North America Battery Recycling Market Growth, Size, Trends, Share, Revenue and Future Outlook
North America Battery Recycling Market Size- By Type, By End User Industry- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2024 | Report ID: POAE2445 | Pages: 1 - 153 | Formats*: |
| Category : Power & Energy | |||
North America Battery Recycling Market Introduction and Overview
According to SPER Market Research, the North America Battery Recycling Market is estimated to reach USD 10,616.72 million by 2033 with a CAGR of 12.23%.
The report includes an in-depth analysis of the North America Battery Recycling Market, including market size and trends, product mix, applications, and supplier analysis. Battery recycling is an effective method for reprocessing and reusing batteries, reducing the quantity of batteries discarded as waste. Recycling has been established as a key idea, with lesser environmental implications as compared to the extraction of virgin resources. Direct recycling might significantly cut both energy consumption and emissions. The recycling of discarded electric batteries has enormous potential and offers significant economic benefits. Several standards and regulations have been developed to ensure consumer product safety, safe handling, storage and treatment, reuse, recycling, and disposal of batteries used in a variety of applications.
- In March 2023, Ascend Elements built an electric vehicle battery recycling factory in Georgia, North America. It is a commercial-scale lithium-ion battery recycling plant with an annual processing capacity of up to 30,000 metric tons of spent lithium-ion batteries.
- In February 2022, Ford and Volvo joined Redwood Materials to offer a free EV battery recycling service in California. Redwood Materials planned to cooperate with California dealers and dismantlers to recover end-of-life battery packs from hybrid and electric automobiles. It further said that the company takes both lithium-ion and nickel hydride batteries in the area, regardless of car model.
Market Opportunities and Challenges
Opportunities: The North American Battery Recycling Market is expected to provide attractive chances for organizations, such as acquisitions, partnerships, collaborations, product launches, and agreements, throughout the estimated period. Furthermore, rising environmental concerns about the negative impact of batteries on the environment are expected to drive growth in the North American Battery Recycling market. In addition, North America has seen a surge in the use of batteries in the automobile and consumer electronics industries. This is due to an increase in the consumption of smartphones, wearable gadgets, tablets, laptops, power banks, and other items, as well as a surge in demand for electric vehicles in the automotive industry. The administration estimates that there are currently 3 million electric cars in the United States. Aside from that, batteries are an important component of renewable energy systems for energy storage, therefore during peak energy demand, more batteries are consumed and recycled, strengthening the region's battery recycling business.
Challenges: The battery recycling business may face serious challenges due to high recycling costs and a lack of available technology. Battery recycling entails several costly and time-consuming steps, such as gathering, classifying, disassembling, and extracting precious elements like nickel, cobalt, lithium, and rare earth metals. The necessity to guarantee the safe handling and disposal of hazardous substances included in batteries drives up the cost even more. Another issue is the dearth of effective battery recycling techniques. Developing scalable and efficient processes that can handle several battery types—including those with distinct chemistries—is essential. Additionally, in order to effectively recover valuable materials and minimize waste, recycling processes must progress in tandem with battery technology.
Market Competitive Landscape
The battery recycling market competitive landscape gives information by competitor. Details include the company's overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, North American presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The aforementioned data elements are only relevant to the companies' concentration on the battery recycling sector. Key players are American Battery Technology Company, Li-Cycle Holdings Corp, Lithion Recycling Technologies Inc, RecyLi Co, Eco-Bat Technologies, Redwood Materials Inc, Clarios, Gopher Resource, Call2Recycle, and Aqua Metals.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By End User Industry |
| Regions covered | United States, Canada, Mexico, Rest of North America |
| Companies Covered | American Battery Technology Company, Li-Cycle Holdings Corp, Lithion Recycling Technologies Inc, RecyLi Co, Eco-Bat Technologies, Redwood Materials Inc, Clarios, Gopher Resource, Call2Recycle, Aqua Metals. |
COVID-19 Impact on North America Battery Recycling Market
In North America, the United States has more confirmed COVID-19 cases than Mexico or Canada. The major disruption in manufacturing facilities, as well as raw material sources, has reduced demand for battery recycling in the region. The region's battery recycling market has been hampered by a distorted supply of used batteries and inadequate operational efficiencies. However, as the economy recovers, numerous industries are strategically investing in environmental sustainability. This is projected to boost the battery recycling market growth throughout the forecast period.
Key Target Audience
- Automobile Manufacturers
- Battery Manufacturers
- Environmental Agencies
- Government Bodies
- Industrial End-Users
- Raw Material Suppliers
- Recycling Companies
- Research Institutions
- Retailers and Distributors
- Technology Providers
Our in-depth analysis of the North America Battery Recycling Market includes the following segments:
| By Type: |
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| By End User Industry: |
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Key Topics Covered in the Report
- North America Battery Recycling Market Size (FY’2024-FY’2033)
- Overview of North America Battery Recycling Market
- Segmentation of North America Battery Recycling Market By Type (Lithium-Ion Batteries, Nickel Batteries, Lead Acid Batteries, Others)
- Segmentation of North America Battery Recycling Market By End User Industry (Consumer Electronics, Automotive, Industrial, Energy, Others)
- Statistical Snap of North America Battery Recycling Market
- Expansion Analysis of North America Battery Recycling Market
- Problems and Obstacles in North America Battery Recycling Market
- Competitive Landscape in the North America Battery Recycling Market
- Impact of COVID-19 and Demonetization on North America Battery Recycling Market
- Details on Current Investment in North America Battery Recycling Market
- Competitive Analysis of North America Battery Recycling Market
- Prominent Players in the North America Battery Recycling Market
- SWOT Analysis of North America Battery Recycling Market
- North America Battery Recycling Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Battery Recycling Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Battery Recycling Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Battery Recycling Market
7. North America Battery Recycling Market, By Type (USD Million) 2020-2033
7.1. North America Battery Recycling Market Size, Share and Forecast, By Type, 2020-20267.2. North America Battery Recycling Market Size, Share and Forecast, By Type, 2027-20337.3. Lithium-Ion Batteries7.4. Nickel Batteries7.5. Lead Acid Batteries7.6. Others
8. North America Battery Recycling Market, By End User Industry (USD Million)2 020-2033
8.1. North America Battery Recycling Market Size, Share and Forecast, By End User Industry, 2020-20268.2. North America Battery Recycling Market Size, Share and Forecast, By End User Industry, 2027-20338.3. Consumer Electronics8.4. Automotive8.5. Industrial8.6. Energy8.7. Others
9. North America Battery Recycling Market Forecast, 2020-2033 (USD Million)
9.1. North America Battery Recycling Market Size and Market Share
10. North America Battery Recycling Market, By Region, 2020-2033 (USD Million)
10.1. North America Battery Recycling Market Size and Market Share By Region (2020-2026)10.2. North America Battery Recycling Market Size and Market Share By Region (2027-2033)10.3. United States10.4. Canada10.5. Mexico10.6. Rest of North America
11. Company Profile
11.1. American Battery Technology Company
11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments
11.2. Li-Cycle Holdings Corp
11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments
11.3. Lithion Recycling Technologies Inc
11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments
11.4. RecyLi Co
11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments
11.5. Eco-Bat Technologies
11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments
11.6. Redwood Materials Inc
11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments
11.7. Clarios
11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments
11.8. Gopher Resource
11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments
11.9. Call2Recycle
11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments
11.10. Aqua Metals
11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Battery Recycling Market is projected to reach USD 10,616.72 million by 2033, growing at a CAGR of 12.23% during the forecast period.
North America Battery Recycling Market grew in Market size from 2022. The Market is expected to reach USD 10,616.72 million by 2033, at a CAGR of 12.23% during the forecast period.
North America Battery Recycling Market CAGR of 12.23% during the forecast period.
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North America Battery Recycling Market size is USD 10,616.72 million from 2024 to 2033.
North America Battery Recycling Market Segment is covered By Type, By End User Industry.
The key players in the Market include Companies Covered American Battery Technology Company, Li-Cycle Holdings Corp, Lithion Recycling Technologies Inc, RecyLi Co, Eco-Bat Technologies, Redwood Materials Inc, Clarios, Gopher Resource, Call2Recycle, and Aqua Metals.
The recycling of discarded electric batteries has enormous potential and offers significant economic benefits.
The North America is anticipated to have the highest Market share in the North America Battery Recycling Market.
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