Electric vehicle battery recycling involves recovering materials from lithium-ion batteries that have reached the end of their useful lives in electric vehicles. The process helps recover valuable materials such as lithium, cobalt, nickel, and other rare earth materials. With surging adoption of electric vehicles, the amount of spent lithium-ion batteries from vehicles is increasing substantially each year, generating the need for an established recycling infrastructure.
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 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Increasing battery waste from electric vehicles due to rising EV sales and aging lithium-ion batteries is a key market trend driving the electric vehicle battery recycling market. As electric vehicles gain more popularity, their lithium-ion batteries eventually reach the end of their useful lives and require replacement. Proper recycling helps recover over 90% of the materials in these batteries such as cobalt, nickel, and lithium rather than being disposed as waste. This recovers valuable and scarce materials and promotes a circular economy. Recycled materials from spent EV batteries can be reused in the production of new lithium-ion batteries.
Segment Analysis
The global Electric Vehicle Battery Recycling market is dominated by lithium-ion battery chemistry segment. Lithium-ion batteries are extensively used in electric vehicles, smartphones, laptops, and other consumer electronics. Their recycling requires specialized process due to safety issues involved in handling and recycling of lithium. As adoption of electric vehicles continues to gain pace globally, lithium-ion batteries production is also growing at a significant rate. This will subsequently boost the volume of waste lithium-ion batteries, driving the need for effective recycling.
Key Takeaways
The global Electric Vehicle Battery Recycling Market Demand is expected to witness high growth. The market is projected to grow at a CAGR of over 6.3% during the forecast period of 2023 to 2030. By 2023 the market size is estimated to reach US$ 2.4 Bn .
Regional analysis:
Asia Pacific region currently dominates the global market and is expected to maintain its leading position over the forecast period. High availability of recyclable batteries from e-mobility and consumer electronics sectors in countries such as China, South Korea, and Japan is contributing to regional market growth. Growing EV adoption in China and presence of leading battery recyclers in the region also supports market growth.
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.
Koninklijke DSM NV is one of the largest producers of nutritional products and industrial chemicals. The company has a strong product portfolio for lithium-ion battery recycling through its specialty recycling materials.
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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/
