As per the report "Lithium-ion Battery Recycling Market By Type ( NMC, LFP, LMO, Li-TO, NCA, Li-CO ), By Application ( Automotive, Power, Marine, Industrial ), Industry Trends, Estimation & Forecast, 2017-2025" In 2017, the automotive battery recycling segment generated the highest revenue share. Among major regions, the U.S. was the highest revenue generating market in 2017.
“With the continuous development of Li-ion battery and its increasing adoption in a vast industry vertical, a huge requirement for its waste management has emerged up. Moreover, the hiking requirement for Lithium-ion batteries as a major power source in consumer electronic devices and vehicles such as in mobile phones, laptops, tablets, cars and trucks is stimulating the future requirement for Lithium–ion battery recycling/ waste management”
Explicit provision of government initiatives supports the growth of recyclers all over the globe.
The occurrence of various potential environmental as well as human health impacts of lithium-ion batteries has led the various health authorities to suggest stringent government regulations and policies in order to promote and encourage more recycling and reuse of Li-ion batteries. Various governments have taken initiatives in order to curb these issues. Various governments such as of Germany are promoting people to give their batteries back for recycling. This will also boost the growth of the battery recycling market. Regions such as China and Europe have released regulations on Recycling of Motive Lithium Ion Batteries, owing to the growing community concern about the impact of waste lithium ion batteries on the environment and public health. In Germany, it has been mandated by the law to submit the expired batteries to the designated stores in order to get them recycled. Such trends are helping the major market players to get a strong foothold over the market.
Source
“With the continuous development of Li-ion battery and its increasing adoption in a vast industry vertical, a huge requirement for its waste management has emerged up. Moreover, the hiking requirement for Lithium-ion batteries as a major power source in consumer electronic devices and vehicles such as in mobile phones, laptops, tablets, cars and trucks is stimulating the future requirement for Lithium–ion battery recycling/ waste management”
Explicit provision of government initiatives supports the growth of recyclers all over the globe.
The occurrence of various potential environmental as well as human health impacts of lithium-ion batteries has led the various health authorities to suggest stringent government regulations and policies in order to promote and encourage more recycling and reuse of Li-ion batteries. Various governments have taken initiatives in order to curb these issues. Various governments such as of Germany are promoting people to give their batteries back for recycling. This will also boost the growth of the battery recycling market. Regions such as China and Europe have released regulations on Recycling of Motive Lithium Ion Batteries, owing to the growing community concern about the impact of waste lithium ion batteries on the environment and public health. In Germany, it has been mandated by the law to submit the expired batteries to the designated stores in order to get them recycled. Such trends are helping the major market players to get a strong foothold over the market.
Source
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