Core Viewpoint - The lead-acid battery recycling industry in China is rapidly growing, driven by the "dual carbon" goals, with a projected recycling volume of 4.758 million tons by 2025, despite a slight decline in market scale due to falling recycling prices [1][9]. Overview - Waste lead-acid batteries are classified as hazardous waste, and their recycling involves a series of regulated processes to extract valuable materials like lead, plastic, and sulfuric acid, aiming for resource recycling and environmental protection [2][3]. Market Policy - The Chinese government has implemented various policies to support the recycling industry, emphasizing environmental protection and resource sustainability, which creates a favorable policy environment for the lead-acid battery recycling sector [4][5]. Industry Chain - The lead-acid battery recycling industry in China has established a closed-loop industry chain, focusing on upstream supply, midstream processing, and downstream resource application, with a trend towards intensive, resource-efficient, and green development [6][7]. Current Development - The recycling technology for lead-acid batteries has continuously evolved, achieving high maturity and resource utilization rates, with a significant and stable demand for scrap batteries driven by various applications in automotive, communication, and energy sectors [9]. Competitive Landscape - The lead-acid battery recycling industry is undergoing structural changes, with increasing compliance requirements and a concentration of market players. As of 2025, there are 2,210 companies in the industry, with no new entrants, indicating a trend towards consolidation and the exit of non-compliant operators [10][11]. Industry Representative Companies - Major players in the industry include South Power, Camel Group, and Yuguang Gold Lead, with significant processing capacities, such as South Power's 1.2 million tons and Camel Group's 860,000 tons per year [10][11]. Development Trends - The industry is expected to see increased regulatory scrutiny, pushing for compliance and standardization, while technological innovations will enhance recycling efficiency and environmental performance. The market will likely consolidate around leading companies, with smaller firms either exiting or becoming service providers [12][13][14].