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Global Battery Recycling Market is valued at USD 17.6 Billion in 2020 and is expected to reach USD 27.89 Billion by 2027 with a CAGR of 6.8% over the forecast period.

Global Battery Recycling Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2021-2028- Increasing adoption of electric vehicles, rising demand for recycled products, and growing environmental awareness are some of the major factors driving the growth of the Global Battery Recycling Market.

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Battery recycling is an effective way to recycle and reuse batteries to reduce hazardous waste. Battery recycling is a reusing movement that aims to decrease the number of batteries being disposed of as municipal solid waste. Batteries contain various heavy metals and harmful chemicals and discarding them by a similar process as normal household waste has risen worries over soil contamination and water contamination. Recycling has less of an environmental impact than mining virgin materials. Direct recycling can reduce energy consumption and emissions. Numerous urban communities offer battery recycling services for lead-acid batteries.

Mercedes-Benz to Build its Own Battery Recycling Plant in Southern Germany

On March 11th, 2022; Mercedes-Benz started to fabricate its own battery recycling plant in Germany. Along with technology partner Primobius and an eminent research institute, the pilot project is planned to begin in 2023. Mercedes-Benz is investing a double-digit million euro sum in research and development, as well as in the development of the CO2- neutral pilot plant at the Mercedes-Benz area in Kuppenheim in southern Germany. The pilot plant is supposed to have a yearly limit of 2,500 tons. The recovered materials will be fed back into the recycling circle to create in excess of 50,000 battery modules for new Mercedes-EQ models.

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The Following Manufacturers Are Covered In This Report:

Battery Recycling Market Report is also available for Specific Regions & Countries:

Geographically, North America is expected to capture a major share in the global battery recycling market within the forecast period due to the growing demand for electric vehicles, rising demand for lithium-ion batteries, and rise in battery recycling activities in the region. Increasing growing demand for electric vehicles is driving the growth of the market.

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