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

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:

• Battery
• Flooded
• Sealed
• AGM
• Gel
• Product
• Lead
• Sulfuric Acid
• Others
• Source
• Motor Vehicles
• UPS
• Telecom Stations
• Electric Power
• Watercraft
• Aircraft
• Military
• Oil & Gas
• Stand-alone Systems
• Others 
• Region
• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Germany
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Colombia
• Rest Latin America
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa

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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

Liquid Metal Battery Market - Based on metal composition in battery, the liquid metal battery market can be segmented into Mg-Sb battery, Pb-Sb battery, and Na-S battery. Sodium-sulfur (Na-S) batteries are partially molten-metal batteries. They can be used for storing energy for renewable applications, load leveling, or providing backup source. Raw materials required for producing Na-S batteries are relatively inexpensive; they are also abundantly available. However, the lifespan of Na-S battery is short due to degradation caused by the corrosive nature of its active ingredients viz. sodium and sulfur. Furthermore, usage of Na-S batteries has been limited to large-sized applications.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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