The Electric Vehicle Battery Recycling Market Size was valued at USD 8.98 billion in 2023 and is expected to reach USD 57.04 billion by 2031 and grow at a CAGR of 26% over the forecast period 2024-2031.
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.
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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.
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
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.
By Battery Chemistry Type:
Lithium Iron Phosphate
Lithium Manganese Oxide
Lithium Nickel Manganese Cobalt
Lithium Titanate Oxide
Lithium Nickel Cobalt Aluminum Oxide
By Process:
Pyrometallurgy Process
Hydrometallurgy Process
Physical/Mechanical Process
By Sources:
Passenger
Commercial
E-bikes
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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
KEY PLAYERS:
ERAMET, Contemporary Amperex Technology Co., Limited, Glencore , Stena Recycling, Ace Green Recycling, Inc., Li-Cycle Corp. (Canada), Fortum, Umicore N.V.(Belgium), Neometals Ltd, Redwood Materials Inc.are some of the major players in the Electric Vehicle Battery Recycling Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 8.98 Billion |
| Market Size by 2031 | US$ 57.04 Billion |
| CAGR | CAGR of 26% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Battery Chemistry Type (Lithium Iron Phosphate, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt, Lithium Titanate Oxide, Lithium Nickel Cobalt Aluminum Oxide) • By Sources (Passenger, Commercial, E-bikes) |
| 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 | ERAMET, Contemporary Amperex Technology Co., Limited, Glencore , Stena Recycling, Ace Green Recycling, Inc., Li-Cycle Corp. (Canada), Fortum, Umicore N.V.(Belgium), Neometals Ltd, Redwood Materials Inc |
| 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 8.98 Billion is the market value in 2023.
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 2024-2031.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Electric Vehicle Battery Recycling Market Segmentation, By Battery Chemistry Type
9.1 Introduction
9.2 Trend Analysis
9.3 Lithium Iron Phosphate
9.4 Lithium Manganese Oxide
9.5 Lithium Nickel Manganese Cobalt
9.6 Lithium Titanate Oxide
9.7 Lithium Nickel Cobalt Aluminum Oxide
10. Electric Vehicle Battery Recycling Market Segmentation, By Process
10.1 Introduction
10.2 Trend Analysis
10.3 Pyrometallurgy Process
10.4 Hydrometallurgy Process
10.5 Physical/Mechanical Process
11. Electric Vehicle Battery Recycling Market Segmentation, By Sources
11.1 Introduction
11.2 Trend Analysis
11.3 Passenger
11.4 Commercial
11.5 E-bikes
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Electric Vehicle Battery Recycling Market by Country
12.2.3 North America Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.2.4 North America Electric Vehicle Battery Recycling Market By Process
12.2.5 North America Electric Vehicle Battery Recycling Market By Sources
12.2.6 USA
12.2.6.1 USA Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.2.6.2 USA Electric Vehicle Battery Recycling Market By Process
12.2.6.3 USA Electric Vehicle Battery Recycling Market By Sources
12.2.7 Canada
12.2.7.1 Canada Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.2.7.2 Canada Electric Vehicle Battery Recycling Market By Process
12.2.7.3 Canada Electric Vehicle Battery Recycling Market By Sources
12.2.8 Mexico
12.2.8.1 Mexico Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.2.8.2 Mexico Electric Vehicle Battery Recycling Market By Process
12.2.8.3 Mexico Electric Vehicle Battery Recycling Market By Sources
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Electric Vehicle Battery Recycling Market by Country
12.3.2.2 Eastern Europe Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.3 Eastern Europe Electric Vehicle Battery Recycling Market By Process
12.3.2.4 Eastern Europe Electric Vehicle Battery Recycling Market By Sources
12.3.2.5 Poland
12.3.2.5.1 Poland Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.5.2 Poland Electric Vehicle Battery Recycling Market By Process
12.3.2.5.3 Poland Electric Vehicle Battery Recycling Market By Sources
12.3.2.6 Romania
12.3.2.6.1 Romania Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.6.2 Romania Electric Vehicle Battery Recycling Market By Process
12.3.2.6.4 Romania Electric Vehicle Battery Recycling Market By Sources
12.3.2.7 Hungary
12.3.2.7.1 Hungary Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.7.2 Hungary Electric Vehicle Battery Recycling Market By Process
12.3.2.7.3 Hungary Electric Vehicle Battery Recycling Market By Sources
12.3.2.8 Turkey
12.3.2.8.1 Turkey Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.8.2 Turkey Electric Vehicle Battery Recycling Market By Process
12.3.2.8.3 Turkey Electric Vehicle Battery Recycling Market By Sources
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.2.9.2 Rest of Eastern Europe Electric Vehicle Battery Recycling Market By Process
12.3.2.9.3 Rest of Eastern Europe Electric Vehicle Battery Recycling Market By Sources
12.3.3 Western Europe
12.3.3.1 Western Europe Electric Vehicle Battery Recycling Market by Country
12.3.3.2 Western Europe Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.3 Western Europe Electric Vehicle Battery Recycling Market By Process
12.3.3.4 Western Europe Electric Vehicle Battery Recycling Market By Sources
12.3.3.5 Germany
12.3.3.5.1 Germany Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.5.2 Germany Electric Vehicle Battery Recycling Market By Process
12.3.3.5.3 Germany Electric Vehicle Battery Recycling Market By Sources
12.3.3.6 France
12.3.3.6.1 France Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.6.2 France Electric Vehicle Battery Recycling Market By Process
12.3.3.6.3 France Electric Vehicle Battery Recycling Market By Sources
12.3.3.7 UK
12.3.3.7.1 UK Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.7.2 UK Electric Vehicle Battery Recycling Market By Process
12.3.3.7.3 UK Electric Vehicle Battery Recycling Market By Sources
12.3.3.8 Italy
12.3.3.8.1 Italy Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.8.2 Italy Electric Vehicle Battery Recycling Market By Process
12.3.3.8.3 Italy Electric Vehicle Battery Recycling Market By Sources
12.3.3.9 Spain
12.3.3.9.1 Spain Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.9.2 Spain Electric Vehicle Battery Recycling Market By Process
12.3.3.9.3 Spain Electric Vehicle Battery Recycling Market By Sources
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.10.2 Netherlands Electric Vehicle Battery Recycling Market By Process
12.3.3.10.3 Netherlands Electric Vehicle Battery Recycling Market By Sources
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.11.2 Switzerland Electric Vehicle Battery Recycling Market By Process
12.3.3.11.3 Switzerland Electric Vehicle Battery Recycling Market By Sources
12.3.3.1.12 Austria
12.3.3.12.1 Austria Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.12.2 Austria Electric Vehicle Battery Recycling Market By Process
12.3.3.12.3 Austria Electric Vehicle Battery Recycling Market By Sources
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.3.3.13.2 Rest of Western Europe Electric Vehicle Battery Recycling Market By Process
12.3.3.13.3 Rest of Western Europe Electric Vehicle Battery Recycling Market By Sources
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Electric Vehicle Battery Recycling Market by Country
12.4.3 Asia-Pacific Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.4 Asia-Pacific Electric Vehicle Battery Recycling Market By Process
12.4.5 Asia-Pacific Electric Vehicle Battery Recycling Market By Sources
12.4.6 China
12.4.6.1 China Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.6.2 China Electric Vehicle Battery Recycling Market By Process
12.4.6.3 China Electric Vehicle Battery Recycling Market By Sources
12.4.7 India
12.4.7.1 India Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.7.2 India Electric Vehicle Battery Recycling Market By Process
12.4.7.3 India Electric Vehicle Battery Recycling Market By Sources
12.4.8 Japan
12.4.8.1 Japan Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.8.2 Japan Electric Vehicle Battery Recycling Market By Process
12.4.8.3 Japan Electric Vehicle Battery Recycling Market By Sources
12.4.9 South Korea
12.4.9.1 South Korea Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.9.2 South Korea Electric Vehicle Battery Recycling Market By Process
12.4.9.3 South Korea Electric Vehicle Battery Recycling Market By Sources
12.4.10 Vietnam
12.4.10.1 Vietnam Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.10.2 Vietnam Electric Vehicle Battery Recycling Market By Process
12.4.10.3 Vietnam Electric Vehicle Battery Recycling Market By Sources
12.4.11 Singapore
12.4.11.1 Singapore Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.11.2 Singapore Electric Vehicle Battery Recycling Market By Process
12.4.11.3 Singapore Electric Vehicle Battery Recycling Market By Sources
12.4.12 Australia
12.4.12.1 Australia Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.12.2 Australia Electric Vehicle Battery Recycling Market By Process
12.4.12.3 Australia Electric Vehicle Battery Recycling Market By Sources
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.4.13.2 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market By Process
12.4.13.3 Rest of Asia-Pacific Electric Vehicle Battery Recycling Market By Sources
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Electric Vehicle Battery Recycling Market by Country
12.5.2.2 Middle East Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.3 Middle East Electric Vehicle Battery Recycling Market By Process
12.5.2.4 Middle East Electric Vehicle Battery Recycling Market By Sources
12.5.2.5 UAE
12.5.2.5.1 UAE Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.5.2 UAE Electric Vehicle Battery Recycling Market By Process
12.5.2.5.3 UAE Electric Vehicle Battery Recycling Market By Sources
12.5.2.6 Egypt
12.5.2.6.1 Egypt Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.6.2 Egypt Electric Vehicle Battery Recycling Market By Process
12.5.2.6.3 Egypt Electric Vehicle Battery Recycling Market By Sources
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.7.2 Saudi Arabia Electric Vehicle Battery Recycling Market By Process
12.5.2.7.3 Saudi Arabia Electric Vehicle Battery Recycling Market By Sources
12.5.2.8 Qatar
12.5.2.8.1 Qatar Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.8.2 Qatar Electric Vehicle Battery Recycling Market By Process
12.5.2.8.3 Qatar Electric Vehicle Battery Recycling Market By Sources
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.2.9.2 Rest of Middle East Electric Vehicle Battery Recycling Market By Process
12.5.2.9.3 Rest of Middle East Electric Vehicle Battery Recycling Market By Sources
12.5.3 Africa
12.5.3.1 Africa Electric Vehicle Battery Recycling Market by Country
12.5.3.2 Africa Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.3.3 Africa Electric Vehicle Battery Recycling Market By Process
12.5.3.4 Africa Electric Vehicle Battery Recycling Market By Sources
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.3.5.2 Nigeria Electric Vehicle Battery Recycling Market By Process
12.5.3.5.3 Nigeria Electric Vehicle Battery Recycling Market By Sources
12.5.3.6 South Africa
12.5.3.6.1 South Africa Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.3.6.2 South Africa Electric Vehicle Battery Recycling Market By Process
12.5.3.6.3 South Africa Electric Vehicle Battery Recycling Market By Sources
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.5.3.7.2 Rest of Africa Electric Vehicle Battery Recycling Market By Process
12.5.3.7.3 Rest of Africa Electric Vehicle Battery Recycling Market By Sources
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Electric Vehicle Battery Recycling Market by country
12.6.3 Latin America Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.6.4 Latin America Electric Vehicle Battery Recycling Market By Process
12.6.5 Latin America Electric Vehicle Battery Recycling Market By Sources
12.6.6 Brazil
12.6.6.1 Brazil Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.6.6.2 Brazil Electric Vehicle Battery Recycling Market By Process
12.6.6.3 Brazil Electric Vehicle Battery Recycling Market By Sources
12.6.7 Argentina
12.6.7.1 Argentina Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.6.7.2 Argentina Electric Vehicle Battery Recycling Market By Process
12.6.7.3 Argentina Electric Vehicle Battery Recycling Market By Sources
12.6.8 Colombia
12.6.8.1 Colombia Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.6.8.2 Colombia Electric Vehicle Battery Recycling Market By Process
12.6.8.3 Colombia Electric Vehicle Battery Recycling Market By Sources
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Electric Vehicle Battery Recycling Market By Battery Chemistry Type
12.6.9.2 Rest of Latin America Electric Vehicle Battery Recycling Market By Process
12.6.9.3 Rest of Latin America Electric Vehicle Battery Recycling Market By Sources
13. Company Profiles
13.1 ERAMET
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Contemporary Amperex Technology Co., Limited
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Glencore
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Stena Recycling
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Ace Green Recycling, Inc
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Li-Cycle Corp
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Fortum
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Umicore N.V
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Neometals Ltd
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Redwood Materials Inc
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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