North America Lithium-ion Battery Recycling Market
No. of Pages: 87 | Report Code: TIPRE00019124 | Category: Energy and Power
No. of Pages: 87 | Report Code: TIPRE00019124 | Category: Energy and Power
Lithium-ion batteries are becoming crucial and are found in large proportion among industries including automotive, mining, consumer electronics and many more. Smartphones, cordless power tools, laptops, tablets, and grid-energy storage, electric vehicles are the prominent applications where lithium-ion batteries are used at a massive rate. Companies such as Tesla and Envirostream are taking necessary steps to promote lithium-ion battery markets. Factors such as improper disposal of lithium-ion battery, recovery of valuable metals through disposal of lithium-ion batteries, and government initiatives for lithium-ion battery recycling are contributing towards the market growth. In addition, increasing use of electric vehicles among consumers owing to rising concern towards lowering carbon emission and to comply with stringent government mandates to lower impact in environment and advent of innovative & economical methods for recycling lithium-ion batteries is another aspect contributing towards the market growth. Moreover, growing demand of electric vehicles (EVs) has created a significant opportunity for the lithium-ion battery recycling market.
Also, the ongoing COVID-19 pandemic is having a very devastating impact over the North America region. Presently, the US is the worst affected country due to COVID-19 outbreak. The US is one of the largest markets for lithium-ion battery recycling especially in space, military, and aerospace sectors. The US is the worst-hit country in North America. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. The majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to the past, and the industries industries are at a halt, which is negatively impacting the market. The automakers in the country have agreed to evaluate and implement the rotating partial shutdown of factories, extensive deep cleaning of surroundings, stretched periods between shifts, as well as comprehensive plans to avoid member contact. In March, several automakers closed their facilities for extensive cleaning. These include GM, Ford, and Honda Motors. Hence, any impact on the growth of automotive sectors is expected to affect the economic growth of the region in a negative manner.
Strategic insights for the North America Lithium-ion 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.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 35.90 Million |
| Market Size by 2027 | US$ 139.56 Million |
| Global CAGR (2020 - 2027) | 21.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Battery Chemistry
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Lithium-ion 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.
The lithium-ion battery recycling market in North America is expected to grow from US$ 35.90 million in 2019 to US$ 139.56 million by 2027; it is estimated to grow at a CAGR of 21.4% from 2020 to 2027. Presently, many large pyro metallurgy facilities are engaged in the recycling of lithium-ion batteries. These facilities usually operate at ~1500 °C to recover various metals such as cobalt, nickel, lithium, aluminum, copper, or any other organic compounds. These facilities are usually capital intensive owing to the requirement for treating the emission of toxic fluorine compounds, which are released while smelting. However, hydrometallurgy-processing techniques, offer a less energy-consuming alternative at lower costs. Moreover, several researchers are studying various cost-effective methods, and some companies are conducting these recycling tests at a pilot-plant scale. Thus, in the near future, cost-effective methods of recycling lithium-ion batteries will come into action.
In terms of battery chemistry, the lithium-nickel manganese cobalt segment led the North America lithium-ion battery recycling market in 2019. In terms of industry, consumer electronics segment led the lithium-ion battery recycling market in 2019.
A few major primary and secondary sources referred to for preparing this report on the lithium-ion battery recycling market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are American Manganese Inc., Eco-Bat Technologies, International Metals Reclamation Company (INMETCO), Li-Cycle Corp., Retriev Technologies, and TES.
The North America Lithium-ion Battery Recycling Market is valued at US$ 35.90 Million in 2019, it is projected to reach US$ 139.56 Million by 2027.
As per our report North America Lithium-ion Battery Recycling Market, the market size is valued at US$ 35.90 Million in 2019, projecting it to reach US$ 139.56 Million by 2027. This translates to a CAGR of approximately 21.4% during the forecast period.
The North America Lithium-ion Battery Recycling Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Lithium-ion Battery Recycling Market report:
The North America Lithium-ion Battery Recycling Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Lithium-ion Battery Recycling Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Lithium-ion Battery Recycling Market value chain can benefit from the information contained in a comprehensive market report.
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