Lead-acid Battery Scrap Market to Reach Value of US$ 28.8 Bn by 2031, Says TMR Report

The lead-acid battery scrap market is projected to expand at a CAGR of 10.47% during 2022-2031
Rise in the sales of vehicles across the globe is creating profitable opportunities for the lead-acid battery scrap market
Increase in government initiatives for spreading awareness about battery recycling is fueling the market expansion

WILMINGTON, Del., Sept. 2, 2022 -- The global market share for lead-acid battery scrap market is expected to reach a value of US$ 28.8 Bn by 2031, according to a research report by Transparency Market Research (TMR). This denotes that the market is prognosticated to grow at a CAGR 10.47% during the forecast period, 2022-2031.

The report by TMR offers in-depth insights on the lead-acid battery scrap market including exhaustive study of major factors influencing the market expansion such as the growth drivers, growth restraints, challenges, and expansion avenues in the market. Moreover, the study sheds light on important market trends, recent developments, and market value of lead-acid battery scrap in different regions.

Lead-acid batteries are being increasingly utilized in large-capacity rechargeable batteries owing to their different advantages including their dependability and cost-effective nature. Approximately 75% of lead is being utilized in batteries used in industrial and automotive applications including uninterruptible power supplies, solar power storage, and vehicles. This factor is expected to result into a rise in the sales of lead-acid battery scrap market during the forecast period, note analysts at TMR.

Due to rising global population and improving spending power of people, the demand for passenger vehicles is being increasing across the globe. This factor is projected to help in the global lead-acid battery scrap market growth in the upcoming years, states a TMR study.

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Lead-acid Battery Scrap Market: Key Findings

Lead is a one of the important raw materials that find application in the production of lead-acid batteries. The metal holds high risks to affect the human life as well as the environment. Inappropriate batteries disposal in landfills can result into pollution of groundwater as well as surface water sources with lead. Growing understanding about these risks are resulting into a surge in initiatives in order to recycle the batteries. This factor is expected to drive the sales growth in the global lead-acid battery scrap market during the forecast period.
Generally, lead-acid batteries are manufactured using approximately 70% to 100% of recyclable lead. Hence, the recycling of these batteries can provide significant amount of money. Though lead is non-renewable, its recycling can be performed unlimited number of times. As a result, a continuous supply of lead can be obtained from used batteries. This factor is creating revenue-generation opportunities in the global lead-acid battery scrap market.
Over the period of past few years, there has been increase in number of collaboration agreements between non-profit organizations and automotive companies in order to spread awareness on the concept of battery recycling. This factor is resulting into increasing the flow of lead-acid battery scrap for recycling activities, which in turn, is propelling the global lead-acid battery scrap market.

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Lead-acid Battery Scrap Market: Growth Boosters

Surge in understanding pertaining to the environment and health-related risks is boosting the market growth
Increase in the sales of vehicles is bolstering the lead-acid battery scrap market

Lead-acid Battery Scrap Market: Key Players

Some of the key players profiled in the report are:

Gravita India Ltd
EnviroServe
Exide Industries Ltd.
EnerSys
Aqua Metals Inc.
SYSTEMS SUNLIGHT S.A.
AMIDT GROUP
Battery Solutions LLC
Engitec Technologies SpA
Duracell Inc.
Bee'ah Sharjah Environment Company LLC
ECOBAT Technologies Ltd
Johnson Controls International PLC
Madenat Al Nokhba Recycling Services LLC

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Lead-acid Battery Scrap Market Segmentation

Source

Motor Vehicle
UPS
Telecom Station
Electric Power Industry
Watercraft
Aircraft
Military
Oil & Gas Industry
Stand-alone Systems
Others

Method

Collection & Segregation
Hydrometallurgical Treatment
Pyrometallurgical Treatment
Neutralization of Acid

Product

Lead
Sulfuric Acid
Others

Battery Type

Flooded
Sealed
AGM
Gel

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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SOURCE Transparency Market Research