NEW YORK, Jan. 10, 2022
NEW YORK, Jan. 10, 2022 /PRNewswire/ -- The global transportation battery recycling market is expected to witness substantial growth in forecast period, owing to the increasing demand for recycled products around the world. The Europe region is expected to be most dominant by 2030.
Research Dive in its latest published report estimates that the Global Transportation Battery Recycling market will generate $10,299.8 million and exhibit a CAGR of 9.0% from 2021 to 2030.
Market Dynamics of Transportation Battery Recycling Market
Battery technology is used in various aspects of modern life from portable electronics to grid-scale energy storage and transportation, which is resulting in the growing adoption of batteries across the globe. In addition, the demand for recycled products is increasing owing to environmental concerns. All these factors are estimated to propel the growth of the global transportation battery recycling market during the forecast period. Moreover, the increasing demand for electric vehicles around the world are predicted to create massive growth opportunities for the global market. However, the technical issues associated with battery recycling, such as the lack of design for recycling and easy disassembly is expected to hamper the market growth during the estimated timeframe.
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Impact of COVID-19 Pandemic on the Transportation Battery Recycling Market
The COVID-19 pandemic has negatively impacted the global transportation battery recycling market growth. This is majorly owing to the disrupting workforces and supply chains, and shutting down of factories across the globe due to lockdown restrictions. Besides, the economic slowdown has unfavorably impacted the auto industry, leading to severe drops in electric vehicle sales. These factors have hugely affected the global transportation battery recycling market during the pandemic period.
Key Segment Findings of the Transportation Battery Recycling Market:
The research report segments the global transportation battery recycling market into chemistry, source, and region.
Top 10 Prominent Market Players of Transportation Battery Recycling Market
The key players of the global market include
1. Call2Recycle, Inc.
2. Exide Technologies.
3. Battery Solutions, LLC
6. Contemporary Amperex Technology Co., Limited
7. GEM Co., Ltd.
8. Fortum OYJ
9. Johnson Controls International plc
10. Aqua Metals, Inc.
These players are focusing on product launches, technological advancements, and strategic collaborations to gain a competitive in the global market. - Inquire to Get access for Detailed Top Companies Development Strategy Report
For instance, in June 2021, Umicore, a leading materials technology company, announced to provide equity investments in Solid Power, the US-based battery manufacturer with an aim to empower product portfolio for electric passenger vehicles that are integrated with lithium-ion batteries and consequently focus on expanding business in battery recycling.
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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