Battery Recycling Market worth $54.3 billion by 2030, at a CAGR of 10.5%, says MarketsandMarkets™

Delray Beach, FL, Feb. 27, 2025 (GLOBE NEWSWIRE) — The Battery Recycling Market is projected to grow from USD 26.9 billion in 2023 to USD 54.3 billion by 2030, at a CAGR of 10.5% from 2023 to 2030, as per the recent study by MarketsandMarkets™. Consumer awareness regarding resource conservation and sustainability is driving the growth of the market. The growth of the market is driven by the increased utilization of batteries in electric vehicles, smart devices, and other consumer electronic gadgets.

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Browse in-depth TOC on “Battery Recycling Market”

247 – Market Data Tables
49 – Figures
272 – Pages

List of Key Players in Global Battery Recycling Market:

1. ACCUREC Recycling GmbH (Germany)
2. American Battery Technology Company (US)
3. Aqua Metals, Inc. (US)
4. Call2Recycle, Inc. (US)
5. Cirba Solutions (US)
6. Contemporary Amperex Technology Co., Limited (China)
7. East Penn Manufacturing Company (US)
8. Ecobat (US), Element Resources (US)
9. EnerSys (US), Exide Industries Ltd. (India)
10. Fortum (Finland), GEM Co., Ltd. (China)
11. Glencore (Switzerland)
12. Gopher Resource (US),
13. Gravita India Limited (India)
14. Li-Cycle Corp. (Canada)
15. Neometals Ltd. (Australia)
16. Raw Materials Company (Canada)
17. RecycLiCo Battery Materials Inc. (Canada)
18. Redwood Materials Inc. (US)
19. Shenzhen Highpower Technology Co., Ltd. (China)
20. Stena Recycling (Sweden)
21. TES (Singapore), Terrapure (Canada)
22. The Doe Run Company (US)
23. The International Metals Reclamation Company (US)
24. Umicore (Belgium)

Drivers, Opportunities and Challenges in Battery Recycling Market:

1. Drivers: Increase in demand for electric vehicles
2. Restraint: Safety issues related to the storage and transportation of spent batteries
3. Opportunity: Rising demand for renewable energy storage
4. Challenge: High cost of recycling and dearth of technologies

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Key Findings of the Study:

1. By source, the automotive batteries segment is estimated to account for the largest share of battery recycling market during 2023 to 2030.
2. By chemistry, the lead acid batteries segment accounted for the largest share of battery recycling market in 2022.
3. Asia Pacific is estimated to account for the largest share of battery recycling market during 2023 to 2030.

Based on source, the automotive batteries segment is projected to be the fastest-growing segment during 2023 to 2030. Lithium-ion batteries are largely used in the automotive industry which comprises various companies involved in the design, manufacture, development, and marketing of electric vehicles. Valuable metals including lithium, cobalt, nickel, and other rare earth elements are found in automotive batteries. These minerals can be recovered through recycling, which lowers the demand for new mining operations and preserves natural resources, thus fueling the growth of this segment. 

Based on chemistry, the lithium-based batteries segment is projected to be the fastest-growing segment during 2023 to 2030. The growing number of portable electronic devices such as smartphones, tablets, laptops, and other handheld gadgets has increased the demand for robust batteries with extended life span. Lithium-ion batteries are suitable for portable electronics since they are lightweight and have a high energy density. The rapid growth in portable electronics sectors, coupled with the increasing demand for lithium-based batteries, drives the need for efficient and sustainable recycling solutions to manage the end-of-life batteries.

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Based on region, Europe is projected to be the fastest-growing region for battery recycling market during 2023 to 2030. The rising output of spent batteries from various end-use applications such as automotive, industrial, and marine is leading to the growth of the Europe battery recycling market. Stringent environmental regulations for the proper disposal and recycling of batteries in economies such as Norway and France are also among factors expected to drive the European market during the forecast period.

Companies such as Call2Recycle, Inc. (US), Cirba Solutions (US), Element Resources (US), Umicore (Belgium), Contemporary Amperex Technology Co., Limited (China), and Exide Industries Ltd. (India) fall under the winners’ category. These are leading players in the battery recycling market, globally. These players have adopted the strategies of new technology launches, joint ventures, partnerships, contracts, collaborations, acquisitions, agreements, investments, and expansions to increase their market shares.

Call2Recycle, Inc.

Call2Recycle, Inc. is among the major players operating in the battery recycling market. The company is engaged in the collection and recycling of single-use & rechargeable batteries such as lithium (primary), lithium-ion, lead-acid, alkaline, and others. Call2Recycle, Inc. has a strong brand name in North America and is the preferred recycler by many government authorities in the region. The major strategies adopted by the company are partnerships and contracts, which have enabled it to establish its foothold in the fast-growing markets. 

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