Batteries are amongst the most extensively employed sources of power and comprise precious and rare earth metals. There is an increasing requirement for recycling batteries, which are spent, in order to recover these precious materials and for their reutilization. If batteries if not recycled, need to be disposed of through landfills. These disposed of batteries may start leaking harmful chemicals, which may further pollute the underground water resources and land. Hence, it is extremely vital to recycle batteries in order to impede environmental hazards. The materials which are recovered post the recycling process include, plastics, acids, metals, paper, etc.
Browse the full Global Battery Recycling Market Report: http://www.mrrse.com/battery-recycling-market
Increasing Awareness on Benefits of Recycling to Bolster Growth of Battery Recycling Market
The increasing awareness amongst individuals on the benefits of recycling is amongst the key factors fuelling the growth of the global battery recycling market. In addition, the increasing government regulations on lowering the greenhouse gas emissions and conserving and protecting the environment will also provide impetus to the development of the market. Furthermore, numerous top manufacturers of batteries have also become aware on the increasing health and environmental hazards related to used batteries and hence have started building new recycling centers. This factor will further stimulate the development of the global battery recycling market.
Lead Acid Batteries Held a Dominant Share of Around 45% in 2014
On the basis of battery chemistry, the market is segmented into lead acid, lithium ion, nickel cadmium, and others. Amongst these, the segment of lead acid batteries held a dominant share of approximately 45% in the market for battery recycling in 2014. The reasons for the superiority of this segment is that lead acid batteries are easily extractable and need less operational excellence.
By spent battery source, the battery recycling market is categorized into automotive, appliances, electronics, and others. Amongst these, spent batteries obtained from the automotive industry held a significant share in the market in 2015. This segment is poised to maintain its dominance all through 2024. The increasing count of lead acid batteries employed within vehicles is a prime reason behind the dominance of the automotive industry as a key source for spent batteries.
Europe Held a Prime Share in 2014
Geographically, the global battery recycling market is segmented into Europe, South America, Asia Pacific, the Middle East and Africa, and North America. Amongst these, the Europe battery recycling market held a prime share in 2014 owing to the extensive utilization of energy conservation technologies in this region. In addition, there is an increased awareness on energy conservation and pollution control in the region of Europe, hence fuelling the utilization of battery recycling services in this region.
Browse the full Press Release of Global Battery Recycling Market at http://www.mrrse.com/global-battery-recycling-market
Asia Pacific Battery Recycling Market to Hold Lucrative Opportunities
North America trailed Europe and held the second-largest share in the market in the same year. This is owing to the implementation of strict environmental regulations by a number of government-run institutions in Canada and the U.S. On the other hand, Asia Pacific is predicted to emerge as one of most lucrative battery recycling markets in the coming years. The low cost of labor is a prime factor fuelling the development of the market in this region.
Call2Recycle, Inc., Battery Solutions LLC, East Penn Manufacturing Company, Exide Technologies, EnerSys, G&P Batteries, Johnson Controls, Inc., Gravita India Ltd., Umicore N.V., and Retriev Technologies Inc., among others, are the leading players in the global battery recycling market.