| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 19.31 Billion |
| Market Size (2030) | USD 33.22 Billion |
| CAGR (2025 - 2030) | 11.46 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Battery Recycling Market Analysis
The Battery Recycling Market size is estimated at USD 19.31 billion in 2025, and is expected to reach USD 33.22 billion by 2030, at a CAGR of 11.46% during the forecast period (2025-2030).
Factors such as the increasing adoption of electric vehicles, rising concerns over battery waste disposal, and stringent government policies are likely to drive the battery recycling market in the forecast period.
On the other hand, higher costs, lack of a strong supply chain, and low yield related to battery recycling are expected to hinder market growth in the coming years.
Nevertheless, technological innovations in battery recycling strategies create tremendous opportunities for market development.
Europe is expected to be the fastest-growing market during the forecast period due to the rising number of battery applications. This growth is due to the growing battery usage in electric vehicles (EVs).
Battery Recycling Market Trends
The Lithium-ion Battery Segment is Expected to Witness Significant Growth
- Lithium-ion battery technology has gained prominence, particularly in the automobile (EV) and renewable energy industries. Low pricing and favorable chemistry enhanced technology demand. A lithium battery has a lifetime of three to four years, after which it can be recycled and replaced with a new one.
- According to the International Energy Agency Electric Vehicle Outlook Report, more than 14 million electric cars (BEV and PHEV) were sold worldwide in 2023, and sales are expected to grow by another 35% in 2024 to reach 17 million. This significant growth in electric cars' share of the overall car market rose from around 4% in 2020 to 18% in 2023. The rise in electric vehicles is likely to give impetus to the battery recycling market, as there is a need for Li-ion batteries to be recycled during the forecast period.
- The companies across the world are launching various projects to enhance battery recycling. For instance, in June 2023, the Advanced Materials and Manufacturing Technologies (AMMTO) branch of the US Department of Energy announced that USD 2 million would be allocated to programs for the rejuvenation, recycling, and reuse of lithium-ion batteries run by the ReCell Center at Argonne National Laboratory (ANL).
- Additionally, in December 2023, the UAE's Ministry of Energy & Infrastructure, BEEAH, the Middle East's provider of innovative and sustainable solutions, and Lohum Cleantech Pvt. Ltd (Lohum), India's top battery recycling company, inked a deal to construct the country's first electric vehicle (EV) battery recycling facility. According to the terms of the joint development agreement, Lohum will establish an 80,000-square-foot facility for recycling and refurbishing lithium batteries. This facility is anticipated to recycle 3000 tons of lithium-ion batteries annually and convert 15 MWh of battery capacity into sustainable energy storage systems (ESS).
- Furthermore, to cut costs and boost efficiency in the recycling processes, leading industry participants like Umicore, Glencore PLC, Cirba Solutions, Raw Materials Company Inc. (RMC), and RecycLiCo Battery Materials Inc. are employing various technological advancements. This is expected to lead to an increase in battery recycling in the future.
- Therefore, government initiatives to boost battery recycling activities and lithium-ion battery utilization for electric vehicles and energy storage systems are anticipated to drive the global lithium-ion battery recycling market during the forecast period.
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Europe Expected to Witness Faster Growth
- The battery recycling market has been witnessing continuous growth in Europe due to the blooming start-ups in the field. Other big drivers for battery recycling are the growing electric vehicle market and energy storage projects in the region.
- According to the International Energy Agency (IEA), in 2023, battery electric vehicle sales were recorded at 2.2 million, an increase of 4.95 times compared to 2019. The number has risen significantly as countries worldwide focus on NET zero carbon emission targets and replace hydrocarbons with clean fuel energy sources.
- According to the Statistical Review of World Energy Data, in Europe, electricity generation reduced by 3.5% in 2022, compared to 2021, due to the maintenance of several solar and wind channels across the region. The majority of electricity generation comes from renewable sources of energy. The difference between generations and consumption is increasing every year, and this is likely to increase the demand for battery recycling during the forecast period.
- The lithium-ion battery recycling market in France is experiencing significant growth due to several factors. One of the primary drivers of growth is the country's strong focus on sustainable energy and transportation practices. For instance, in March 2023, Li-Cycle announced its plans to build a 10,000 mt/year lithium-ion battery recycling facility in Harnes, France. The facility is expected to be completed by 2024 and will boost capacity by up to 25,000 mt/year in the following years.
- Similarly, in March 2023, Altilium Metals announced plans to accelerate the development of the country’s largest lithium-ion recycling plant, with a capacity of nearly 30,000 tonnes per year. The battery storage capacity in the United Kingdom was 2.3 GW as of 2022. As a part of the national battery storage target, about 20 GW of power will be installed by 2030. This signifies an opportunity for various public and private developers to invest in battery energy storage projects.
- Spain has set a target of portable battery collection for recycling to 45% in 2023, 63% in 2027, and 73% in 2030, and for batteries from light means of transport, the target is set at 51% in 2028 and 61% in 2031. An increase in battery collection is a necessary step for the proper recycling of batteries.
- As the energy storage market continues to grow in Europe, there will be a significant impact on the battery recycling market. With more and more households and businesses investing in energy storage solutions to store excess solar energy or to use during peak hours, the demand for batteries will increase, leading to an increase in the volume of batteries that need to be recycled.
- Owing to such developments, Europe is expected to witness significant growth in the coming years.
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Battery Recycling Industry Overview
The battery recycling market is moderately fragmented. Some of the major players in the market (in no particular order) include Umicore SA, Glencore PLC, Eco-Bat Technologies Ltd, Li-Cycle Holdings Corp., and Exide Industries Limited.
Battery Recycling Market Leaders
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Glencore PLC
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Li-Cycle Holdings Corp.
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Exide Industries Limited
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Umicore SA
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Eco-Bat Technologies Ltd
- *Disclaimer: Major Players sorted in no particular order
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Battery Recycling Market News
- December 2023: Toyota and Criba Solution entered a partnership to expand the recycling network, involving the gathering, storing, examining, and handling of batteries to support the growing electric vehicle (EV) industry. The aim was to reduce Toyota's transportation and logistics costs for used batteries by 70% while also cutting down on emissions related to transportation. Additionally, this process is expected to enable the recovery of up to 95% of essential minerals.
- December 2023: One of India's top sustainable energy transition materials producers, LOHUM Cleantech, expanded into the UAE market by establishing one of the first EV battery recycling plants in the country in partnership with the Ministry of Energy & Infrastructure, UAE, and BEEAH. This supports the country’s COP28 agenda, Net Zero by 2050 Strategic Initiative, Circular Economy Policy, and emissions-free mobility goals.
- October 2023: ACE Green Recycling (ACE) entered a Cooperative Research and Development Agreement (CRADA) with the United States Department of Energy's National Renewable Energy Laboratory (NREL) to enhance and refine ACE's eco-friendly and affordable lithium-ion battery recycling technology. This partnership was to improve the recycling process for graphite, lithium-iron phosphate (LFP), and other cathode-active materials.
Battery Recycling Industry Overview
Battery recycling is the practice of reusing and reprocessing batteries to reduce the quantity disposed of as material waste. Batteries comprise several poisonous chemicals and heavy metals, and their disposal has attracted environmental concerns due to contamination of water and soil. As such, batteries need recycling to comply with environmental and health benefits.
The battery recycling market is segmented by battery type and geography. By battery type, the market is segmented into lead-acid battery, nickel-based battery, lithium-ion battery, and other battery types. The report also covers the market size and forecasts across major regions.
The report offers the market size and forecasts for each segment based on revenue (in USD).
| Battery Type | Lead-Acid Battery | ||
| Nickel Battery | |||
| Lithium-ion battery | |||
| Other Battery Types | |||
| Geography | North America | United States | |
| Canada | |||
| Rest of North America | |||
| Europe | Germany | ||
| France | |||
| United Kingdom | |||
| Italy | |||
| Spain | |||
| NORDIC | |||
| Turkey | |||
| Russia | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Japan | |||
| Australia | |||
| Malaysia | |||
| Thailand | |||
| Indonesia | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| South America | Brazil | ||
| Argentina | |||
| Chile | |||
| Colombia | |||
| Rest of South America | |||
| Middle East and Africa | Saudi Arabia | ||
| United Arab Emirates | |||
| South Africa | |||
| Qatar | |||
| Egypt | |||
| Nigeria | |||
| Rest of Middle East and Africa | |||
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Battery Recycling Market Research Faqs
How big is the Battery Recycling Market?
The Battery Recycling Market size is expected to reach USD 19.31 billion in 2025 and grow at a CAGR of 11.46% to reach USD 33.22 billion by 2030.
What is the current Battery Recycling Market size?
In 2025, the Battery Recycling Market size is expected to reach USD 19.31 billion.
Who are the key players in Battery Recycling Market?
Glencore PLC, Li-Cycle Holdings Corp., Exide Industries Limited, Umicore SA and Eco-Bat Technologies Ltd are the major companies operating in the Battery Recycling Market.
Which is the fastest growing region in Battery Recycling Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Battery Recycling Market?
In 2025, the Asia-Pacific accounts for the largest market share in Battery Recycling Market.
What years does this Battery Recycling Market cover, and what was the market size in 2024?
In 2024, the Battery Recycling Market size was estimated at USD 17.10 billion. The report covers the Battery Recycling Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Battery Recycling Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Battery Recycling Industry Report
Statistics for the 2025 Battery Recycling market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Battery Recycling analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
