Electric vehicle battery recycling involves collecting and processing used batteries from plug-in electric vehicles like electric cars, trucks, scooters, buses, forks, among others. Batteries contain heavy metals like lithium, cobalt, nickel and manganese which can cause damage to the environment if not disposed of properly. The recycling process recovers valuable materials from used batteries to manufacture new batteries, reducing waste and costs.
The global Electric Vehicle Battery Recycling Market is estimated to be valued at US$ 2.4 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of electric vehicles across the globe especially in regions like Europe and Asia Pacific is one of the major factors driving the growth of electric vehicle battery recycling market. With rising electric vehicle sales, the demand for recycling of used electric vehicle batteries is also increasing to ensure proper disposal. Various government regulations regarding disposal of used batteries and initiatives to set up battery recycling infrastructure is further boosting the electric vehicle battery recycling market. Manufacturers are also focusing on improving recycling processes to recover more materials from used batteries and increase their recycling rates.
Segment Analysis:
The electric vehicle battery recycling market is dominated by lithium-ion battery chemistry sub segment. Lithium-ion batteries account for over 60% of EV batteries production globally and their recycling is challenging compared to lead acid batteries. Due to complexity in recycling process and recovery of precious and scarce materials like lithium, cobalt, there is higher focus and demand for lithium-ion battery recycling.
Key Takeaways:
The Global Electric Vehicle Battery Recycling Market Analysis is expected to witness high. The stringent government policies regarding recycling of batteries used in automotive and deployment of electric vehicles worldwide is pushing the need for sustainable battery recycling infrastructure and facilities.
Regional analysis: Asia pacific region currently dominates the global EV battery recycling market with over 40% share, led by countries like China, Japan and South Korea. This is due to large automotive production and presence of key battery material refining companies in the region. However, Europe region is witnessing fastest growth and is expected to grow at around 8% during the forecast period due to strong government drives to develop circular economy practices for battery waste management in countries like Germany, France and UK.
Key players operating in the electric vehicle battery recycling market are ICF International, Inc., A.T. Kearney, Inc., McKinsey & Company, Inc., PricewaterhouseCoopers LLP (PwC), ERM Group, Inc., KPMG International, Coastal Risk Consulting, LLC, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), Deloitte LLP, Ramboll Environ, Inc. ICF leads the market with innovative collection and preprocessing facilities across major markets while Kearney is focussed on consulting services for battery waste management policies and infrastructure development projects globally.
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In 2018, the global Electric Vehicle Battery Recycling market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019–2025.This report focuses on the global Electric Vehicle Battery Recycling status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Electric Vehicle Battery Recycling development in United States, Europe and China.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-electric-vehicle-battery-recycling-2019-2025-922The key players covered in this studyUmicoreTeslaNissanToyotaBMWHondaLi-CycleBYDFordHyundai/KiaMarket segment by Type, the product can be split intoNickelcadmium Batterynickel?metal Hydride Batterylithium-ion Batterylithium Polymer Batterylead-acid CellMarket segment by Application, split intoAutomotive EnterprisesBattery EnterprisesOtherMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Electric Vehicle Battery Recycling status, future forecast, growth opportunity, key market and key players.To present the Electric Vehicle Battery Recycling development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Electric Vehicle Battery Recycling are as follows:History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025For the data information by region, company, type and application, 2018 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.Get the Complete Report & TOC @ https://www.grandresearchstore.com/ict-and-media/global-electric-vehicle-battery-recycling-2019-2025-922Table of content1 Report Overview1.1 Study Scope1.2 Key Market Segments1.3 Players Covered1.4 Market Analysis by Type1.4.1 Global Electric Vehicle Battery Recycling Market Size Growth Rate by Type (2014–2025)1.4.2 Nickel?cadmium Battery1.4.3 nickel?metal Hydride Battery1.4.4 lithium-ion Battery1.4.5 lithium Polymer Battery1.4.6 lead-acid Cell1.5 Market by Application1.5.1 Global Electric Vehicle Battery Recycling Market Share by Application (2014–2025)1.5.2 Automotive Enterprises1.5.3 Battery Enterprises1.5.4 Other1.6 Study Objectives1.7 Years Considered2 Global Growth Trends2.1 Electric Vehicle Battery Recycling Market Size2.2 Electric Vehicle Battery Recycling Growth Trends by Regions2.2.1 Electric Vehicle Battery Recycling Market Size by Regions (2014–2025)2.2.2 Electric Vehicle Battery Recycling Market Share by Regions (2014–2019)2.3 Industry Trends2.3.1 Market Top Trends2.3.2 Market Drivers2.3.3 Market Opportunities3 Market Share by Key Players3.1 Electric Vehicle Battery Recycling Market Size by Manufacturers3.1.1 Global Electric Vehicle Battery Recycling Revenue by Manufacturers (2014–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
