Global Electric Vehicle Battery Recycling Market- Forecast And Analysis (2020-2027)


Global Electric Vehicle Battery Recycling Market- Forecast and Analysis (2020-2027)

Global Electric Vehicle Battery Recycling Market was valued at USD 191.09 Mn in 2019 and is expected to reach at USD 2,000.72 Mn by 2027 at a CAGR of 34.12% over forecast period 2020-2027.


Global Electric Vehicle Battery Recycling Market



Global Electric Vehicle Battery Recycling Market

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The report covers an in depth analysis of COVID 19 pandemic impact on Global Electric Vehicle Battery Recycling Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Electric Vehicle Battery Recycling Market Dynamics;

The environmental benefits of EV battery reuse relate to extending the lifespan of the battery and reducing the demand for virgin materials to manufacture new EV batteries. EV battery recycling secures supplies of metal such as cobalt which is essential for EV battery production using current technologies. Various factors such as increasing demand for electric vehicles, stringent local and state government regulations and EPA guidelines, rising demand for recycled products and materials and increasing subsidies to encourage battery recycling are driving the global electric vehicle battery recycling market over forecast period. Rising investments in the development of electric vehicles are expected to create lucrative opportunities for the lithium-ion battery recycling market.

The electric vehicle battery recycling industry facing various economic and technical challenges such as design complexity, due to the numerous metals needed to manufacture a product as well as their low quantity and concentration. These properties are a challenge for the technical ability of recycling, and are one of the reasons that recycling is hardly profitable.

Global Electric Vehicle Battery Recycling Market is segmented by application and by region. By application, the electric buses segment held 38.67% of market share in 2019 and is expected to keep its dominance over forecast period. This is attributed to the growing adoption of alternative fuel technologies in commercial vehicles such as buses, which offer zero emission, better acceleration, and quiet operation. Electric buses segment is followed by energy storage systems segment and electric cars. Energy storage systems is expected to grow at a CAGR of 41.45% over forecast period, on account of remanufacturing of lithium-ion batteries to provide a second-life with 70–80% charging capabilities. Moreover, of this segment is further supplemented by the availability of finite metal resources and the surge in middle-class employment.

By geography, North America held 41.54% of market share in 2019 and is expected to keep its dominance over forecast period. The presence of major electric vehicle manufacturers in the region such as Tesla, General Motors Company, and Ford Motor Company, among others, ensures a continuous supply of EVs leading to the accumulation of end-of-life LIBs, thereby propelling the electric vehicle recycling market. North America is followed by APAC and Europe. APAC is expected to hold xx% of market over forecast period. Asian countries account for the majority of global electric battery production: 95% overall, with 53% coming from China, 17% from South Korea and 20% from Japan. Asia is also dominant in producing battery materials (metals, cathodes and precursors notably) and recycling equipment. As a consequence, these countries have an integrated industry covering all segments of the value chain, with secured supplies and economies of scale.

Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. These key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, strategic alliances, expansion, joint ventures, new product launches, patent and diversification to increase regional presence and business opeartions.

The objective of the report is to present a comprehensive analysis of the Global Electric Vehicle Battery Recycling Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Electric Vehicle Battery Recycling Market dynamics, structure by analyzing the market segments and project Global Electric Vehicle Battery Recycling Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Electric Vehicle Battery Recycling Market make the report investor’s guide.



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Global Electric Vehicle Battery Recycling Market by Application

• Electric Cars
• Electric Buses
• Energy Storage Systems
• Others
Global Electric Vehicle Battery Recycling Market by Region

• North America
• Europe
• MEA& Africa
• South America
Global Electric Vehicle Battery Recycling Market Major Players

• ACCUREC Recycling GmbH
• American Manganese Inc.
• Battery Solutions
• G & P Service
• Recupyl
• Retriev Technologies
• Umicore
• Glencore International AG (Switzerland)
• International Metals Reclamation Company
• Retriev Technologies (US)

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Keywords: global electric vehicle battery recycling


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