Report Scope & Overview:
Electric Vehicle Battery Recycling Market Size was valued at USD 11.62 billion in 2022 and is expected to reach USD 21.19 billion by 2030 and grow at a CAGR of 7.8% over the forecast period 2023-2030.
Recycling batteries is crucial not only for the recovery of valuable materials and metals but also for the effective management of trash in an effort to reduce dangerous environmental consequences. This is because recycling batteries allow for the recovery of precious materials and metals. The utilization of reclaimed metal in the production of recycled batteries has the potential to contribute significantly to the reduction of CO2 emissions as well as the energy requirements associated with mining. When the first automobile was invented, batteries were already in widespread usage as a supplementary source of electricity.
Electric vehicle batteries, also known as traction batteries, are what provide the juice for the motors in battery-powered electric vehicles currently on the market. The battery that is used in electric vehicles is a secondary battery that can be recharged. It gets its power from chemical energy that is stored in rechargeable battery packs, and as a result, it does not require any kind of combustion engine in order to move forward. After reaching what is referred to as their "end of life," these batteries are discarded in favor of brand-new ones. When one of these batteries reaches the end of its useful life, the precious components that it contains can be extracted and recycled, thereby maximizing the utilization of limited metal resources.
In 2022, The opening of the revolutionary battery recycling plant built by Li-Cycle.
MARKET DYNAMICS:
KEY DRIVERS:
The global industry for recycling electric vehicle batteries is exploding.
Development of transportation infrastructure.
A rise in the need for thermal cooling solutions to increasingly strict emissions & fuel economy regulations.
There is a pressing demand for more environmentally friendly battery-powered gadgets.
Increasing demand for recycled items and materials.
RESTRAINTS:
Electric vehicle sales are in decline as consumers refrain from purchasing them due to the increased costs.
High cost of setting up recycling facilities and the re-use of EV batteries.
OPPORTUNITIES:
Increasing attention on the use of less natural resources in battery production.
As the battery supply chain expands, the economy benefits.
The battery recycling sector is made possible by the huge recycling gap & subsidies to encourage battery recycling.
CHALLENGES:
The battery recycling supply chain was disrupted because of restrictions on travel and import-export.
Because raw materials are limited & expensive, battery companies are controlling their supply.
IMPACT OF COVID-19:
As a result of the current coronavirus scenario, every firm is undergoing significant adjustments. During the lockdown, when every store was closed, there was not a single customer who expressed interest in purchasing an electric vehicle. Only the healthcare industry is doing well during these difficult times; all other industries are expected to suffer significant losses. The lack of available workers forced the closure of major manufacturing facilities. Out of fear of contracting the sickness, all of the workers fled back to the countries from where they originated. Therefore, both during the lockdown and in the year 2020, there was a significant disruption to online business. It is anticipated that by the year 2022, once the immunization procedure has been established, things would have returned to their usual state.
KEY MARKET PLAYERS:
ACCUREC Recycling GmbH (Germany), G & P Batteries (UK), Battery Solutions (US), Li-Cycle Corp. (Canada), Recupyl (France), American Manganese (Canada), Retriev Technologies (US), Snam S.p.A. (Italy), Australian Battery Recycling Initiative (Australia), and Umicore N.V.(Belgium) are some of the major players in the Electric Vehicle Battery Recycling Market.
MARKET ESTIMATION:
Market, By Battery Type:
The market is divided into two categories based on the kind of battery type: Lithium-ion, Lead-acid, Nickel, and Others. With a market share of 91.6 percent in 2021, the lead-acid sector was the most dominant. Over 97% of the lead in a typical lead-acid battery may be recycled throughout the manufacturing process. The market for lead-acid battery recycling is expected to rise in the coming years because of these advantages.
Market, By Application:
The market is divided into applications, which are further divided into Transportation, Consumer Electronics, and Industrial. In 2021, the transportation sector accounted for a share that was equivalent to 64.2% of the total. A total of 58.0 million automobiles were sold across the globe, which is a 3.9 percent rise in comparison to the previous year.
MARKET SEGMENTATION:
By Battery Type:
Lithium-ion
Lead-acid
Nickel
Others
By Application:
Transportation
Consumer electronics
Industrial
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REGIONAL ANALYSIS:
In order to further analyze the market for recycling batteries from electric vehicles, it has been segmented into four geographic regions: North America, Asia Pacific, Europe, and the rest of the world. According to the trends that have been seen in the electric car battery recycling industry, the market is now being dominated by Asia and the Pacific. According to some estimates, the Asia-Pacific region maintains the biggest market share.
Because of the many elements involved, it is anticipated that the market income for recycling batteries used in electric vehicles would rise in North America. These drivers include investments in research and development; growing government support for the development of car battery recycling; and the establishment of EV battery recycling operations. The expanding potential consumer base in the United States and Canada is driven, in large part, by the need for automobiles that are less harmful to the environment.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 11.62 Billion |
| Market Size by 2030 | US$ 21.19 Billion |
| CAGR | CAGR of 7.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Battery Type (Lithium-ion, Lead-acid, Nickel, Others) • by Application (Transportation, Consumer Electronics, Industrial) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ACCUREC Recycling GmbH (Germany), G & P Batteries (UK), Battery Solutions (US), Li-Cycle Corp. (Canada), Recupyl (France), American Manganese (Canada), Retriev Technologies (US), Snam S.p.A. (Italy), Australian Battery Recycling Initiative (Australia), and Umicore N.V.(Belgium) |
| Key Drivers | •The global industry for recycling electric vehicle batteries is exploding. •Development of transportation infrastructure. |
| RESTRAINTS | •The global industry for recycling electric vehicle batteries is exploding. •Development of transportation infrastructure. |
USD 11.62 Billion is the market value in 2022.
The COVID-19 having negative impact on the market the detailed study is provide on final report.
The Asia Pacific region high share of the Electric Vehicle Battery Recycling Market
The forecast period of the Electric Vehicle Battery Recycling Market is 2022-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Electric Vehicle Battery Recycling Market Segmentation, by Battery Type
8.1 Lithium-ion
8.2 Lead-acid
8.3 Nickel
8.4 Others
9. Global Electric Vehicle Battery Recycling Market Segmentation, by Application
9.1 Transportation
9.2 Consumer electronics
9.3 Industrial
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 the USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 the UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Sitrasa,
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 ACCUREC Recycling GmbH (Germany)
11.3 G & P Batteries (UK)
11.4 Battery Solutions (US)
11.5 Li-Cycle Corp. (Canada)
11.6 Recupyl (France)
11.7 American Manganese (Canada)
11.8 Retriev Technologies (US)
11.9 Snam S.p.A. (Italy)
11.10 Australian Battery Recycling Initiative (Australia)
11.11 Umicore N.V.(Belgium)
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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