Electric Vehicles Battery Recycling Market worth $56.3 billion by 2031, at a CAGR of 25.8%

The report “Electric Vehicles Battery Recycling Market by Source (Passenger Vehicles, Commercial Vehicles, E-Bikes), Chemistry (Li-NMC, LFP, LMO, LTO, NCA), Process, and Region (North America, Europe, Asia Pacific) – Global Forecast to 2031” predicts a 25.8% CAGR from USD 9.0 billion in 2023 to USD 56.3 billion by 2031. High demand from the automotive and consumer electronics industries is expected to propel the EV Battery Recycling Market.

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  • 217 Market data Tables
  • 48 Figures
  • 211 Pages and in-depth TOC on “Electric Vehicles Battery Recycling Market – Global Forecast to 2031”
Some of the prominent key players are:

·         Contemporary Amperex Technology Co., Limited. (China)

·         Glencore (Switzerland)

·         GEM Co., Ltd. (China)

·         ERAMET (France)

·         Li-Cycle Corp (Canada)

·         Umicore (Belgium)

Driver: Increase in demand for recycled products and materials

The growing interest in recycling materials and batteries is expected to spur research and development in both areas. The rise in material costs, combined with an increase in demand for eco-friendly or recycled products, is expected to create a variety of growth opportunities in the battery recycling market. The growing interest in recycled products and materials represents a significant shift, with significant implications for the electric vehicle battery recycling market. This increased demand is being driven by a global shift toward sustainable practices, increased environmental consciousness, and a growing awareness of the scarcity of natural resources.

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“E-Bikes, by source, is estimated to account for the highest CAGR during the forecast period.”

E-Bikes by source contributes to have highest CAGR during the forecast period as electric vehicle (EV) batteries in e-bikes is driven by several key advantages. EV batteries, particularly lithium-ion and lithium-iron-phosphate (LFP) types, offer higher energy density, ensuring longer range and improved e-bike performance. Safety is enhanced, with lithium-ion batteries being less susceptible to thermal runaway and oxygen release in case of fire compared to lead-acid batteries.

“Asia Pacific is estimated to account for the highest CAGR during the forecast period.”

The demand for EV batteries in Asia Pacific is significant, driven by the increasing adoption of EVs in emerging economies. Growing investments by leading automotive OEMs to set up battery manufacturing and recycling facilities in the region, and rising government initiatives to support EV battery manufacturing, and EV battery recycling are some of the factors driving the growth of the EV battery recycling market in the Asia-Pacific region.

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