The Battery Regulations has propelled the growth of the European batteries waste management market, according to new research.
Business research and consulting firm Frost & Sullivan published its research called European Batteries Waste Management Market (April 14). It found that the batteries market earned revenues of $10.3 million in 2009, and estimates this to reach $74m by 2016. The regions covered in this research included the UK, and countries such as Germany, France, Belgium, the Netherlands and Luxembourg and Spain.
Frost & Sullivan programme manager Suchitra Padmanabhan said: The new Battery Directive imposes collection targets and recycling efficiencies for all batteries and introduces extended producer responsibility as a regulatory instrument. Therefore, the transposition of this directive is expected to have a radical impact on the countries that are not yet forerunners in this field.
The firm also states that the intensifying volumes of waste batteries in Europe widen the scope of market opportunities for battery disposal services companies.
However, Frost & Sullivan state that the diverse nature of local legislation regarding batteries across the European Union has made the implementation as well as its potential interpretations extremely varied.
Waste management companies find it challenging to manage these variations arising from lack of clarity, unified registration and reporting requirements across member states in the EU, said Padmanabhan.
This has hampered development of an integrated unified waste management solution by these companies. Companies should establish their credentials as per EU legislation to compete with well-established leaders who dominate the market space, in order to gain substantial market share in this high growth market. Recycling capabilities and adherence to local and EU legislation are essential to succeed in this market.