Electric Vehicle Battery Recycling Market to grow by USD 1,862.56 million from 2022 to 2027|Growing adoption of electric vehicles boosts the market - Technavio

NEW YORK, Aug. 3, 2023 -- The electric vehicle battery recycling market size is set to grow by USD 1,862.56 million from 2022 to 2027, progressing with a CAGR of  38.68%, according to the latest research report from Technavio. Discover Environmental & Facilities Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The electric vehicle battery recycling market covers the following areas:

Electric Vehicle Battery Recycling Market Sizing
Electric Vehicle Battery Recycling Market Forecast
Electric Vehicle Battery Recycling Market Analysis

Company Landscape

The electric vehicle battery recycling market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some vendors who are experts in the process industry are trying to increase their presence and market share by horizontally integrating with system integrators. End-users in discrete industries rely on their experiences from past purchases, based on which they maintain future relationships with vendors. This enables global and established RPA vendors to dominate the local and regional vendors in terms of quality, durability, reliability, and technological innovations. Hence, the competition among the vendors in the global RPA market is expected to intensify during the forecast period.

• Accurec Recycling GmbH: The company offers electric vehicle battery recycling for NiCd, NiMH, and Lithium batteries.
• Aqua Metals Inc: The company offers electric vehicle battery recycling such as aqua refining, pyro, and standard hydro process.
• Call2Recycle Inc: The company offers electric vehicle battery recycling for lithium-ion batteries.

For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in minutes

Electric Vehicle Battery Recycling Market - Market Segmentation

This report extensively covers market segmentation by source (production scrap and end of life), vehicle type (passenger cars and commercial vehicles), and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The market share growth by the production scrap segment will be significant during the forecast period. Production scarp can be referred to as the recycling and reusing of waste generated during the manufacturing process and this comprises scrap produced during cell assembly, electrode manufacturing, and battery pack assembly. The main advantages of recycling production include minimizing waste, preserving natural resources, and mitigating the environmental impact of electric vehicle battery production. Hence, such factors will drive the market growth during the forecast period.

Electric Vehicle Battery Recycling Market - Regional Market Outlook

APAC is estimated to account for 47% of the market growth during the forecast period. The rapidly growing demand for electric mobility solutions is one of the main reasons fuelling the market growth in APAC. This increasing demand will lead to the requirement for efficient and sustainable battery recycling solutions which has become essential to ensure the long-term sustainability of the electric vehicle industry. Some of the other key factors which are fuelling the growth of the market in the region include increasing environmental awareness and regulations and several government initiatives promoting the adoption of electric mobility solutions and ensuring the sustainability of these technologies. Hence, such factors are expected to drive market growth in the region during the forecast period.

View Sample Report in minutes for more highlights into the market segments.

Companies Mentioned

• Accurec Recycling GmbH
• Amaron Batteries
• Andritz AG
• Aqua Metals Inc.
• Battery Solutions LLC
• Call2Recycle Inc.
• Camel Group Co. Ltd.
• Contemporary Amperex Technology Co. Ltd.
• Duesenfeld GmbH
• Eco-Bat Technologies Ltd.
• EnerSys
• Exxon Mobil Corp.
• Ganfeng Lithium Co. Ltd.
• GEM Co. Ltd.
• Li Cycle Holdings Corp.
• Nikkei Inc.
• RecycLiCo Battery Materials Inc
• Saubermacher Dienstleistungs AG
• Umicore NV
• Snam S.p.A

What's New? 

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession  
• Global competitiveness and key competitor positions  
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report! 

Electric Vehicle Battery Recycling Market - Market Dynamics

Major Driver

The increasing adoption of electric vehicles drives the electric vehicle battery recycling market growth during the forecast period. There is a growing concern regarding global warming and climate change caused by the harmful effects of vehicular emissions caused by fossil fuel-operated vehicles. As a result, it has significantly fuelled the demand for electric vehicles. Additionally, there is an increasing preference for electric vehicles by consumers due to the frequent fluctuations in global oil and gas prices. Hence, there is increasing adoption of electric vehicles across the world, leading to improved energy security, enhanced fuel economy, and lower vehicular emissions. Hence, such factors are expected to drive market growth during the forecast period.

Major Trend

The increasing lithium supply-demand gap is a key trend in the global electric vehicle battery recycling market. There is an increasing demand for lithium due to the rise in demand for electric vehicle batteries globally. As a result, it has led to a shortage of lithium in the market. Some of the key application areas of lithium include pharmaceuticals, construction, glass, and ceramic. Therefore the increasing demand for lithium has pressurized the suppliers to meet the demand. Hence, such factors are expected to drive market growth during the forecast period.

Significant Challenge 

The high safety issue associated with the storage and transportation of spent batteries is a major challenge hindering the market growth. Logistic issues is one of the key challenge faced by the lithium-ion battery waste management market. In the case of transportation, proper disposal of collected waste can be a significant challenge. Thus, there must be a greater focus on solid wastes that are generated from battery recycling operations. Prevention, reuse and recycling, compositing, and landfills are some of the main criteria the manufacturers should consider while designing the handling and transportation systems of disposed lithium-ion batteries. Hence, such factors will hinder the market growth during the forecast period.

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:
The pest control services market size is estimated to grow at a CAGR of 6.51% between 2022 and 2027 and the size of the market is forecast to increase by USD 8,789.06 million. This report extensively covers market segmentation by application (general pest control and termite control), end-user (residential and commercial), and geography (North America, Europe, APAC, South America, and Middle East and Africa). An increase in demand for insurance-based pest control services drives the market growth during the forecast period.

The plastic recycling solutions market size is estimated to grow at a CAGR of 7.86% between 2023 and 2027. The market size is forecast to increase by USD 20.89 billion. This report extensively covers market segmentation by type (post-consumer recyclate and industrial recyclate), end-user (packaging, construction, automotive, electrical and electronic components, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The growing environmental concerns owing to increasing plastic pollution drive the market growth during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Source
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric vehicle battery recycling market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global electric vehicle battery recycling market 2017 - 2021 ($ million)

• 4.2 Source Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Source Segment 2017 - 2021 ($ million)

• 4.3 Vehicle Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Vehicle Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Source

• 6.1 Market segments
• Exhibit 30: Chart on Source - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Source - Market share 2022-2027 (%)

• 6.2 Comparison by Source
• Exhibit 32: Chart on Comparison by Source
• Exhibit 33: Data Table on Comparison by Source

• 6.3 Production scrap - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Production scrap - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Production scrap - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Production scrap - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Production scrap - Year-over-year growth 2022-2027 (%)

• 6.4 End of life - Market size and forecast 2022-2027 
• Exhibit 38: Chart on End of life - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on End of life - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on End of life - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on End of life - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Source 
• Exhibit 42: Market opportunity by Source ($ million)
• Exhibit 43: Data Table on Market opportunity by Source ($ million)

7 Market Segmentation by Vehicle Type

• 7.1 Market segments
• Exhibit 44: Chart on Vehicle Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Vehicle Type - Market share 2022-2027 (%)

• 7.2 Comparison by Vehicle Type 
• Exhibit 46: Chart on Comparison by Vehicle Type
• Exhibit 47: Data Table on Comparison by Vehicle Type

• 7.3 Passenger cars - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Passenger cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicles - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Vehicle Type 
• Exhibit 56: Market opportunity by Vehicle Type ($ million)
• Exhibit 57: Data Table on Market opportunity by Vehicle Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Norway - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Norway - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Norway - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Accurec Recycling GmbH 
• Exhibit 111: Accurec Recycling GmbH - Overview
• Exhibit 112: Accurec Recycling GmbH - Product / Service
• Exhibit 113: Accurec Recycling GmbH - Key offerings

• 12.4 Aqua Metals Inc.
• Exhibit 114: Aqua Metals Inc. - Overview
• Exhibit 115: Aqua Metals Inc. - Product / Service
• Exhibit 116: Aqua Metals Inc. - Key offerings

• 12.5 Battery Solutions LLC 
• Exhibit 117: Battery Solutions LLC - Overview
• Exhibit 118: Battery Solutions LLC - Product / Service
• Exhibit 119: Battery Solutions LLC - Key offerings

• 12.6 Call2Recycle Inc.
• Exhibit 120: Call2Recycle Inc. - Overview
• Exhibit 121: Call2Recycle Inc. - Product / Service
• Exhibit 122: Call2Recycle Inc. - Key offerings

• 12.7 Camel Group Co. Ltd.
• Exhibit 123: Camel Group Co. Ltd. - Overview
• Exhibit 124: Camel Group Co. Ltd. - Product / Service
• Exhibit 125: Camel Group Co. Ltd. - Key offerings

• 12.8 Contemporary Amperex Technology Co. Ltd. 
• Exhibit 126: Contemporary Amperex Technology Co. Ltd. - Overview
• Exhibit 127: Contemporary Amperex Technology Co. Ltd. - Product / Service
• Exhibit 128: Contemporary Amperex Technology Co. Ltd. - Key offerings

• 12.9 Eco-Bat Technologies Ltd. 
• Exhibit 129: Eco-Bat Technologies Ltd. - Overview
• Exhibit 130: Eco-Bat Technologies Ltd. - Product / Service
• Exhibit 131: Eco-Bat Technologies Ltd. - Key offerings

• 12.10 EnerSys
• Exhibit 132: EnerSys - Overview
• Exhibit 133: EnerSys - Business segments
• Exhibit 134: EnerSys - Key offerings
• Exhibit 135: EnerSys - Segment focus

• 12.11 Exxon Mobil Corp.
• Exhibit 136: Exxon Mobil Corp. - Overview
• Exhibit 137: Exxon Mobil Corp. - Business segments
• Exhibit 138: Exxon Mobil Corp. - Key offerings
• Exhibit 139: Exxon Mobil Corp. - Segment focus

• 12.12 Ganfeng Lithium Co. Ltd. 
• Exhibit 140: Ganfeng Lithium Co. Ltd. - Overview
• Exhibit 141: Ganfeng Lithium Co. Ltd. - Business segments
• Exhibit 142: Ganfeng Lithium Co. Ltd. - Key offerings
• Exhibit 143: Ganfeng Lithium Co. Ltd. - Segment focus

• 12.13 GEM Co. Ltd.
• Exhibit 144: GEM Co. Ltd. - Overview
• Exhibit 145: GEM Co. Ltd. - Product / Service
• Exhibit 146: GEM Co. Ltd. - Key offerings

• 12.14 Li Cycle Holdings Corp. 
• Exhibit 147: Li Cycle Holdings Corp. - Overview
• Exhibit 148: Li Cycle Holdings Corp. - Product / Service
• Exhibit 149: Li Cycle Holdings Corp. - Key offerings

• 12.15 RecycLiCo Battery Materials Inc 
• Exhibit 150: RecycLiCo Battery Materials Inc - Overview
• Exhibit 151: RecycLiCo Battery Materials Inc - Product / Service
• Exhibit 152: RecycLiCo Battery Materials Inc - Key offerings

• 12.16 Snam S.p.A
• Exhibit 153: Snam S.p.A - Overview
• Exhibit 154: Snam S.p.A - Product / Service
• Exhibit 155: Snam S.p.A - Key offerings

• 12.17 Umicore NV
• Exhibit 156: Umicore NV - Overview
• Exhibit 157: Umicore NV - Business segments
• Exhibit 158: Umicore NV - Key news
• Exhibit 159: Umicore NV - Key offerings
• Exhibit 160: Umicore NV - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio