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Technavio, an international market research institution, recently released a report that from 2021 to 2025, the global lithium-ion battery recycling market is expected to grow by $1.
11 billion, with a compound annual growth rate of 17.
76%
during the period.
The increasing demand for electric vehicles is significantly driving the growth
of the lithium-ion battery recycling market.
At the same time, the reuse of metal resources and protection of the environment will also promote the growth of
the battery recycling market.
However, on the other hand, factors such as safety issues related to storage and transportation of spent batteries may hamper the market growth
.
From a regional perspective, 85% of the market growth during the forecast period will come from the Asia-Pacific region
.
China, South Korea, and Japan are the major markets
for lithium-ion battery recycling in the Asia-Pacific region.
The Asia-Pacific region has been experiencing high growth rates and is expected to provide multiple growth opportunities
for vendors in the market during the forecast period.
Stringent government regulations and EPA guidelines to limit environmental hazards will boost the growth of the lithium-ion battery recycling market in Asia Pacific during the forecast period
.
From the perspective of application fields, the market share of lithium-ion battery recycling in the non-mobile field has increased significantly
.
To capitalize on the opportunities and recover from the post-COVID-19 impact, market vendors will focus more on growth prospects in fast-growing areas while maintaining their position in
slow-growing areas.
Technavio, an international market research institution, recently released a report that from 2021 to 2025, the global lithium-ion battery recycling market is expected to grow by $1.
11 billion, with a compound annual growth rate of 17.
76%
during the period.
The increasing demand for electric vehicles is significantly driving the growth
of the lithium-ion battery recycling market.
At the same time, the reuse of metal resources and protection of the environment will also promote the growth of
the battery recycling market.
However, on the other hand, factors such as safety issues related to storage and transportation of spent batteries may hamper the market growth
.
From a regional perspective, 85% of the market growth during the forecast period will come from the Asia-Pacific region
.
China, South Korea, and Japan are the major markets
for lithium-ion battery recycling in the Asia-Pacific region.
The Asia-Pacific region has been experiencing high growth rates and is expected to provide multiple growth opportunities
for vendors in the market during the forecast period.
Stringent government regulations and EPA guidelines to limit environmental hazards will boost the growth of the lithium-ion battery recycling market in Asia Pacific during the forecast period
.
From the perspective of application fields, the market share of lithium-ion battery recycling in the non-mobile field has increased significantly
.
To capitalize on the opportunities and recover from the post-COVID-19 impact, market vendors will focus more on growth prospects in fast-growing areas while maintaining their position in
slow-growing areas.
