Growth Accelerated by Rising Battery Waste. Electric vehicle battery recycling refers to the repairing, reusing, and refurbishment or disposing of lithium-ion batteries that are used in electric vehicles. It helps recover valuable materials from spent batteries and reduces the environmental footprint of battery manufacturing.
The global Electric Vehicle Battery Recycling Market is estimated to be valued at Us$ 2.04 Bn In 2023 and is expected to exhibit a CAGR Of 6.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising battery waste is one of the key trends driving growth in the electric vehicle battery recycling market. As electric vehicle sales grow exponentially each year, tons of spent lithium-ion batteries reach their end of life and need to be recycled or disposed of properly. However, current recycling rates for lithium-ion batteries remain quite low globally, estimated to be around 5%. This has led to a buildup of battery waste piling up in landfills. In order to promote a circular economy and reduce environmental impact, several countries have implemented regulations mandating electric vehicle battery recycling. This is prompting battery manufacturers and electric vehicle OEMs to set up closed loop recycling programs and boost recycling rates. Such policy interventions are expected to accelerate the growth of the electric vehicle battery recycling market over the coming years.
Segment Analysis
The global electric vehicle battery recycling market is dominated by lithium-ion battery chemistry segment. Lithium-ion batteries account for over 80% of the batteries used in electric vehicles currently because of their high energy density and relatively low self-discharge. As more electric vehicles use lithium-ion batteries, their recycling is also increasing at a significant rate. The lithium recovered through lithium-ion battery recycling can be recycled and reused in the production of new batteries.
Key Takeaways
The Global Electric Vehicle Battery Recycling Market Demand is expected to witness high growth over the forecast period. The increasing sales of electric vehicles and higher battery capacity per vehicle is driving the need for battery recycling. Stringent government regulations regarding proper battery disposal and recycling are further boosting the market.
Regional analysis:
Asia Pacific currently dominates the global electric vehicle battery recycling market owing to the high production and adoption of electric vehicles in countries such as China. China has emerged as a global leader in electric vehicles and is taking initiatives to build a domestic recycling industry for spent lithium-ion batteries. Europe is also an important regional market for electric vehicle battery recycling supported by favorable regulatory framework around extended producer responsibility.
Key players operating in the electric vehicle battery recycling market are Synutra Inc., Darling Ingredients Inc., Archer Daniels Midland Company, BASF SE, Koninklijke DSM NV.
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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/
