DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Battery Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global electric vehicle (EV) battery recycling market reached a value of US$ 1.77 billion in 2021. Looking forward, the market is projected to reach a value of US$ 8.66 billion by 2027, exhibiting a CAGR of 28.70% during 2022-2027.
- ACCUREC-Recycling GmbH
- American Manganese Inc.
- Battery Solutions
- G & P Batteries Limited
- Li-Cycle Corp.
- Retriev Technologies
- SNAM Groupe (Floridienne)
- Umicore N.V
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Electric vehicle (EV) battery recycling relies on two procedures, including pyrometallurgy/smelting and hydrometallurgy, which are either utilized separately or in combination with each other. It focuses on recovering the cathode metals of a battery, such as nickel (Ni), cobalt (Co), aluminum (Al), iron (Fe), and lithium (Li), to reduce the dependence on intensive mining for battery development. Besides this, as it can prevent hazardous materials from entering the waste stream at the end of life (EOL) of a battery, the demand for EV battery recycling is rising across the globe.
As there is presently an increase in the sales of EVs, the number of EV batteries requiring proper management at EOL is also growing. This, in confluence with the burgeoning automotive industry, represents one of the key factors positively influencing the market.
Moreover, leading players are developing new recycling technologies, such as direct recycling or cathode-to-cathode recycling, to recover metals, minerals, chemicals, and chemical powders suitable for direct sales to battery manufacturers. This approach varies from the current method of producing metal-laden materials directed to smelters for refining and recovering Ni, Co, and other cathode materials as separate metals.
Besides this, governments of numerous countries are increasing their expenditure on direct purchase incentives and tax deductions for EVs. They are also establishing the electric vehicles initiative (EVI), which aims at accelerating the adoption of EVs worldwide. In addition, several campaigns have been launched by global organizations to support the market of buses, trucks, electric passenger cars, and light commercial vans (LCVs). This, coupled with the depletion of non-renewable metal resources, is facilitating the growth of the market.
Key Questions Answered in This Report
- How has the global electric vehicle battery recycling market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global electric vehicle battery recycling market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the process?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global electric vehicle battery recycling market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Electric Vehicle Battery Recycling Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
7 Market Breakup by Process
8 Market Breakup by Vehicle Type
9 Market Breakup by Application
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/y4kh3n