Electric Vehicle Battery Recycling Market Report 2024:
Market Overview:
Electric vehicle battery recycling involves recovering materials from lithium-ion batteries once they reach the end of their life cycle in electric vehicles. The recycled materials are then refined and re-introduced into the manufacturing supply chain.
Market Dynamics:
The electric vehicle battery recycling market is expected to grow owing to two key drivers – rising sales of electric vehicles and finite nature of raw materials used in lithium-ion batteries. Sales of electric vehicles have increased significantly over the past few years and this rising demand for EVs is creating a steady stream of retired EV batteries that need recycling. Moreover, lithium and cobalt used in lithium-ion batteries are finite resources and recycling helps ensure security and sustainability of supply. Recycling 1 ton of lithium-ion batteries can recover approximately $15,000 worth of valuable and scarce materials.
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Top Companies Covered In This Report:
Accurec Recycling GmbH, American Manganese Inc. Battery Solutions, Li-Cycle Corp., G & P Batteries, Recupyl, Retriev Technologies, Sitrasa, Floridienne (SNAM S.A.S.), and Umicore
Detailed Segmentation:
Global Electric Vehicle Battery Recycling Market, By Application
Electric Cars
Electric Buses
Energy storage systems
Others
Key Region/Countries are Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA).
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Major Driver: Increase in electric vehicle sales creating huge volumes of used batteries for recycling
As electric vehicle sales continue to rise exponentially throughout the world, it is creating enormous volumes of lithium-ion batteries that have reached their end of life. According to estimates, over 300,000 metric tons of lithium-ion batteries will need to be recycled by 2030 just from electric vehicles alone. Recycling these batteries in an environmentally friendly way is becoming imperative to support a circular economy. Since battery materials like lithium, cobalt, nickel and manganese make up a large portion of the cost and carbon footprint of electric vehicles, recycling helps reduce dependency on mining while supporting lower costs. Leading automakers are partnering with battery recycling companies and promoting take-back programs to encourage end of life battery collection and recycling.
Another Major Driver: Need to establish closed loop, sustainable supply chains for battery materials
Many of the key materials used in lithium-ion batteries like lithium, cobalt and nickel have geopolitical supply risks and mining practices that can damage the environment or use child labor. There is a growing push from automakers, battery manufacturers and regulators to establish closed loop and sustainable supply chains for electric vehicle batteries. Expanding battery recycling capabilities helps fuel a circular economy by recovering these critical materials from end of life batteries. It reduces dependency on mining imports while meeting responsible sourcing standards. Battery recyclers play a crucial role in closing these material loops and building robust recycling infrastructure is vital to scaling up closed loop supply chains for electric vehicles.
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The report answers a number of crucial questions, including:
Which companies dominate the global Electric Vehicle Battery Recycling market?
What current trends will influence the market over the next few years?
What are the market’s opportunities, obstacles, and driving forces?
What predictions for the future can help with strategic decision-making?
What advantages does market research offer businesses?
Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
What is the anticipated growth rate for the Electric Vehicle Battery Recycling market economy globally?
Some of the Major Points of TOC cover:
Chapter 1: Techniques & Scope
1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources
Chapter 2: Latest Trends Summary
2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends
Chapter 3: Electric Vehicle Battery Recycling Industry Insights
3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape
Chapter 4: Electric Vehicle Battery Recycling Market, By Region
Chapter 5: Company Profiles
5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook
Chapter 6: Assumptions and Acronyms
Chapter 7: Research Methodology
Chapter 8: Contact (Continue . . .)
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This release was published on openPR.
