NEW YORK, Nov. 24, 2021 /PRNewswire/ -- The lithium ion battery market in the US is characterized by the presence of a large number of vendors. To remain competitive in the market, vendors are deploying various organic and inorganic growth strategies. Some vendors are focused on launching new products and some are acquiring or forming alliances with other players to gain an edge in the market. For instance, in September 2021, Redwood Materials Inc. partnered with Ford Motor Company to create a circular supply chain for batteries and help partners across the electric vehicle and clean energy industries.
Technavio estimates the lithium-ion battery recycling market in US to grow by USD 45.71 million between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 21.21% over the forecast period.
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Factors such as increasing demand for electric vehicles and the rising demand for recycled products and materials in US will drive the growth of the market. However, safety issues related to the storage and transportation of lithium-ion batteries might hamper the market growth.
The presence of stringent government regulations and EPA guidelines will have a positive impact on the growth of vendors. On the other hand, the capital-intensive recycling infrastructure is expected to reduce the growth potential in the market.
Some of the companies covered in this report are American Battery Technology Co., American Zinc Recycling, Aqua Metals Inc., Battery Resourcers Inc., Heritage Environmental Services LLC, Li-Cycle Holdings Corp., Onto Technology LLC, Redwood Materials Inc., Retriev Technologies, and TES (Singapore) Pte Ltd.
The lithium-ion battery recycling market report includes the competitive analysis, which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
- By Source, the market is classified into non-mobility and mobility segments.
- By Process, the market is analyzed across hydrometallurgical and other segments.
The non-mobility segment generated maximum growth in the lithium-ion battery recycling market in US in 2020. Similarly, in terms of process, the market observed the highest growth in the hydrometallurgical segment in 2020. The market growth in these segments will be significant during the forecast period.
Lithium-Ion Battery Recycling Market In US Scope
Growth momentum & CAGR
Decelerate at a CAGR of 21.21%
Market growth 2022-2026
USD 45.71 million
YoY growth (%)
Performing market contribution
US at 100%
Key consumer countries
Leading companies, competitive strategies, consumer engagement scope
American Battery Technology Co., American Zinc Recycling, Aqua Metals Inc., Battery Resourcers Inc., Heritage Environmental Services LLC, Li-Cycle Holdings Corp., Onto Technology LLC, Redwood Materials Inc., Retriev Technologies, and TES (Singapore) Pte Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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