Battery Recycling Market Summary

The global battery recycling market size was estimated at USD 1.83 billion in 2023 and is projected to reach USD 17.08 billion by 2030, growing at a CAGR of 37.6% from 2024 to 2030. The industry is expected to expand rapidly during the forecast period, driven by the increasing popularity of electric vehicles (EVs) and renewable energy storage systems. As the demand for batteries rises to support transportation and energy applications, the need for efficient recycling solutions becomes critical to recover valuable materials and reduce environmental impact.

Governments around the world are implementing regulations and initiatives to encourage battery recycling and ensure environmentally responsible disposal, which is expected to accelerate market growth. The U.S. emerged as the largest market in North America in 2023, driven by rising EV sales, federal and state-level policies, and the presence of key industry players. For instance, the Responsible Battery Recycling Act of 2022 in California mandates that each battery retailer establish a system for collecting used rechargeable batteries for recycling and reuse, thereby supporting sustainable practices and increasing recycling volumes.

Key Market Trends & Insights

• Asia Pacific is expected to account for the largest revenue share of over 40.0% in 2023, supported by rapid industrialization, high adoption of EVs, and growing renewable energy projects in countries like China, India, Australia, and Japan. These nations are projected to witness high growth rates owing to rising demand from expanding end-use industries, such as automotive, electronics, and energy storage.
• Based on chemistry, the lead-acid segment dominated the market with a revenue share of more than 84.0% in 2023, reflecting the widespread use of lead-acid batteries in automotive and industrial applications, and the mature recycling infrastructure available for this battery type.
• Based on application, the transportation segment dominated the market for the largest revenue share of more than 73.0% in 2023, as the adoption of electric vehicles and hybrid vehicles continues to surge globally, increasing the volume of used batteries requiring recycling.

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Market Size & Forecast

• 2023 Market Size: USD 1.83 Billion
• 2030 Projected Market Size: USD 17.08 Billion
• CAGR (2024-2030): 37.6%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

Market is highly competitive and consolidated due to the presence of a large number of well-established players. Dominant trend in operations of these battery recycling companies includes collaborations, mergers & acquisitions, and expansions, which facilitate competition in the industry.

In November 2023, Redwood Materials announced their expansion for battery recycling in line with the increasing demand for recycling of electric vehicle batteries.

Key Players

• Call2Recycle
• Exide Technologies
• Gravita India Ltd.
• Glencore
• Cirba Solutions
• American Battery Technology Company
• Gopher Resource
• East Penn Manufacturing Co.
• Aqua Metals

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Conclusion

The global battery recycling market is expected to experience exponential growth due to the rapid adoption of electric vehicles and renewable energy storage systems, which increase battery usage and disposal. Government regulations, such as the Responsible Battery Recycling Act in the U.S., and initiatives across Asia Pacific are driving sustainable practices and industry expansion. Lead-acid batteries and the transportation sector remain dominant contributors, reflecting high demand and established recycling processes. With growing environmental awareness, supportive policies, and technological advancements in recycling methods, the market is positioned for significant long-term growth, ensuring recovery of valuable materials and reduction of ecological impact through 2030.