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Global Secondary Battery Recycling Market to Grow as Electric Vehicles Gain Popularity

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Published on : Jul 08, 2020

Despite the rechargeability of secondary batteries, they can run obsolete in the long run. Once these batteries lose their ability to undergo electric resurrection, they do not contribute toward power generation. Therefore, the only option left with owners and industrial units is to recycle these batteries into new and workable forms.

The total demand within the global secondary battery recycling market is set to trace an ascending trajectory in the years to follow. Use of secondary batteries across a multitude of industries has garnered the attention of the market vendors. Rechargeable batteries are amongst the most sought-after technologies in these times of energy crisis.

A report added by ResearchMoz on the global secondary battery recycling market throws light on some of the leading drivers of market demand. Advancements in renewable energy production have played a critical role in popularising battery recycling technologies. Besides, need for manufacturing smart electronic devices has compelled companies to resort to the use of secondary batteries. Therefore, there is little contention about the emergence of new growth streams within the secondary battery recycling market.

Redundancy of Secondary Batteries

Long life of secondary batteries has helped in popularising them across the chemical and electrical industries. Furthermore, presence of a stellar sector for analysis and testing of these batteries has also contributed towards improving the energy standards of several industries. Despite these perks of using secondary batteries, they go down as industrial waste once they become redundant.

Therefore, recycling of these batteries is an important requirement for maintaining proper energy standards across several industries. The use of secondary battery recycling shall help energy scientists in achieving the objectives of their research and analysis. Primal focus on management of industrial waste has contributed towards the growth of the global secondary battery recycling market.

Supremacy of Secondary Batteries over Primary Batteries

Dry cells are used across a wide array of industries, and the abundance of the former has been a matter of importance for industrial heads. Moreover, scientists have elucidated and propounded several benefits of secondary batteries over primary batteries. The short life span of primary batteries has led all major industries to employ secondary batteries for their power operations.

Henceforth, the total volume of revenues within the global secondary battery recycling market is set to touch new heights in the following years. Lithium-ion batteries are amongst the most popular types of secondary batteries, and the relevance of the former in renewable energy production has aided market growth. other important secondary batteries are lead acid and nickel-cadmium batteries.

Advancements in Recycling Technologies

The next decade is slated to witness increased investments in recycling technologies. The focus of energy scientists on industrial sustainability has brought battery recycling under the spotlight of attention. Furthermore, fuel cells used across commercially-affluent industries have also stayed at the forefront of market growth. Use of secondary battery recycling for increasing the life of end-products shall also drive demand within the global market. Applications of these batteries span into key industries such as defense, automotive, energy, and electronics.

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Emergence of Electric Vehicles

The domain of automobile manufacturing has embraced electric cars as its latest value proposition. The development of smart and electric vehicles has been an outcome of rigorous research and analysis. Lithium-ion batteries have emerged as the most successful battery type for electric vehicles. The durability and performance of these batteries shall play a pivotal role in driving sales across the electric vehicle segment. However, lithium-ion batteries are bound to expire in the long run. The need to recycle these batteries shall create fresh opportunities for vendors within the global market.

Some of the key players operating in the global secondary battery recycling market are Exide Technologies, Call2Recycle, and Gravita India.