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EV Battery Reuse Market

Global EV Battery Reuse Market Size, Growth, Share, Forecast: By Battery Type: Lithium-Manganese Oxide, Lithium-Iron Phosphate, Lithium-Titanate Oxide, Lithium-Nickel-Cobalt-Aluminium Oxide, Lithium-Nickel-Manganese Cobalt; By Source; By Vehicle Type; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global EV Battery Reuse Market Outlook

The global EV battery reuse market size reached approximately USD 350 million in 2023. The market is projected to grow at a CAGR of 26.5% between 2024 and 2032, reaching a value of around USD 2,910 million by 2032.

 

Key Trends in the Market

EV (electric vehicle) battery reuse refers to the process of disassembling EV batteries, after they have reached the end of their life, and repurposing them for other applications that do not require the same high-performance standards as a vehicle.

 

  • One of the key factors aiding the global EV battery reuse market growth is technological advancements. As research and development efforts in battery technology continue to advance, EV batteries are being made to be more durable and capable of retaining a higher percentage of their original capacity even after they can no longer meet the demands of a vehicle.
  • Used batteries from electric vehicles can be connected to the electrical grid, providing grid operators with a valuable tool for balancing supply and demand. This is particularly important in regions with high dependency on renewable energy sources, where power availability can change with the weather conditions.
  • Rising environmental concerns and increasing focus on waste reduction and promoting circular economy are significant factors supporting the global EV battery reuse market demand. Producing new lithium-ion batteries requires raw material extraction, which has environmental impacts. Reusing batteries reduces the demand for new production, thus minimising the environmental footprint linked to mining and manufacturing.

 

Market Analysis

Based on battery type, the market can be segmented into lithium-manganese oxide, lithium-iron phosphate, lithium-titanate oxide, lithium-nickel-cobalt-aluminium oxide, and lithium-nickel-manganese cobalt. The global EV battery reuse market segmentation, based on source, includes hybrid electric vehicle, battery electric vehicles, fuel cell electric vehicle, and plug-in hybrid electric vehicle.

 

Furthermore, based on the vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The market, based on application, is divided into energy storage, base stations, low speed vehicles, and EV charging. The major regional markets for EV battery reuse are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global EV battery reuse market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • General Motors Co.
  • BMW AG
  • LG Corporation
  • Ecobat, LLC
  • ATC Drivetrain, Inc.
  • Stena Metall AB (BatteryLoop)
  • Ganfeng Lithium Group Co., Ltd.
  • Li-Cycle Holdings Corp.
  • Redwood Materials Inc.
  • Lithion Technologies
  • Others

 

Market Share by Vehicle Type

According to the global EV battery reuse market analysis, passenger vehicles are expected to register high growth during the forecast period owing to their high adoption rate in developed countries. EVs are also increasingly being introduced in emerging economies, which is likely to enhance the circulation of EV and EV batteries. Eventually, these vehicles will reach the end of their usable life, generating a larger supply of used batteries for potential reuse.

 

Furthermore, governments and regulatory bodies may become more inclined to support the market for EV battery reuse as they recognise its potential environmental benefits and ability to contribute to resource conservation.

 

Market Share by Region

North America is expected to be the leading region, occupying a significant portion of the global EV battery reuse market share owing to its early transition towards electric vehicles and environmental conservation methods. Governments and regulatory bodies in North America have shown increasing interest in promoting sustainable practices in the automotive sector. This includes incentives and policies aimed at encouraging the reuse of EV batteries.

 

Competitive Landscape

General Motors Co., commonly known as GM, is one of the largest and most well-known automotive manufacturers in the world. The company was founded in the year 1908 and was established as a holding company for several automobile companies, including Buick and Oldsmobile. General Motors owns several well-known automobile brands, including Chevrolet, GMC, Buick, and Cadillac.

 

BMW AG is one of the largest and most renowned German automobile manufacturers in the world. With its headquarters located in Munich, Germany, the company has established a strong presence in over 150 countries around the world. BMW manufactures a wide range of vehicles, including luxury cars, SUVs, electric vehicles, and motorcycles.

 

LG Corporation, widely known by people as LG, is a multinational conglomerate based in South Korea. It is one of the largest and most diverse companies in the world, with operations spanning various sectors including electronics, chemicals, telecommunications, home appliances, and more. LG is renowned for its technological innovations, particularly in the fields of electronics and home appliances.

 

Other major players in the global EV battery reuse market are Ecobat, LLC, ATC Drivetrain, Inc., Stena Metall AB (BatteryLoop), Ganfeng Lithium Group Co., Ltd., Li-Cycle Holdings Corp., Redwood Materials Inc., and Lithion Technologies., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Battery Type
  • Source
  • Vehicle Type
  • Application
  • Region
Breakup by Battery Type
  • Lithium-Manganese Oxide
  • Lithium-Iron Phosphate
  • Lithium-Titanate Oxide
  • Lithium-Nickel-Cobalt-Aluminium Oxide
  • Lithium-Nickel-Manganese Cobalt
Breakup by Source
  • Hybrid Electric Vehicle
  • Battery Electric vehicles
  • Fuel Cell Electric Vehicle
  • Plug-in Hybrid Electric Vehicle
Breakup by Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
Breakup by Application
  • Energy Storage
  • Base Stations
  • Low Speed Vehicles
  • EV Charging
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • General Motors Co.
  • BMW AG
  • LG Corporation
  • Ecobat, LLC
  • ATC Drivetrain, Inc.
  • Stena Metall AB (BatteryLoop)
  • Ganfeng Lithium Group Co., Ltd.
  • Li-Cycle Holdings Corp.
  • Redwood Materials Inc.
  • Lithion Technologies
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global EV Battery Reuse Market Analysis
    8.1    Key Industry Highlights
    8.2    Global EV Battery Reuse Historical Market (2018-2023) 
    8.3    Global EV Battery Reuse Market Forecast (2024-2032)
    8.4    Global EV Battery Reuse Market by Battery Type
        8.4.1    Lithium-Manganese Oxide
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Lithium-Iron Phosphate
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Lithium-Titanate Oxide
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Lithium-Nickel-Cobalt-Aluminium Oxide
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Lithium-Nickel-Manganese Cobalt
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global EV Battery Reuse Market by Source
        8.5.1    Hybrid Electric Vehicle
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Battery Electric vehicles
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Fuel Cell Electric Vehicle
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Plug-in Hybrid Electric Vehicle
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global EV Battery Reuse Market by Vehicle Type
        8.6.1    Passenger Cars
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Commercial Vehicles
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global EV Battery Reuse Market by Application
        8.7.1    Energy Storage
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Base Stations
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Low Speed Vehicles
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    EV Charging
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
    8.8    Global EV Battery Reuse Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
9    North America EV Battery Reuse Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe EV Battery Reuse Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific EV Battery Reuse Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America EV Battery Reuse Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa EV Battery Reuse Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    General Motors Co. 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    BMW AG 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    LG Corporation 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Ecobat, LLC 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    ATC Drivetrain, Inc. 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Stena Metall AB (BatteryLoop) 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Ganfeng Lithium Group Co., Ltd. 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Li-Cycle Holdings Corp. 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Redwood Materials Inc. 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Lithion Technologies 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global EV Battery Reuse Market: Key Industry Highlights, 2018 and 2032
2.    Global EV Battery Reuse Historical Market: Breakup by Battery Type (USD Million), 2018-2023
3.    Global EV Battery Reuse Market Forecast: Breakup by Battery Type (USD Million), 2024-2032
4.    Global EV Battery Reuse Historical Market: Breakup by Source (USD Million), 2018-2023
5.    Global EV Battery Reuse Market Forecast: Breakup by Source (USD Million), 2024-2032
6.    Global EV Battery Reuse Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
7.    Global EV Battery Reuse Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
8.    Global EV Battery Reuse Historical Market: Breakup by Application (USD Million), 2018-2023
9.    Global EV Battery Reuse Market Forecast: Breakup by Application (USD Million), 2024-2032
10.    Global EV Battery Reuse Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global EV Battery Reuse Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America EV Battery Reuse Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America EV Battery Reuse Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe EV Battery Reuse Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe EV Battery Reuse Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific EV Battery Reuse Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific EV Battery Reuse Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America EV Battery Reuse Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America EV Battery Reuse Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa EV Battery Reuse Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa EV Battery Reuse Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global EV Battery Reuse Market Structure

Key Questions Answered in the Report

What was the global EV battery reuse market value in 2023?

In 2023, the market reached an approximate value of USD 350 million.

What is the growth rate of the global EV battery reuse market?

The market is projected to grow at a CAGR of 26.5% between 2024 and 2032.

What is the forecast outlook of the global EV battery reuse market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2,910 million by 2032.

What are the major market drivers?

The market is driven by the advancements in battery technology and the increasing focus on environmental sustainability.

What are the major trends in the market?

The factors like growing adoption of EV battery reuse for grid stability and increasing support from the government for battery reuse are expected to aid the development of the market.

What are the major regional markets for EV battery reuse, according to the EMR report?

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

What are the major applications where EV batteries can be reused?

The different applications are energy storage, base stations, low speed vehicles, and EV charging.

Who are the key market players, according to the global EV battery reuse market report?

The key players in the market include General Motors Co., BMW AG, LG Corporation, Ecobat, LLC, ATC Drivetrain, Inc., Stena Metall AB (BatteryLoop), Ganfeng Lithium Group Co., Ltd., Li-Cycle Holdings Corp., Redwood Materials Inc., and Lithion Technologies., among others.

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