Stakeholders in Lead-acid Battery Scrap Market See Sustainable Future for Automotive, Global Valuation to Touch Mark of US$ 19 Bn by 2027

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Marine Powerboat Battery Market - The global marine powerboat battery market was valued at US$ 150 Mn in 2019 and is anticipated to expand at a CAGR of ~8% during the forecast period. Based on battery type, the absorbent glass mat segment held a prominent share of the global marine powerboat battery market in 2019, as absorbent glass mat batteries tend to charge more quickly and hold longer than lead-acid batteries. In terms of power rating, the above 20 V segment accounted for a major share of the global marine powerboat battery market in 2019. Above 20V batteries are largely employed in marine powerboats to power electronic devices. Based on vessel type, the cruiser segment constituted significant share of the global marine powerboat battery market in 2019. The demand for cruiser powerboat is high, as it offers variety of onboard activities and is available in different types of sizes and shapes.

Battery Pack for Marine Hybrid & Full Electric Propulsion Market - The global battery pack for marine hybrid & full electric propulsion market was valued at ~US$ 240 Mn in 2019 and is anticipated to expand at a CAGR of ~9% during the forecast period. Among power ratings, the above 3.5 MW segment held a dominant share of the global battery pack for marine hybrid & full electric propulsion market in 2019, primarily due to high demand from the marine industry. In terms of propulsion type, the hybrid propulsion segment accounted for a major share of the global battery pack for marine hybrid & full electric propulsion market in 2019. This can be ascribed to high adoption of hybrid propulsion systems in retrofit ships. Based on vessel type, the ferries segment constituted a significant share of the global battery pack for marine hybrid & full electric propulsion market in 2019. Demand for hybrid and full electric ferries is high, as they reduce the pollution near port areas and save operational costs.

Battery Recycling Market - The global battery recycling market was valued at US$ 3.45 Bn in 2018 and is anticipated to expand at a CAGR of ~10% during the forecast period. Based on battery chemistry, the lead-acid segment held a dominant share of the global battery recycling market in 2018. Secondary lead obtained from recycling is of high quality and low cost. In terms of spent battery source, the automotive segment accounted for major share of the global battery recycling market in 2018. Increase in demand for automobiles, especially electric vehicles, across the globe is anticipated to boost the automotive segment during the forecast period. Based on end use, the extraction of materials segment constituted a significant share of the global battery recycling market in 2018. This can be ascribed to benefits of extraction of materials from used batteries, as the extracted material can once again be used as a raw material for various products (including batteries). The battery recycling market in Asia Pacific is likely to expand at a rapid pace during the forecast period, owing to high investments in the automobile sector from countries in the region such as China and India