Lead Acid Battery Recycling Market Information Size, Share and Global Trend by Type (Flooded Lead Acid Batteries, Sealed Lead Acid Batteries) By Method (Collection and Separation, Hydrometallurgical Process, Pyro-metallurgical Process, Neutralization of Acid), By Source (Automobile, UPS, Electronics & Electrical Equipment’s, Submarines) and Geography Forecast till 2026.
Fortune Business Insights in their new study foresees the global Lead Acid Battery Recycling Market to witness remarkable growth in the coming years on account of the necessary steps taken to measure the level of pollution emitted by various industries.
List of the companies functioning in the global market are
- Retriev Technologies
- Aqua Metals
- Umicore N.V
- Excide Technologies
- Battery Solutions LLC
- Gravita India Ltd
- Johnson Controls
- East Penn Manufacturing Company
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Focus on Environment Protection – Major Driver for Market Growth
Battery recycling helps to prevent degrading of environment and health hazards that disposable batteries posse especially after they are dumped in the landfills. Batteries consist of various harmful and toxic metals such as mercury, nickel, lead, cadmium, and others. These substances, if exposed to the soil can contaminate both the soil and the underground water resources, in case of landfills.
During the process of incineration, lead acid batteries release such toxic metals to the environment along with the ash. Therefore, the rise in environment issues and the health hazards following environment degradation are the major factors boosting the global lead acid battery recycling market.
Various governments and non-profit organizations are taking necessary steps by spreading awareness. Raw materials used for making batteries have high commercial value, hence its extraction process may help to yield the raw materials and this may prove to be cost efficient when making fresh ones. The use of recycled products for manufacturing fresh pieces is a more convenient way of promoting the ideology of reduce-reuse-and recycle and this will not only boost the market but also save a lot of money used for production.
On the flipside, most of the small businessmen and end users prefer to throw used lead acid batteries into garbage dumps instead of giving for recycling. This non-cooperation from cottage industries and small-scale end users may restrict the market from growing.
Strict Regulatory Measures on Recycling Lead Acid Batteries to Promote Growth
Among various regions, the global lead acid battery recycling market was dominated by North America. This region took an initiative on battery dumping and the end results were marvelous. The recycling rate of lead acid batteries in North America was 96% which was the highest among other economic products. Another factor boosting the market in this region is the presence of headquarters of major tech giants that ultimately propels demand for batteries on a large scale.
On the other side, there is an extensive growth potential in Asia Pacific. This is estimated on the fact that India, China, and Southeast Asia are the amongst the top consumers of electronics and automobiles, along with other battery-powered vehicles. This has outstripped the domestic lead production of the aforementioned nations and this will help the market grow exponentially in the coming years as well.
The market for lead acid battery recycling in Europe is also anticipated to grow significantly in the coming years on account of the implementation of environment protection acts and norms.
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