According to “Electric Vehicle Battery Recycling Market 2019 Global Industry Analysis To 2025” research report published by Market Research Future, The Global Electric Vehicle Battery Recycling Market to grow at 19% CAGR and reach USD 3 Billion during 2019 to 2025. Electric Vehicle Battery Recycling Market is segmented by Battery Type (lead acid, lithium-ion and others), Process (Pyrometallurgical, Hydrometallurgical and others), Application (Passenger Car and Commercial Vehicle) and Region – Forecast till 2025.
Electric Vehicle Battery Recycling Market Key Players Analyzed In Report:
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).
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Electric Vehicle Battery Recycling Market Synopsis:
Battery recycling is a process that aims to reduce the number of batteries being disposed as municipal solid waste. A battery contains several types of heavy metals and toxic chemicals and disposing of them without proper recycling raises serious environmental pollutions. There are several types of batteries, such as nickel–cadmium (Ni-Cd), nickel metal hydride (Ni-MH), lithium-ion (Li-ion), and nickel-zinc (Ni-Zn), available for electric vehicles. The battery lifespan varies with the battery type, battery capacity, degradation effect, technology innovation, and individual driving and charging behaviors. At present, the average lifespan of a battery is up to 15 years as compared to those batteries sold in year 2010 lifespan ranging from 3 to 8 years. Pyrometallurgy and Hydrometallurgy are the two recycling methods.
The global electric vehicle battery recycling market is estimated to reach USD 3 Billion by 2025 and is projected to witness 19% CAGR during the forecast period. The developing electric vehicle infrastructure in countries, such as China, Germany, South Korea, Japan, and the US, the global increase in production and sales of electric cars, growth in demand for thermal cooling solutions in vehicles, stringent emission and fuel efficiency regulations, and the demand for energy-efficient battery-powered devices are the key factors driving this market. Furthermore, the growing focus to reduce the uses of natural resources for battery manufacturing is likely drive the growth of this market.
The lack of battery recycling infrastructure in emerging market and the high cost to setup recycling plant are the key factors restraining the growth of this market. However, the 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 provide growth opportunities to the global markets players to increase the electric vehicle battery recycling market size.
Global Electric Vehicle Battery Recycling Market Segmentation:
The global electric vehicle battery recycling market is segmented based on battery type, process, vehicle type, and region. Based on type, the global market has been segmented into lead acid, lithium-ion, and others. Based on process, the global market has been segmented into pyrometallurgical, hydrometallurgical, and others. Based on application, the global market has been segmented into passenger car and commercial vehicle.
Regional Analysis of Electric Vehicle Battery Recycling Market:
Geographically, the global electric vehicle battery recycling market has been segmented as North America, Asia-Pacific, Europe, and the rest of the world. In 2018, the market was led by Asia-Pacific, followed by Europe. The market in Asia-Pacific is expected to hold the largest market share owing to the increase in the production and sales of e-vehicles and electric car battery cooling systems during the forecast period. Furthermore, the increasing investments by public and private players to develop the electric vehicle battery recycling industry in China, Japan, Australia, Vietnam, and India and the rise in demand for safety features in vehicles add to the growth of the market in this region. In Asia-Pacific, China is expected to hold the largest share and is projected to grow rapidly during the forecast period due to presence of large consumer base who have recognized the benefits of car battery disposal.
North America is witnessing growth due to factors, such as investments in research and development, rising government support for the development of car battery recycling and EV battery recycling plants, and the demand for environment-friendly vehicles contribute to the battery sales large potential consumer base in the US and Canada.
The European Union (EU) enacted laws covering regulations on vehicle emissions in the UK, France, and other countries and has already announced their timelines for creating zero-emission zones, which increases the demand for electric cars, driving the demand for electric car battery recycling. This results in the development of battery recycling plants to manage the overall demand and reduced electric car battery disposal pollution across the region.
- 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
- Government and industry associations
- State or government-owned corporations
- Research organizations
Table of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Application
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Electric Vehicle Battery Recycling Market, By Battery Type
5.2. Lead Acid
5.2.1. Market Estimates & Forecast, 2019–2025
5.2.2. Market Estimates & Forecast, By Region, 2019–2025
5.3.1. Market Estimates & Forecast, 2019–2025
5.3.2. Market Estimates & Forecast, By Region, 2019–2025
5.4.1. Market Estimates & Forecast, 2019–2025
5.4.2. Market Estimates & Forecast, By Region, 2019–2025
6. Global Electric Vehicle Battery Recycling Market, By Process
6.2.1. Market Estimates & Forecast, 2019–2025
6.2.2. Market Estimates & Forecast, By Region, 2019–2025
6.3.1. Market Estimates & Forecast, 2019–2025
6.3.2. Market Estimates & Forecast, By Region, 2019–2025
6.4.1. Market Estimates & Forecast, 2019–2025
6.4.2. Market Estimates & Forecast, By Region, 2019–2025
7. Global Electric Vehicle Battery Recycling Market, By Application
7.2. Passenger Car
7.2.1. Market Estimates & Forecast, 2019–2025
7.2.2. Market Estimates & Forecast, By Region, 2019–2025
7.3. Commercial Vehicle
7.3.1. Market Estimates & Forecast, 2019–2025
7.3.2. Market Estimates & Forecast, By Region, 2019–2025
8. Global Electric Vehicle Battery Recycling Market, By Region
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