Report Id: SNS/AUTO/1638 | June 2022 | Region: Global | 120 Pages
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.
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.
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.
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.
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, 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 % 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.
By Battery Type:
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|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|
|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.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 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
9. Global Electric Vehicle Battery Recycling Market Segmentation, by Application
9.2 Consumer electronics
10. Regional Analysis
10.2 North America
10.2.1 the USA
10.3.2 the UK
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
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
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