Electric Vehicle Recycled Battery Materials Market set to reach US$ 300.8 million by 2025
February 20, 2020
Electric Vehicle Recycled Battery Materials Market Overview:
The electric vehicle recycled battery materials market size is projected to grow at an impressive rate over the next five years to reach US$ 300.8 million by 2025. A significant increase in the demand for electric vehicles, a large volume of batteries reaching their end-of-life, decreasing the life expectancy of EV batteries, and the scarcity of battery raw materials are likely to drive the EV recycled battery materials market. Along with these factors, government support and imposed regulations regarding EV adoption and battery recycling are expected to boost the recycling of batteries across all regions.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of EV Recycled battery Materials has been view from various perspectives such as:
- By Source Type (HEV, PHEV, BEV)
- By Battery Type (Lithium-ion Battery, Nickel Metal Hydride Battery)
- By Material Type (Aluminum, Copper, Nickel, Iron, Lithium, Cobalt, Others)
- By Recycling Process Type (Pyrometallurgy, Hydrometallurgy, Others)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Electric Vehicle Recycled Battery Materials Market Segment Insights:
BEV: The growth engine
The EV recycled battery materials market is segmented based on the source of batteries as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). BEV is likely to remain the growth engine of the market during the forecast period. The vehicle type witnessed the most impressive growth from 2013 as compared to HEV and PHEV.
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Dominance of: Lithium-ion Battery
Based on the battery type, the EV recycled battery materials market is segmented as lithium-ion battery and nickel-metal hydride battery. Lithium-ion is likely to remain the most dominant as well as the faster-growing segment over the next five years in terms of both value as well as volume. Lithium-ion batteries are already ruling the EV market, resulting in a large volume of batteries reaching end-of-life.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, battery manufacturers, electric vehicle manufacturer/assembler, end user, and recyclers/recycling companies. Not all batteries undergo recycling, a considerable percentage of them go for second-life applications. It is anticipated that the market is likely to remain consolidated in years to come.
Regional Hegemony of Asia-Pacific
Asia-Pacific is projected to remain the largest market during the forecast period driven by the huge pile of used batteries in China. Currently, China owns the largest EV fleet size as 99% of E-buses runs in China. Also, the country is the house of all the major EV battery recyclers such as GEM Co. Ltd and Guangdong Brunp Recycling Technology Co. Ltd.
Europe is likely to grow at the highest growth rate over the next five years, owing to the stringent regulations imposed by the European Union. The European Regulation has made it mandatory for battery manufacturers to finance the cost of collecting, treating, and recycling of all the collected batteries. In Europe, Germany and the UK are the growth engines of the EV recycled battery materials market.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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