The electric vehicles market is growing aggressively courtesy of fast technological advancements, surging pollution levels and depleting non-renewable sources of energy. The demand for electric vehicles has been constantly rising as people are turning towards owing to depleting non-renewable sources of energy. Courtesy of this, the demand for more advanced batteries is skyrocketing. Which type of battery will be used in an electric vehicle is completely dependent on ratio of power to weight. Considering this, batteries those weight lighter, and are durable and provide higher performance are being used extensively. The importance of recycling and reusing has gone up over the last decade. The global electric vehicles battery reuse and recycling market is taking giant steps on the path of development. Many countries have made resolution of bringing down level of emission and for this they are encouraging electric vehicle makers by rolling out favourable trade policies, this ultimately helps this market grow. Recycling of batteries used in electric vehicles is primarily dependant on two processes which is inclusive of pyrometallurgy or smelting and hydrometallurgy. This procedure majorly concentrates on recovering the cathode metal in a battery. One of the biggest factors that has been helping the global electric vehicles battery reuse and recycling market grow increasing production and sale of electric vehicles across the globe. On the other hand, the costs of batteries used in EVs will play a restraining factor for the growth of the global electric vehicle battery reuse and recycling market.
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The coronavirus pandemic proved helpful for the growth of the global electric vehicle battery reuse and recycling market. The severe impact of the pandemic that took lives of millions across the globe, made this society realize how important it is to ensure better environment for the coming generation. Top federal governments are promoting reusable batteries and creating a better market for advanced electric vehicles by cutting down costs in the form of any additional taxes.
By Organization Size, Large Enterprises segment will witness growth at fastest rate for the Global Electric Vehicle Battery Reuse and Recycling Market in 2022
Larger organizations will continue to dominate considering the volume of batteries recycled by them and further reused. The demand for EVs is likely to remain on the higher side and this would help this segment grow.
Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Global Electric Vehicle Battery Reuse and Recycling Market
Countries of India and China will emerge biggest market for electric vehicles. The federal governments in those countries are very serious about rising pollution levels in the capital cities of Delhi and Shanghai. Several domestic companies that manufacture electric vehicles (EV) are rising, and this is why affordable EVs are being rolled out.
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Some of the major players operating in the global electric vehicle battery reuse and recycling market are listed below:
- American Battery Technology Company
- Aqua Metals, Inc.
- BATTERY RESOURCERS
- Clarios
- COM2 Recycling Solutions
- Contemporary Amperex Technology Co., Limited
- East Penn Manufacturing Company
- ECOBAT Logistics
- Ecobat Technologies
- EnerSys
- Fortum
- Gopher Resource
- Li-Cycle Corp
- Northvolt AB
- RecycLiCo
- Retriev Technologies Inc.
- Redwood Materials, Inc
- Teck Resources Limited
- Terrapure Environmental
- The Doe Run Company
- Umicore
- Other Market Participants
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Global Electric Vehicle Battery Reuse and Recycling Market Segmentation
Global electric vehicle battery reuse and recycling market has been segmented by service type, battery type, organization size and end users which are further classified into respective countries:
Global Electric Vehicle Battery Reuse and Recycling Market Service Type Outlook (Revenue, USD Million, 2016 - 2030)
- Recycling Services
- Logistics Services
- Consulting Services
- Others
Global Electric Vehicle Battery Reuse and Recycling Market Battery Type Outlook (Revenue, USD Million, 2016 - 2030)
- Lithium-Ion Batteries
- Nickel-Metal Hydride Batteries
- Lead-Acid Batteries
- Others
Global Electric Vehicle Battery Reuse and Recycling Market Organization Size Type Outlook (Revenue, USD Million, 2016 - 2030)
- Small and Medium Enterprises
- Large Enterprises
Global Electric Vehicle Battery Reuse and Recycling Market End Users Type Outlook (Revenue, USD Million, 2016 - 2030)
- Waste Brokers and Municipal Waste Disposal Organisations
- Motor Vehicle Traders
- Electric Vehicle Manufacturers
- Battery Manufacturers
- Others
Global Electric Vehicle Battery Reuse and Recycling Market Regional Outlook (Revenue, USD Million, 2016 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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