North America Battery Recycling Market

Market Introduction

The North America battery recycling market is a highly fragment

ed

market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Policymakers have framed several regulations regarding the effective utilization and disposal of waste battery materials, which are significantly contributing to the expansion of the battery recycling market. Such policies play a vital role in consumer product safety, safe handling, storage and treatment, reuse, recycling, and disposal of batteries used across various application bases. For instance, as per the Environmental Protection Agency (EPA), lithium-ion batteries deployed in products such as electronics and electrical appliances, consumer goods, electric vehicles, and electrical energy storage systems, should be handled and disposed of carefully. Single-use, non-rechargeable lithium metal batteries; and re-chargeable lithium-polymer cells (Li-ion, Li-ion cells) are categorized as two types of lithium batteries that are used by consumers base and require effective waste management to avoid environmental degradation. The collection and recycling rates, coupled with the profitability of recycling and the impact upon the environment and health, are heavily reliant upon the battery technology or type. The increased government spending on advanced recycling facilities, along with the entry of multiple e-waste management startups and positive initiatives to incentivize structures for participants involved in battery recycling, is expected to bolster the market growth.

In North America, the US has the highest number of confirmed COVID-19 cases, compared with Mexico and Canada. The significant disruption in manufacturing facilities, along with raw material sourcing, has had a negative impact on the demand for battery recycling in the region. The market for battery recycling has been impacted in the region due to distortion in supply of used batteries with limited operational efficiencies. However, with the state of economic recovery, several industrial sectors are strategically focused on investing in environment sustainability. This is expected to provide impetus to the battery recycling market growth during the forecast period.

 

North America Battery Recycling Strategic Insights

Strategic insights for the North America Battery Recycling provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Battery Recycling Report Scope

North America Battery Recycling Regional Insights

The geographic scope of the North America Battery Recycling refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Market Overview and Dynamics

The battery recycling market in North America is expected to grow from US$ 3,027.61 million in 2021 to US$ 6,653.22 million by 2028; it is estimated to grow at a CAGR of 11.9% from 2021 to 2028.  The presence of various domestic and international battery recycling companies in the region is driving the battery recycling market in North America. Retriev Technologies, one of the North America leaders in the lithium-ion battery recycling market, is building partnerships with the local companies in North America to further strengthen and value the li-ion battery recycling market. Li-Cycle, which is a Canadian battery recycling firm, has planned to open a US$175 million recycling facility in Rochester, New York. The facility promises to deliver recycled battery materials, including lithium-ion, at a market scale. Such initiatives, investments, and strategic partnerships by the leading companies are propelling the growth of the battery recycling market. In relation to this, increased investment in the forklift truck industry in North America will lead to an increased usage of forklift trucks, which will lead to increased recycling of lithium-ion as well lead-acid batteries that are being used in the North American market.

Key Market Segments

Based on type, the lead acid battery segment accounted for the largest share of the North America battery recycling market in 2020. Based on battery source, the consumer electronics segment accounted for the largest share of the North America battery recycling market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the North America battery recycling market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Aqua Metals, Inc.; Clarios; COM2 Recycling Solutions; Contemporary Amperex Technology Co. Limited; East Penn Manufacturing Company; Exide Industries Limited; G P Batteries International Limited; Gopher Resource; Retriev Technologies and Terrapure Environmental.

Reasons to buy report

• To understand the North America battery recycling market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America battery recycling market
• Efficiently plan M&A and partnership deals in North America battery recycling market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America battery recycling market
• Obtain market revenue forecast for market by various segments from 2019-2028 in North America region.

North America Battery Recycling Market Segmentation

North America Battery Recycling Market -B

y Type

• Lead Acid Battery
• Lithium-Based Battery
• Nickel-Based Battery
• Others

North America Battery Recycling Market -By Battery Source

• Automotive
• Industrial
• Household
• Consumer Electronics
• Forklift

North America Battery Recycling Market – By Country

• US
• Canada
• Mexico

North America Battery Recycling Market – Company Profiles

• Clarios
• East Penn Manufacturing Company
• Exide Industries Limited
• Contemporary Amperex Technology Co. Limited
• COM2 Recycling Solutions
• Gopher Resource
• Terrapure Environmental
• GP Batteries International Limited
• Retriev Technologies
• Aqua Metals, Inc.