SMM News: a few days ago, Research And Markets, an international market research organization, released a battery recycling report saying that the global battery recycling market will grow by US $4.4 billion from 2019 to 2025, with a compound annual growth rate of 5.9 per cent during the period.
In terms of battery type, the compound growth rate of lead-acid batteries will exceed 6.1% during the forecast period. The lead-acid battery recycling market is expected to exceed US $8.2 billion by 2025, providing an important driver for the growth of the global battery recycling market.
From the regional market point of view, although battery recycling will sweep the entire market, but in the regional market, the United States will maintain a 5% growth momentum during the forecast period.
The European region will also become one of the important battery recycling markets. Of these, Germany will contribute $174.8 million to the size and impact of battery recycling in the region over the next five to six years. Overall, however, emerging markets in Eastern Europe will generate more than $450 million in demand for battery recycling in Europe.
In Asia, Japan's lead-acid battery recycling market is expected to exceed $500 million by 2025. China's battery recycling market, the world's second-largest economy, is expected to grow at a steady rate of 8.5 per cent over the forecast period, with a market size expected to reach $1.2 billion.
"Click to sign up for this summit
Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business