DUBLIN--(BUSINESS WIRE)--Oct 11, 2022--
The "EV Battery Recycling Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global EV battery recycling market is expected to grow from $1.31 billion in 2021 to $1.77 billion in 2022 at a compound annual growth rate (CAGR) of 35.5%. The EV battery recycling market is expected to grow to $5.30 billion in 2026 at a CAGR of 31.6%.
Asia Pacific was the largest region in the EV battery recycling market in 2021. The regions covered in the EV battery recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in the sales of electric vehicles (EV) is expected to propel the growth of the EV battery recycling market going forward. EVs are vehicles that are either partially or fully powered by electricity and contain a battery that powers an electric motor. EV batteries contain critical minerals that can be reclaimed through recycling of end-of-life EV batteries and used for manufacturing new batteries that are used in electric vehicles.
For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, global sales of EVs that include fully electric and plug-in hybrids reached 6.6 million units in 2021. Also, the total number of EVs on the roads worldwide stood at 16.5 million in the year 2021. Therefore, the increase in the sales of electric vehicles is driving the demand for the EV battery recycling market.
The emergence of new processes is a key trend gaining popularity in the EV battery recycling market. Major companies operating in the EV battery recycling sector are developing new and innovative processes to recover valuable battery minerals.
For instance, in March 2022, Ascend Elements, a US-based manufacturer of advanced battery materials, and Koura, a US-based manufacturer of fluoroproducts have jointly developed a new process, called Hydro-to-Anode that can recover 99.9% pure graphite from the used batteries. The quality of the recovered graphite is at par with virgin graphite and it can be used for manufacturing new batteries. The use of this process is cost effective and enables economical recycling of lithium-ion (Li-ion) batteries, and also minimizes the need for mining new materials.
1) By Battery Type: Lead-Acid Battery; Lithium-Based Battery; Other Battery Types
2) By Process: Pyrometallurgical; Hydrometallurgical; Other Processes
3) By Vehicle Type: Passenger Cars; Commercial Vehicles
4) By Application: Electric Cars; Electric Buses; Energy Storage Systems; Other Applications
2. EV Battery Recycling Market Characteristics
3. EV Battery Recycling Market Trends And Strategies
4. Impact Of COVID-19 On EV Battery Recycling
5. EV Battery Recycling Market Size And Growth
6. EV Battery Recycling Market Segmentation
7. EV Battery Recycling Market Regional And Country Analysis
8. Asia-Pacific EV Battery Recycling Market
9. China EV Battery Recycling Market
10. India EV Battery Recycling Market
11. Japan EV Battery Recycling Market
12. Australia EV Battery Recycling Market
13. Indonesia EV Battery Recycling Market
14. South Korea EV Battery Recycling Market
15. Western Europe EV Battery Recycling Market
16. UK EV Battery Recycling Market
17. Germany EV Battery Recycling Market
18. France EV Battery Recycling Market
19. Eastern Europe EV Battery Recycling Market
20. Russia EV Battery Recycling Market
21. North America EV Battery Recycling Market
22. USA EV Battery Recycling Market
23. South America EV Battery Recycling Market
24. Brazil EV Battery Recycling Market
25. Middle East EV Battery Recycling Market
26. Africa EV Battery Recycling Market
27. EV Battery Recycling Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The EV Battery Recycling Market
29. EV Battery Recycling Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/s57792
View source version on businesswire.com:https://www.businesswire.com/news/home/20221011005735/en/
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