Portland, April 30, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electric vehicle battery recycling market was estimated at $138.6 million in 2017 and is expected to hit $2,272.3 million in 2025, growing at a CAGR of 41.8% from 2018 to 2025. The research provides an in-depth analysis of top investment pockets, major segments, changing market dynamics, market size & forecasts, and competitive scenario.
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Finite metal resources, growth in demand for zero emission vehicles, growing demand for recycled products & material, and increase in employment have fueled the growth of the global vehicle battery recycling market. On the other hand, high cost to set up recycling plant has restrained the growth to some extent. Nevertheless, high recycling gap and subsidies to encourage battery recycling have created multiple opportunities in the segment.
Based on application, the electric buses segment accounted for the highest revenue in the global electric vehicle battery recycling market in 2017 and is expected to be dominant till 2025. The market is analyzed across various regions including North America, Asia-Pacific, Europe, and rest of Asia-Pacific. Asia-Pacific held the major market share in 2017, followed by Europe, North America, and LAMEA. Simultaneously, LAMEA is projected to grow at the highest CAGR during the study period.
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Leading market players analyzed in the report include American Manganese Inc., LI-CYCLE CORP., Battery Solutions, G & P Service, ACCUREC Recycling GmbH, Recupyl, Retriev Technologies, Umicore, SITRASA, and SNAM S.A.S. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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