental-friendly electric vehicles utilizing lithium-ion battery to operate. Moreover, the market in Europe is predicted to witness highest CAGR in the coming years on the back of large number of clean energy generation targets in the region.

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Growing Adoption of Electric Vehicles to Drive Market Growth

The increasing advancements in development of efficient battery technologies has led to the rapid adoption of electric cars and buses as these vehicles are environment-friendly and cost-effective, which in turn is evaluated to boost the demand for eco-friendly batteries. This is considered to be the major factor estimated to drive growth of the market in the future.

However, safety issues related to the recycling of spent lithium-ion batteries which are anticipated to restraint the growth of the lithium-ion battery recycling market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global Lithium-Ion battery recycling market which includes company profiling of Dowa Eco-system Co. Ltd., Glencore PLC (LON: GLEN), Retriev Technologies, Umicore SA (EBR: UMI), Zhejiang Huayou Cobalt Co. Ltd. (SHA: 603799), GEM Co. Ltd., Akkuser Oy, Accurec Recycling GmbH, Fortum Oyj (HEL: FORTUM), LG Chem Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts a detailed overview of the lithium-ion battery recycling market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Access Full Report, here:– https://www.researchnester.com/sample-request-3058

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