Stratview Research announces the launch of a new research report on EV Recycled Battery Materials Market by Source Type (Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Battery Electric Vehicle), by Battery Type (Lithium-ion Battery and Nickel Metal Hydride Battery), by Material Type (Aluminum, Copper, Nickel, Iron, Lithium, Cobalt , and Others), by Recycling Process Type (Pyrometallurgy, Hydrometallurgy, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World): 2020-2025.
This report, from Stratview Research, studies the electric vehicle recycled battery materials market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025 in terms of both value and volume. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Electric Vehicle Recycled Battery Materials Market: Research Highlights
The market for EV recycled battery materials is at the nascent phase and is expected to undergo a huge development in years to come. As per Stratview Research, 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. Significant increase in the demand for electric vehicles, large volume of batteries reaching their end-of-life, decreasing life expectancy of EV batteries, and 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 EV batteries across all regions.
Apart from the above driving factors, another major force behind the excellent growth of the market is high price of some of the materials along with the meagre presence of valuable metals, such as cobalt, nickel, and lithium, used in battery manufacturing. Despite high price of nickel, its demand is still high due to the NMC 811 batteries being produced on a large scale. Though EV battery recycling requires extensive technological know-how, increasing demand coupled with the scarcity of these materials is compelling various countries to increasingly recycle EV batteries.
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The market is segmented based on the source of battery 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.
Based on the battery type, the market is segmented as lithium-ion battery and nickel-metal hydrid 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.
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In terms of regions, 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.
However, Europe is likely to grow at the highest 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 all the collected batteries. In Europe, Germany and the UK are the growth engines of the EV recycled battery materials market.
The EV recycled battery materials market is consolidated with the presence of a few global and a good number of local players. Furthermore, the market recorded some M&A activities because of its emerging phase. Among the few M&A activities performed in the market, the most noticeable one is the acquisition of Guangdong Brunp Recycling Technology Co. Ltd by Contemporary Amperex Technology Co. Ltd. (CATL), one of the leading battery manufacturers for electric vehicles.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global electric vehicle recycled battery materials market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Electric Vehicle Recycled Battery Materials Market, By Source Type
Electric Vehicle Recycled Battery Materials Market, By Battery Type
Electric Vehicle Recycled Battery Materials Market, By Material Type
Electric Vehicle Recycled Battery Materials Market, By Recycling Process Type
Electric Vehicle Recycled Battery Materials Market, By Region
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