The electric vehicle battery recycling market deals in recycling and reusing lithium-ion batteries used in electric vehicles once their usable life comes to an end. These batteries help power EVs, reducing dependence on fossil fuels. Recycling spent batteries allows recovery of materials like cobalt, lithium, nickel, and manganese to manufacture new batteries, lowering production costs and minimizing environmental impact.
The global electric vehicle battery recycling market is estimated to be valued at US$ 2.77 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth Accelerated by strict regulations
Strict regulations around the world require auto makers and consumers to responsibly dispose of or recycle spent lithium-ion batteries once they reach the end of their life. Both the European Union and China have enacted laws mandating battery recycling targets to increase from the current levels. For instance, the EU’s directive on batteries requires recycling efficiencies of 50%, 65% and 70% for lead-acid, nickel-cadmium and other battery chemistries, respectively, by 2025. Such stringent norms are driving more spent batteries into the recycling stream, boosting the volumes handled by recyclers. As the EV market expands over the coming years riding climate action policies, recovery and recycling of batteries will form a growing business vertical within this industry.
Segment Analysis
The Global Electric Vehicle Battery Recycling Market Size is dominated by the lithium-based batteries sub-segment. Lithium-based electric vehicle batteries, such as lithium-ion batteries, account for the majority share of the market currently as they are widely used in electric vehicles owing to advantages such as high energy density and longer lifespan. Being expensive and having growing concerns over ethical sourcing of materials such as cobalt and lithium used in them, recycling of lithium-based EV batteries provides an economically viable and sustainable solution.
Key Takeaways
The global electric vehicle battery recycling market is expected to witness high growth over the forecast period of 2024 to 2031 driven by factors such as the rising sales of electric vehicles worldwide and stringent regulations regarding disposal of used batteries. The global electric vehicle battery recycling market is estimated to be valued at US$ 2.77 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific currently dominates the global electric vehicle battery recycling market and is expected to continue its lead over the forecast period. This can be attributed to the presence of leading EV markets such as China and growing EV adoption in other countries in the region such as India and Japan. With more EVs on roads, there is a higher potential for used batteries reaching their end-of-life stage in Asia Pacific.
Key players
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/
