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Market Drivers
The auto industry is rapidly evolving. This rapid expansion is attributable to lithium-ion batteries, which are currently used to power electric vehicles. Moreover, as the end of life approaches for developed electric vehicle batteries, organisations are actively recycling them for economic and environmental benefits. An electric vehicle battery is a rechargeable battery that uses chemical energy. No combustion engine is required for propulsion. In addition, when they reach the end of their useful life, they are replaced and recycled.
For environmental sustainability, recycling is essential. During this process, batteries that have reached their end of life are stripped of their valuable components and recycled to maximise the use of limited metal resources. The metals extracted from spent batteries include cobalt, aluminium, lithium, and others.
Studies show that the electric vehicle battery reuse and recycling market is expected to grow at a compound annual growth rate of 41.8 percent between 2018 and 2025. The major industry players in the electric vehicle battery reuse and recycling market are ACCUREC recycling, Battery Solutions, American Manganese Inc, and Umicore. Based on region, North America dominates the industry, followed by Europe and Asia-Pacific.
The top factor driving the market's growth is the increasing demand for zero-emission vehicles. Market consumers are now more environmentally conscious than ever. People want to play their part in saving the environment and are willing to do whatever they can to achieve environmental sustainability, as evidenced by the increasing demand for environmental-friendly vehicles.
The auto industry is evolving fast. The rapid growth is due to lithium-ion batteries, which are now being used to power electric vehicles. Moreover, as developed electric vehicle batteries are approaching the end of life, organizations are actively recycling them to address economic and environmental benefits. An electric vehicle battery is a rechargeable battery that uses chemical energy. It doesn’t require a combustion engine for propulsion. Furthermore, when they reach their end-of-life, they are replaced by new ones and recycled.
Recycling is essential for environmental sustainability. During this process, valuable materials inside the batteries that have reached end-of-life are recovered and recycled to optimize the use of finite metal resources. The metals recovered from the end-of-life batteries include cobalt, aluminum, lithium, etc.
Studies show that the electric vehicle battery reuse and recycling market is expected to grow at a compound annual growth rate of 41.8 % between 2018 and 2025. The major industry players in the electric vehicle battery reuse and recycling market are ACCUREC recycling, Battery Solutions, American Manganese Inc, and Umicore. Based on region, North America dominates the industry, followed by Europe and Asia-Pacific.
The increasing demand for zero-emission vehicles is the top factor driving the market's growth. Market consumers are now more environmentally conscious than ever. People want to play their part in saving the environment. They are willing to do whatever they can to achieve environmental sustainability. And it is visible to see as the demand for environmental-friendly vehicles increases.
Key players
Companies worldwide are efficiently partnering to recycle metals and create lithium-ion batteries cost-efficiently. For example, Kemetco partnered with American Manganese to develop commercially scalable lithium-ion battery technology. This technology is both cost and environmentally friendly. Moreover, it is expected to satisfy lithium’s global demand by 9 percent.
Besides this, over 66 percent of EV batteries will be recycled in China. This is perhaps because the cost of doing business in China is comparatively low. If companies don’t seek partnerships with Chinese counterparts, the growth may slow down because of the high cost of setting up recycling plants.
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Electric Vehicle Battery Reuse and Recycling Market Report Coverage
| Report Attributes | Details |
| Market Size in 2021 | $XXBN |
| Market Size Projection in 2028 | $XX BN |
| CAGR (2018-2025) | 41.8 % |
| Largest Market | North America |
| Growth Drivers | Increasing use of lithium-ion batteries in power electric vehicles, Increasing demand for zero-emission vehicles, Rise in the demand for recycled materials and products |
| Segmentation | By Battery Type, By EV Type, By End Use, By Region |
| Regional Analysis | North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa) |
| Key Companies Covered | Accurec-Recycling GmbH, BMW Group, China Lithium Battery Technology Co., Ltd. (CALB), Nissan Motor, Tesla and Toshiba Corp. |
Segmentations
By Battery Type
- Lithium-Ion Batteries
- Lithium Battery Chemistry
- Construction of Lithium-Ion Batteries
- A Thorough Method for Recycling Lithium-Ion Batteries Used in 1 Recycling Process for Spent Lithium-Ion Battery
- Lithium-Ion Battery Manufacturers
- Nickel-Metal Hydride Batteries
- Recycling Nickel-Metal Hydride Batteries
- Consumer Electronics
- Electric Vehicles
- Lead-Acid Batteries
- Recycling of Lead-Acid Batteries
By EV Type
- Battery Electric Vehicle (BEV)
- Key Components of Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Operation of Hybrid Electric Vehicles
- Key Components of a Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Operation of Plug-In Hybrid Electric Vehicle (PHEV)
- Key Components of a Plug-In Hybrid Electric Car (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
- Key Components of Fuel Cell Electric Vehicle (FCEV)
By End Use
- Passenger Car
- Economics
- Environmental Factors
- Key Factors Boosting Passenger Electric Vehicle Sales
- Commercial Vehicle
- Types of EV Trucks
- Energy Storage
- Vehicle-to-Grid (V2G) technology
- Batteries for Electric Cars and Energy Storage
- Consumer Electronics
Key questions answered in this report
- COVID 19 impact analysis on global Electric Vehicle Battery Reuse and Recycling industry.
- What are the current market trends and dynamics in the Electric Vehicle Battery Reuse and Recycling market and valuable opportunities for emerging players?
- What is driving Electric Vehicle Battery Reuse and Recycling market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger mark et share and why?
- Are low and middle-income economies investing in the Electric Vehicle Battery Reuse and Recycling market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Electric Vehicle Battery Reuse and Recycling and spending worldwide
- Recent trends across different regions in terms of adoption of Electric Vehicle Battery Reuse and Recycling across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)
Table of Content:
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Information Sources
Methodology
Geographic Breakdown
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Introduction
Developments in Lithium-Ion Batteries (LIBs)
Definition of Electric Vehicle Battery Reuse and Recycling
Reuse
Recycling
Technological Background and Advancements
Industry Concept
Importance of the Industry
Market Overview of the Electric Vehicle Industry
Market Dynamics
Drivers
Restraints
Opportunity
Challenges
Trends
Chapter 4 Impact of COVID-19
Influence on Electric Vehicle Manufacture and Sales
Impact of COVID-19 on the Electric Vehicle Market
Impact of COVID-19 on the Market for EV Charging Stations
Chapter 5 Value/Supply Chain Analysis
Introduction
Value Chain Analysis
Raw and Processed Materials
Cell Component Manufacturing
Cell Manufacturing
Battery Pack Manufacturing
Electric Vehicles Manufacturing
Recycling
…………….. ToC continued
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