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Rising Concern over Global Warming and Climate Change Expected to Propel the Growth of the Global Electric Vehicle Battery Recycling Market by 2028 - Exclusive Report [169 pages] by Research Dive

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Research Dive

28 Jul, 2021, 12:00 GMT

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- Global electric vehicle battery recycling market is expected to experience a significant growth during the forecast period. The Asia Pacific region is expected to lead the market by 2028.

NEW YORK, July 28, 2021 /PRNewswire/ -- Research Dive has published a report titled "Electric Vehicle Battery Recycling Market by Chemistry (Lead-acid Battery, Lithium-based Battery, Nickel-based Battery, and Others), Application (Electric Cars, Electric Buses, Energy Storage Systems, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".

The Global Electric Vehicle Battery Recycling Market is predicted to garner $13,299.6 million in the 2020–2028 timeframe, growing from $1,217.1 million in 2020 at a healthy CAGR of 37.1%.

Request to Download Sample Report of Electric Vehicle Battery Recycling Market

Electric Vehicle Battery Recycling Market Regional Outlook

The Asia-Pacific regional market recorded a revenue of $598.8 million in 2020, and is further predicted to register a revenue of $6,729.6 million at a CAGR of 37.8% during the forecast period. The rising demand and production of electric vehicles in the Asian countries such as Vietnam, Australia, India, and Japan are fueling the growth of the market in the region during the analysis period.

Get 10% OFF on APAC Electric Vehicle Battery Recycling Market

Key Segments of the Market

The report has divided the market into different segments based on chemistry, application, and regional outlook.

  • Based on the chemistry segment, the lithium-based sub-segment is expected to be the most lucrative. The sub-segment generated $541.0 million in 2020 and further expected to raise the highest revenue of $6,099.8 million by the end of 2028. Lithium batteries are known for their high energy efficiency, high-temperature performance, high power-to-weight ratio, and low self-discharge. These are the factors enhancing the growth of the market during the forecast period.
  • Based on the application segment, the electric cars sub-segment is expected to be the most profitable. The sub-segment accounted for $470.7 million in 2020 and further expected to generate a revenue of $5,485.1 million at a CAGR of 38.4% during the forecast period. Compared to petrol and diesel cars, electric cars produce zero carbon emissions which make them friendlier to the environment. This is the factor enhancing the growth of the global electric vehicle battery recycling market.

Dynamics of the Market

The greenhouse gas and carbon footprint in the atmosphere has become a serious concern among the climate activists worldwide. People are going for everything 'green' and eco-friendly. This factor has increased the demand of electric cars as they don't pollute the air with carbon emission. The popularity of electric cars leads to the demand of electric batteries and their recycling. This is one of the major factors behind the growth of the market during the forecast period.

The recycling of the batteries involves very complicated processes which requires heavy investment. This is expected to be one of the restraining factor behind the growth of the market.

Moreover, eco-friendly design of the batteries are predicted to create many opportunities for the market in upcoming years.

Top 10 Key Players of the Electric Vehicle Battery Recycling Market

The most significant players of the global electric vehicle battery recycling market include

  1. Retriev Technologies
  2. SITRASA
  3. American Manganese Inc.
  4. Battery Solutions
  5. ACCUREC Recycling GmbH
  6. LI-CYCLE CORP.
  7. SNAM S.A.S.
  8. G & P Service
  9. Umicore
  10. RECUPYL

These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.

For instance, in June 2021, Retriev Technologies, a global leader in battery recycling and management announced the completion of its first volume shipment of recovered battery materials to Marubeni Corp, a Tokyo-based battery manufacturer. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]

COVID-19 Impact on Electric Vehicle Battery Recycling Market

The global electric vehicle battery recycling market has experienced a drastic decline during the pandemic as restrictions were imposed on almost all the industries to control the spread of the coronavirus. The demand of the electric cars declined because of the restrictions on travel, which drastically affected the global market during the pandemic.

Get Access to comprehensive analysis of the Impact of Electric Vehicle Battery Recycling Market

More about Electric Vehicle Battery:

Growing Adoption of Electric Vehicles (EVs) to Create Novel Opportunities for EV Battery Recycling Market Growth

How are Advanced Recycling Methods Helping in Improving the Sustainability of Electric Vehicle Batteries?

Around the World with Electric Vehicle Infrastructure

EV Charging: Trending Topics

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

Contact:

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com
Website: https://www.researchdive.com
Blog:  https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg

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