IMARC Group, a leading market research company, has recently releases report titled “Electric Vehicle Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global electric vehicle battery recycling market trends, share, size, growth and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Electric Vehicle Battery Recycling
Electric vehicle battery recycling refers to collecting, disassembling, and reusing or repurposing the components of batteries used in electric vehicles (EVs). It reduces the need for mining and extracting raw materials, such as lithium and cobalt, conserves valuable resources, and minimizes environmental impact. It consumes less energy compared to producing new batteries from raw materials, making it more energy efficient. It prevents the risk of soil and water contamination, helps secure a stable supply of valuable raw materials, and aids in reducing dependency on imports. As a result, it is widely used in manufacturing new batteries and consumer electronics.
How Big Is the Electric Vehicle Battery Recycling Market?
The global electric vehicle battery recycling market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.2 Billion by 2032, exhibiting a growth rate (CAGR) of 24.9% during 2024-2032.
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What are the growth prospects and trends in the electric vehicle battery recycling industry?
The increasing adoption of EVs worldwide is generating a growing supply of end-of-life batteries, which, in turn, is catalyzing the demand for recycling solutions. Additionally, the rising environmental consciousness among individuals is driving the demand for sustainable products, including EVs with recyclable batteries.
Apart from this, ongoing innovations in battery recycling technologies are making the process more efficient and cost-effective. Furthermore, the governing authorities of several countries are implementing environmental regulations to reduce carbon emissions, which is encouraging the recycling of EV batteries to minimize their ecological impact.
Moreover, the rising collaborations between automakers, battery manufacturers, and recycling companies are accelerating the development of efficient recycling processes and supply chain integration.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Lithium-ion
- Lead-acid
- Others
Breakup by Process:
- Hydrometallurgical
- Pyro-metallurgical
- Others
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Application:
- Electric Cars
- Electric Buses
- Energy Storage Systems
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ACCUREC-Recycling GmbH
- American Manganese Inc.
- Battery Solutions
- G & P Batteries Limited
- Li-Cycle Corp.
- Retriev Technologies
- SITRASA
- SNAM Groupe (Floridienne)
- TES-Amm
- Umicore N.V.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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