Electric Vehicle Battery Recycling Market Research Report: Information, by Battery Type (lead acid, lithium-ion and others), Process (Pyrometallurgical, Hydrometallurgical and others), Application (Passenger Car and Commercial Vehicle) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2027
ID: MRFR/AM/6854-HCR | February 2021 | Region: Global | 100 pages
Electric Vehicle Battery Recycling Market Overview:
Electric vehicle battery recycling market is expected to grow exponentially, securing a substantial market valuation of USD 4 Billion by 2025 and a healthy 15% CAGR over the review period.
Are you wondering what battery recycling is all about? Here's the answer, battery recycling is the simple process of reducing the use of batteries that are being disposed of in the municipal solid waste sector. It is an effort to improve the use of eco-friendly electric vehicles with zero emission. Battery recycling aims to increase the lifespan of batteries by using ions and increasing their efficiency.
COVID 19 Analysis
As per the current situation of coronavirus every business is going through drastic changes. During the lockdown as every shop was shut down, no customer was interested in buying an electric car. During these tough times only the healthcare sector florist where other sectors face a big loss. Big industries were shut down due to the absence of labor. All the workers migrated to their native lands in the fear of the disease. Hence during the lockdown and in the year 2020, e-business was affected drastically. It is believed that with the initiation of the process of vaccination by the year 2022 things will get back to normal.
Competitive Landscape
The most prominent major key players in the electric vehicle battery recycling in the global market are as follows:
- ACCUREC Recycling GmbH (Germany)
- American Manganese Inc. (Canada)
- Battery Solutions (US)
- Li-Cycle Corp. (Canada)
- G & P Batteries (UK)
- Recupyl (France)
- Retriev Technologies (US)
- Australian Battery Recycling Initiative (Australia)
- Snam S.p.A. (Italy)
- Umicore N.V.. (Belgium)
These most prominent major key players in the electric vehicle battery recycling market in the global market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like developing the new production process, innovation in the existing product, collaborations, mergers, and acquisitions, establishing a joint venture, expansion of business, and partnership. These techniques help increase the customer base in the global potential market.
Recent Developments
eBikeGo, an Indian EV manufacturer, has launched a drive for recycling EV batteries made of lithium and lead acid. It is attempting to tie up with solar plant manufacturers for extending the lifecycle of batteries.
May 2021- Primobius has entered into an agreement with Stelco to establish a plant to extract as well as recycle battery metals from EVs in North America.
Development San made in terms of comprehensive information where businessmen have opted for various strategies of the top companies in the industry.
Also, their advancements with the broad study of all the different segments and regions make the electric vehicle battery recycling global market grow.
The current scenario of the market looks clear which includes the historic and forecasted market size in terms of value and volume Technology advancements macroeconomic and governing factors are just perfect.
Electric vehicle battery recycling global market size has also increased in both terms of quality and quantity with the respect to various industry experts and key opinion leaders.
Management of the overall demand is done and reduced electric car battery disposal pollution is triggering the demands of development in the electric vehicle battery recycling in the global market.
Market Dynamics
Drivers
The electric vehicle battery recycling global market is growing tremendously. Various factors drive the growth of this market. These factors include vehicle infrastructural development, increase in production and sales of electric cars, growth in demand for thermal cooling solutions in vehicle stringent emission and fuel efficiency regulation, and also the need for energy-efficient battery power devices.
Opportunities
The electric vehicle battery recycling global market is growing tremendously. Various factors provide an opportunity for this market. These opportunities include the growing focus on reducing the use of natural resources for battery manufacturing. In addition to this adoption of eco-friendly batteries, the rise and development of the battery supply chain improve the economy of developing countries and many more.
Restraints
The electric vehicle battery recycling global market is growing tremendously. Few restraints hinder the growth of this market. These restaurants include infrastructural development. Also, less adoption of electric cars due to higher expenses triggers the decline of this market.
Value Chain Analysis
The electric vehicle battery recycling global market is growing rapidly. There are various benefits of using electric vehicles such as the decrease in air pollution, creation of zero-emission areas. Also, these environment-friendly vehicles contribute to an increase in the lifespan of organisms, increase decomposition and reduce the use of natural resources.
Segmentation: Electric Vehicle Battery Recycling Market
The electric vehicle battery recycling in the global market has been segmented based on battery type process vehicle type and region into-
Based On The Type
The electric vehicle battery recycling in the global market has been divided based on the battery type into lead-acid, lithium ions, and others.
Based On The Process
The electric vehicle battery recycling in the global market has been divided based on the process into pyrometallurgical, hydrometallurgical, and others.
Based On The Application
The electric vehicle battery recycling in the global market has been divided based on application into passenger cars and commercial cars.
Based On The Region
The electric vehicle battery recycling in the global market has been divided based on region into North America, Asia-Pacific Pacific, Europe, and the rest of the world.
Regional Analysis
The electric vehicle battery recycling market has been divided based on region into North America, Asia Pacific, Europe, and the rest of the world. According to the electric vehicle battery recycling Industry trends, the market is led by the Asia Pacific. It is estimated that the Asia-Pacific holds the largest market share. The reason for this is the increasing production in sales of e vehicles in this region. More and more of the population of this region has electric car battery cooling systems. There are increasing investments by public and private players that are developing the electric vehicle battery recycling industry in countries such as China, Japan, Australia, Vietnam, and India. As per the market outlook, these countries also have high demand due to safety features in vehicles. All this adds up to the market value when the presence of a larger consumer base is recognized.
North America is expected to show an increase in electric vehicle battery recycling market revenue due to many factors. These factors include research and development investments, rising Government support for the development of car battery recycling and there are EV battery recycling plants established. The demand for environment-friendly vehicles contributes a major portion to the growing potential consumer base in the US and Canada.
European Union laws cover all the rules and regulations on vehicle emissions in the UK, friends, and other countries. These regions have announced timelines for creating zero-emission zones which increases the demand for electric cars even more. The overall development of battery recycling plants to manage the overall demand and reduced electric car battery disposal pollution has been the result of this introduction across the region.
Report Overview
The electric vehicle battery recycling global market research report consists of the following elements:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent Developments
- Intended Audience
This global electric vehicle battery recycling market research report consists of the factors that drive the market along with the factors that restrict the electric vehicle battery recycling in the global market. This report also contains various growth opportunities in the electric vehicle battery recycling in the global market during the forecasted period. The impact of COVID 19 on the electric vehicle battery recycling market is also estimated. The future growth rate of the electric vehicle battery recycling in the global market is mentioned
Intended Audience
The intended audience of electric vehicle battery recycling is as follows-
- Electric vehicle battery recycling manufacturers
- Electric vehicle battery recycling manufacturers, distributors, and suppliers
- State and national regulatory authorities
- Consulting companies in the automotive battery industry
- Investors/shareholders
- Government and industry associations
- State or government-owned corporations
- Research organizations
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: USD 4 Billion |
| CAGR | 15% CAGR (2020-2027) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Battery type, Process, Vehicle type, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | ACCUREC Recycling GmbH (Germany), American Manganese Inc. (Canada), Battery Solutions (US), Li-Cycle Corp. (Canada), G & P Batteries (UK), Recupyl (France), Retriev Technologies (US), Australian Battery Recycling Initiative (Australia), Snam S.p.A. (Italy), and Umicore N.V.. (Belgium). |
| Key Market Opportunities | Growing adoption of eco-friendly batteries, developing high-yield processes to recycle next-generation batteries, rise in development of battery supply chain along with recycling networks, and improving economies of developing countries |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The global electric vehicle battery recycling market will be reaching USD 5.6 Billion by 2027.
The market has a projection to witness 19% CAGR in the forecast period.
The lack of battery recycling infrastructure as well as the high cost to setup recycling plant are the restraining factors towards the growth of this market.
The battery type, process, vehicle type are the segments of the market.
North America is witnessing growth to the maximum market share.