Stakeholders in Lead-acid Battery Scrap Market See Sustainable Future for Automotive, Global Valuation to Touch Mark of US$ 19 Bn by 2027 TMR
- Defense and aerospace sector key revenue generator, scrap sellers consolidating their distribution channels with the help of support by regional governments, transportation high-value growth segment
- Multiple applications of lead-acid battery scraps spur e-recycling technologies in lead-acid battery scrap market, application of waste in making solar home appliances has emerged as a new growth avenue
ALBANY, N.Y, Dec. 3, 2020 /PRNewswire/ -- Lead-acid batteries have a high recycle value particularly for the production of lead, and hence the growth in the lead-acid battery scrap market underlies on the use of lead-acid batteries especially in the automotive industry and oil and gas industry There is an abundant demand for these in commercial vehicles especially passenger vehicles.
E-recycling methods have also substantially advanced on the back of governments' support, rise in investments by recyclers, and strides made in end-use industries. Also automakers in some key regions of the world, such as in Europe, are leaning on recycling lead-acid batteries to prepare for transitioning to production of electric vehicles on large scale.
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Stakeholders eye substantial prospects in developing regions, driven by use of batteries in the electric power industry by tier 1 and tier 2 cities, and even in rural areas.
In relation to both revenue and incremental growth, the lead-acid battery scrap market will see a promising growth during 2019 - 2027, concurs analysts at TMR. Sustainable treatment processes and entering into strategic collaborations will pave way to potentially lucrative avenues in the market.
From 2019 to 2027, the global lead-acid battery scrap market is projected to clock CAGR of 10% and reach worth of US$ 19 Bn by the end of 2027.
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Key Findings on Lead-acid Battery Scrap Market Report
- The lead-acid battery scrap market is highly fragmented
- Automotive a key revenue generator, abundant uptake of lead-acid in commercial key trend
- Asia Pacific held the major share in lead-acid battery scrap market in 2018
- Opportunities in aforementioned market projected to expand at rapid pace
- Europe and North America are also lucrative markets
- Aerospace and defense key end user
- Of the battery type, flooded lead-acid batteries accounted for a major share
- In 2018, the valuation of the market was pegged at US$ 7.5 Bn
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Lead-acid Battery Scrap Market: Key Driving Factors and Promising Avenues
- Abundant use of lead-acid batteries in a wide range of applications is a key driver for the prospects of lead-acid battery scrap market. Scraps are used in multiple end-use application such as in making solar devices
- The market has witnessed a large momentum due to the growing trend of adoption of electric vehicles across the world. Lead-acid batteries are preferred over lithium-ion batteries in electric vehicles (EVs). The demand for renewable energy storage in EVs is a key factor in this.
- Lead-acid battery scrap dealers have extensively focused on automotive industry.
- Advances made in infrastructure for handling and recycling of lead-acid batteries have substantially expanded the avenue in the market.
- Governments are keen on boosting the e-recycling rate. This has also boosted the market.
- The growing demand for flooded lead acid deep cycle batteries for renewable energy storage is a key trend helping pave way to new chemistries in the lead-acid battery scrap.
- The strides made in the lead industry are spurring substantial opportunities for players in the lead-acid battery scrap market. Proliferating demand for secondary lead among lead metal producers is boosting the market. They account for 55% share of the total lead production.
- Advances made in minerals and metallurgy is another key driver for growth in the lead-acid battery scrap market.
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Lead-acid Battery Scrap Market: Regional Landscape
Asia Pacific is a promising regional market and it held the major market share in 2018. Battery recyclers are keen on comply with the latest norms. China is a major country market in the region. Another prominent trend propelling opportunities in the regional market is the adoption of lead acid battery for large-scale storage, notably in tier 1 and tier 2 cities and increasingly in rural areas.
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The global lead-acid battery scrap market can be segmented on the basis of:
- Sulfuric Acid
- Motor Vehicles
- Telecom Stations
- Electric Power
- Oil & Gas
- Stand-alone Systems
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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