CHICAGO, Sept. 13, 2023 /PRNewswire/ — According to Arizton’s latest research report, the electric vehicle battery recycling market will grow at a CAGR of 16.08% during 2022-2028.
To Know More, Download the Free Sample Report: https://www.arizton.com/request-sample/3936
Browse In-Depth TOC on the Electric Vehicle Battery Recycling Market
70 – Tables
101 – Charts
231 – Pages
The rapid adoption of artificial intelligence and the Internet of Things, increasing government investments in technological advancement, and the spiking demand for New-generation automobiles are among the top contributing factors to the rising growth and adoption of Industry 4.0 tech across industries. Growing demand for electric vehicles due to compact size, less charging time, and low maintenance cost are primary factors driving the global automotive battery market.
Electric Vehicle Battery Recycling Market Report Scope
|
Report Scope |
Details |
|
Market Size (2028) |
USD 20.07 Billion |
|
Market Size (2022) |
USD 8.20 Billion |
|
CAGR (2022-2028) |
16.08 % |
|
Base Year |
2022 |
|
Forecast Year |
2023-2028 |
|
Market Segmentation |
Process Type, Chemistry Type, End User, and Geography |
|
Geographic Analysis |
North America, Europe, APAC, Latin America, and Middle East & Africa |
|
Market Dynamics |
· Rising Gasoline Prices · The Rising Demand for Zero-Emission Vehicles · Implementing Policies and Incentives to Encourage the Adoption of EVs |
The role of EV battery recycling in the North American automobile industry has been predominant in recent years due to its multiple and effective uses. The wide choices and preferences of consumers, such as vinyl wraps, roof denting, or stickering, can be met using tools such as heat guns. Auto body shop owners prefer heat guns since they enhance the aesthetics of automobiles by applying optimum heat in vinyl wrapping. They can also be used to fix blemishes and remove old adhesives. North America also accounted for more than 52.2% of global aerospace parts manufacturing. The situation is expected to remain consistent throughout the forecast period owing to the rising air traffic in the region. New aircraft designs with precision parts will further use EV battery recycling to enhance productivity.
Increasing investments by indicating automotive OEMs for setting up battery manufacturing facilities in the region, cumulative adoption of EVs, and decreasing battery access are some of the major considerations for the growth of this market. Increasing investments in other battery technologies provide substantial growth opportunities for market players.
Key Insights
The introduction of eco-design has made many products obsolete, and this has been the case in the industry for a long time. Hence, the competition is intense as vendors tend to focus on new products during each strong sales season.
Advances in technology have led to the development of several Electric vehicle batteries used across industries. EV batteries are outpacing traditional automobiles in the commercial and passenger vehicle segments due to the demand for efficiency.
Vendors are also maximizing their offerings with a range of Li-ion batteries as per the latest market trends.
From an economic perspective, the current situation is uncertain and can have long-term effects on the industry. Furthermore, when compared with other developed regions, such as Europe, the US EV battery Recycling systems industry is capable and poised to overcome current industry challenges as it has faced many economy-related problems, even before COVID-19, unlike other regions with strong growth trendlines.
Mass-market caters to niche customer segments. Hence, an opportunity exists for all categories of vendors to sustain themselves in the market.
Innovations and Advanced Technologies Shaping the EV Battery Recycling Market
Leading electric vehicle (EV) battery recycling companies are efficiently processing and recovering materials from these batteries, bolstered by the widespread adoption of electric vehicles worldwide. This growth is driven by government incentives, stricter emissions regulations, and increasing environmental awareness. As the number of spent EV batteries in need of recycling rises, major players in the industry benefit significantly.
Furthermore, governments in various countries are recognizing the environmental impact of EV batteries and implementing regulations to promote responsible recycling practices. This, in turn, encourages companies to establish compliant recycling methods and meet rigorous environmental standards, positively impacting the market.
The market is also being driven by the growing need to recycle batteries to extract valuable and scarce resources such as lithium, cobalt, nickel, and rare earth metals. Additionally, top EV battery recycling companies are forging strong relationships and forming strategic alliances with various stakeholders, including automotive manufacturers, battery producers, recyclers, and regulators, contributing to market growth. Moreover, ongoing advancements in battery dismantling, separation, and chemical processes, as well as the introduction of advanced recycling technologies, are creating a favorable outlook for the industry.
Buy the Report Now: https://www.arizton.com/market-reports/electric-vehicle-battery-recycling-market
Post-Purchase Benefit
- 1hr of free analyst discussion
- 10% of customization
Key Company Profiles
- Umicore
- Bosch
- ACCUREC-Recycling GmbH
- Li-Cycle Corp.
- RecycLiCo
- Battery Solution
- G & P Batteries Limited
- SITRASA
- Retriev Technologies
- SNAM Groupe
- TES-Amm
- FORTUM CORPORATION
- MTB RECYCLING
- Tata Chemicals Limited
- Duesenfeld
Market Segmentation
Process Type
- Hydrometallurgy
- Pyrometallurgy
- Other Process
Chemistry Type
- Lithium-ion
- Lead-acid
- Nickel
- Others
End User
- Commercial Vehicle
- Passenger Vehicle
Geography
- North America
- The US
- Canada
- Europe
- The UK
- Germany
- France
- Russia
- Italy
- Spain
- APAC
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
- Turkey
Key Questions Answered in the Report:
- How big is the electric vehicle battery recycling market?
- What is the growth rate of the global electric vehicle battery recycling market?
- Which region dominates the global electric vehicle battery recycling market share?
- What are the significant trends in the electric vehicle battery recycling market?
- Who are the key players in the global electric vehicle battery recycling market?
Check Out Some of the Top Selling Research Reports:
Electric Vehicle Charging Infrastructure Market – Global Outlook and Forecast 2021-2026: The global electric vehicle charging infrastructure market growing at a CAGR of 36% during the forecast period.
Europe Electric Two-wheeler Market – Industry Outlook & Forecast 2021-2026: Europe electric two-wheeler market growing at a CAGR of 13.12% during 2021-2026.
Power Equipment Batteries Market – Global Outlook & Forecast 2023-2028: The global power equipment batteries market growing at a CAGR of 5.80% 2022-2028.
U.S. Electric Vehicle Fluids Market – Industry Outlook & Forecast 2022-2027: The U.S. electric vehicle fluids market is growing at a CAGR of over 24% from 2022 to 2027.
Get the Detailed TOC @ https://www.arizton.com/market-reports/electric-vehicle-battery-recycling-market?details=tableOfContents
Why Arizton?
- 100% Customer Satisfaction
- 24×7 availability – we are always there when you need us
- 200+ Fortune 500 Companies trust Arizton’s report
- 80% of our reports are exclusive and first in the industry
- 100% more data and analysis
- 1500+ reports published till date
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Contact Us:
Call: +1-312-235-2040
+1 302 469 0707
Mail: enquiry@arizton.com
Contact Us: https://www.arizton.com/contact-us
Blog: https://www.arizton.com/blog
Website: https://www.arizton.com/
Photo: https://mma.prnewswire.com/media/2209674/Electric_Vehicle_Battery_Recycling_Market.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg
SOURCE Arizton Advisory & Intelligence