Electric Vehicle Battery Re-Use and Recycling Market

Global Electric Vehicle Battery Re-Use and Recycling Market is valued at USD 1.4 Billion in 2021 and expected to reach USD 10.3 Billion by 2028 with a CAGR of 32.9% over the forecast period.

Global Electric Vehicle Battery Re-Use and Recycling Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Consistent rise in sale of electric vehicles (EV), increasing demand for zero-emission vehicles, and emergence of new processes are some of the major factors driving the growth of the Global Electric Vehicle Battery Re-Use and Recycling Market.

Scope of Global Electric Vehicle Battery Re-Use and Recycling Market

In the EV business, lithium-ion batteries are commonly utilized. The existence of environmentally hazardous substances prompted a need for recycling previously used batteries. These batteries are reused in a variety of additional applications, including EV charging stations, energy storage, and base station power sources. The majority of the batteries utilized in the aforementioned applications do not match the specifications for battery applications in the EV sector.

A passenger automobile is a road motorized vehicle, other than a moped or a motorcycle, built for the carrying of passengers and seating not and over nine persons, including the driver. Due to the growing distances between places like home, work, schools, and recreational and retail centers, mobility is becoming more and more important. Cars have become the most common mode of transportation, with the typical European driving almost 12,000 kilometers each year.

Over 70% of trips are taken by automobile, whether by individual taxi, car, or carsharing. Rapid industrialization and urbanization increase the use of passenger automobiles for a variety of reasons. The growing public knowledge of the environmental benefits of electric passenger vehicles has fueled demand for EVs. The existence of steady growth in demand has prompted the world's leading automobile manufacturers to offer a variety of passenger vehicles, which is expected to stimulate demand for EV batteries. Manufacturers are investing in battery reuse for sustainability as a result of this demand and the global decline in material supplies.

The beginning of the fiscal year 2020 saw a global coronavirus outbreak. The COVID-19 epidemic resulted in large-scale lockdowns in various countries, causing the temporary stoppage of several commercial operations, and affecting the EV battery reuse and recycling sector. Following the pandemic crisis, prominent electric car manufacturers developed electric vehicles of different varieties, since there is a huge requirement for eco-friendly automobiles following the pandemic breakout due to an increase in environmental consciousness among the population. Furthermore, advancements in different technologies employed in EVs are another driver promoting the global electric vehicle battery re-use and recycling market growth.

The global Electric Vehicle Battery Re-Use and Recycling market are segmented based on the EV Type, end-use, and region & country level. Based on EV Type, the global Electric Vehicle Battery Re-Use and Recycling market is segmented into electric, hybrid vehicle, and others. By end-use, the global Electric Vehicle Battery Re-Use and Recycling market is segmented into consumer electronics, automotive, energy storage, and others.

The regions covered in the global Electric Vehicle Battery Re-Use and Recycling market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Electric Vehicle Battery Re-Use and Recycling is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global Electric Vehicle Battery Re-Use and Recycling Market Segmentation

By EV Type:

• Electric
• Hybrid Vehicle
• Others

By End-Use:

• Consumer Electronics
• Automotive
• Energy Storage
• Others

Key Players of Global Electric Vehicle Battery Re-Use and Recycling Market

Some major key players for the global Electric Vehicle Battery Re-Use and Recycling market report cover prominent players like

• Battery Solutions Inc
• Aqua Metals
• Enersys
• Call2Recycle
• Accurec recycling GmbH
• Snam S.P.A
• G&P Batteries
• American Manganese Inc.
• Retriev Technologies
• Li-Cycle Corp
• Umicore N.V.
• others.

News

Orano develops its electric vehicle battery recycling project

On May 20, 2022; Orano created an initiative to recycle EV (electric vehicle) batteries. Orano is using its adaptability in the battery recycling process to create a new breakthrough low-carbon technique for collecting and purifying important elements such as cobalt, nickel, lithium, graphite, and manganese from old battery modules for reuse in new components.

MG Motor India successfully recycles its first EV battery

On December 21, 2021; In India, MG Motor effectively recycled its first electric vehicle battery. It has teamed up with Attero Recycling Technology to reuse and recycle lithium-ion batteries for its ZS electric car. Attero Recycling Technology has made it possible to remove 99% of the metals from lithium-ion batteries.

Consistent rise in sale of electric vehicles (EV), increasing demand for zero-emission vehicles, and emergence of new processes are Some of the Major Factors Driving the Market Growth

Increased EV sales are projected to drive the development of the EV battery reuse and recycling market in the coming years. Electric vehicles (EVs) are automobiles that are partly or entirely powered by electricity and feature a battery that drives an electric motor. EV batteries include various minerals that are recovered from recycled end-of-life EV batteries and utilized to make new batteries for electric cars.

For instance, the International Energy Agency, a Paris-based independent international body, anticipated that worldwide sales of EVs, which comprise plug-in hybrid and fully electric vehicles, reached 6.6 million units in 2021. In addition, the total number of EVs on the road globally in 2021 was 16.5 million. As a result, the growth in electric car sales is increasing demand for the EV battery reuse and recycling industry.

The development of new procedures is a crucial trend that is gaining traction in the EV battery reuse and recycling market. Major EV battery recycling businesses are exploring new and novel ways to extract precious battery materials. For instance, in March 2022, Ascend Elements, a producer of innovative battery materials in the United States, and Koura, a manufacturer of fluoro products in the United States, have collaborated to create a novel technique dubbed Hydro-to-Anode, which can reclaim 99.9% pure graphite off spent batteries. The recovered graphite has the same quality as virgin graphite and may be utilized to make new batteries. The usage of this technology is inexpensive and allows for the economic recycling of lithium-ion (Li-ion) cells, as well as reducing the need for mining new minerals.

The automobile business is rapidly changing. Lithium-ion batteries, that are utilized to power electric cars, are responsible for this rapid expansion of the market. Furthermore, as the life cycle of developed electric car batteries approaches, organizations are constantly recycling them for environmental and economic advantages. An EV battery is a rechargeable that operates on chemical energy. Propulsion does not need the use of a combustion engine. Furthermore, after they have served their purpose, they are replaced and recycled.

Asia Pacific is Expected to Capture a Major Share in the Global Electric Vehicle Battery Re-Use and Recycling Market

Within the projected period, Asia Pacific is predicted to lead the global electric vehicle battery re-use and recycling market. The rise in buying power, along with changing attitudes toward electric transportation, is expected to push the Asia Pacific EV battery reuse market. Due to the rising prevalence of EVs in these nations, Japan, China, India, AND South Korea are likely to emerge as significant markets for recycled EV batteries. As the world's biggest EV market, China is expected to retain its leadership in the EV battery reuse and recycle business. The increased number of EVs on the road is expected to raise the cost of essential materials used in batteries. India has limited lithium supplies, investment in battery recycling and reuse operations is required to make EVs viable. The aforementioned policies and investments will be important drivers driving market expansion in this region over the projected period.

Officials in the United States government stated that they want the United States to become the main market for electric cars by emphasizing local battery recycling. Through R&D activities, the US government is also searching for methods to decrease metal consumption in new battery chemistries.

By Regional & Country Level:

North America

• U.S
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 1.4 Billion
Base year considered	2021
Forecast Period CAGR %:	32.9%
Market Size Expected in 2028:	USD 10.3 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Solutions Inc., Aqua Metals, Enersys, Call2Recycle, Accurec recycling GmbH, Snam S.P.A., G&P Batteries, American Manganese Inc., Retriev Technologies, Li-Cycle Corp., Umicore N.V., and others.
Segments Covered	By EV Type, By End-Use.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa