Key Vendor in a 2017 Global Battery Recycling Market Report
Battery Solutions is named a one of the top five leading vendors in a global battery recycling market report, 2017-2021 by Technavio. The report highlights the competitive vendor landscape, key market drivers and global market growth.
Technavio estimates the 2016 global battery recycling market was worth $7.80 billion, increasing to $13.21 billion by 2021. We have seen an increase in our collection and recycling rates that demonstrates this growing market and our growing market share.
“Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are the key factors that confront the market.” says Thanikachalam Chandrasekaran, a lead energy storage research analyst from Technavio.
The challenges outline in the report are an accurate description of the battery recycling world. At Battery Solutions, we have an agile team to stay ahead of these challenges and even help shape the evolution and future of the battery recycling industry.
In addition to leading the battery recycling market, Battery Solutions in partnering with the University of Michigan to research the lithium-ion battery reuse market. Through testing a sample set of lithium-ion batteries deemed “ready for recycling”, we found 20% of those batteries still had 80% of their original capacity remaining.
These batteries are the perfect candidates for reuse in powering consumer goods, like laptops. Reusing batteries provides a lower cost of goods to the next user and preserves our natural resources by increasing the circulation of gently used rechargeable batteries.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.