Decreasing Lithium-Ion Battery Prices Presents Opportunities

The Irish company Research and Markets has added the report “Global Battery Recycling Market 2020-2028” to its offering.

According to the analysis, this global market is predicted to grow at a compound annual growth rate (CAGR) of 9.10 percent from 2020 to 2028. It is boosted by increasing concerns among countries on battery waste disposal coupled with strict rules and regulations. “The growing adoption of electric vehicles that majorly use lithium-ion batteries is another major factor driving the market growth”, the information said. “Moreover, a high recycling gap between batteries, the government subsidies provided to encourage battery recycling and the declining lithium-ion battery costs are creating immense opportunities for the battery recycling market.”

However, technological advancements in battery technologies are restraining the global battery recycling market’s growth. Besides, lack of supply chain and low yield in battery recycling is affecting the market growth. Furthermore, safety issues regarding the storage and transportation of used batteries are challenging the growth of the battery recycling market.

The market report covers the countries from Latin America, Europe, North America, Asia-Pacific and the Middle East and Africa.

(GR22020, Page 7, Photo: O. Kürth)