Electric Vehicle Battery Recycling Market Size is valued at 0.83 Billion in 2024 and is predicted to reach 24.29 Billion by the year 2034 at a 40.4% CAGR during the forecast period for 2025-2034.
Electric vehicle (EV) battery recycling is the process of collecting, dismantling, and reprocessing batteries from electric vehicles in order to recover valuable materials while minimizing environmental impact. EV batteries are typically composed of metals such as lithium, cobalt, nickel, and manganese, as well as electrolytes and polymers. The growing global usage of electric vehicles is a significant driving force in the electric vehicle battery recycling market. As the number of electric vehicles on the road grows, so does the number of end-of-life batteries that need to be recycled, generating demand for efficient recycling solutions. Moreover, continuous technical breakthroughs in battery recycling procedures are propelling the market's efficiency and cost-effectiveness.
However, many countries enacted lockdowns and restrictions during the early stages of the pandemic, resulting in a temporary slowdown in electric vehicle sales. As the number of electric vehicles on the road fell, so did the volume of end-of-life batteries available for recycling, reducing demand for recycling services.
The Electric Vehicle Battery Recycling Market is segmented on the basis of type, source, and vehicle type. Based on type, the market is segmented as Lithium-ion, Lead Acid, and Others. The source segment includes end-of-life and production scrap. By vehicle type, the market is segmented into passenger cars, buses, vans, and others.
The Lithium-ion category is expected to hold a major share of the global Electric Vehicle Battery Recycling Market in 2022. Global demand for battery electric cars (BEV) and hybrid electric vehicles (HEV) is predicted to drive the segment's growth. Lithium-ion batteries are the most often used type of battery in electric cars (EVs) and thus play an important part in the electric vehicle battery recycling market. Because of its high energy density, long cycle life, and relatively lightweight compared to other battery chemistries, lithium-ion batteries are the leading battery chemistry used in EVs.
The bus segment is anticipated to grow at a rapid rate in the global Electric Vehicle Battery Recycling Market. Increased demand for electric buses and vehicles, for example, is predicted to enhance the use of battery recycling services. The desire for clean and sustainable public transit is driving the global adoption of electric buses. When compared to regular diesel buses, electric buses emit less pollutants, produce less noise, and consume less energy. As the number of electric buses on the road increases, so does the volume of end-of-life bus batteries accessible for recycling.
Asia Pacific Electric Vehicle Battery Recycling Market is expected to register the highest market share in terms of revenue in the near future. An increasing number of electric vehicles in the region (particularly in China) and greater investment in electric car battery cooling systems by private and state entities are projected to fuel market expansion. During the projection period, Europe is expected to increase steadily.
The severe EU carbon-emissions regulations have boosted electric vehicle sales in the region, increasing demand for batteries. During the projected period, North America is expected to account for a sizable share of the market. The presence of market players in the region, the introduction of electric vehicles in public transportation, and more consumer disposable income are projected to fuel market expansion in this region.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 0.83 Bn |
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Revenue Forecast In 2034 |
USD 24.29 Bn |
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Growth Rate CAGR |
CAGR of 40.4% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Type, Source, And Vehicle Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia |
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Competitive Landscape |
Battery Solutions LLC; Gopher Resource LLC; Ecobat Logistics; Terrapure BR Ltd.; East Penn Manufacturing Company; Retriev Technologies; COM2 Recycling Solutions; Call2Recycle; Exide Technologies; Gravita India Ltd. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Electric Vehicle Battery Recycling Market Snapshot
Chapter 4. Global Electric Vehicle Battery Recycling Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Type Estimates & Trend Analysis
5.1. By Type & Market Share, 2024-2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Type:
5.2.1. Lithium-ion
5.2.2. Lead Acid
5.2.3. Others
Chapter 6. Market Segmentation 2: By Source Estimates & Trend Analysis
6.1. By Type & Market Share, 2024-2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Source:
6.2.1. End of life
6.2.2. Production Scrap
Chapter 7. Market Segmentation 3: By Vehicle Type Estimates & Trend Analysis
7.1. By Type & Market Share, 2024-2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Vehicle Type:
7.2.1. Passenger Cars
7.2.2. Buses
7.2.3. Vans
7.2.4. Others
Chapter 8. Electric Vehicle Battery Recycling Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Type, 2021-2034
8.1.2. North America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Source, 2021-2034
8.1.3. North America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2021-2034
8.1.4. North America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
8.1.4.1. U.S.
8.1.4.2. Canada
8.2. Europe
8.2.1. Europe Electric Vehicle Battery Recycling Market revenue (US$ Million) by By Type, 2021-2034
8.2.2. Europe Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Source, 2021-2034
8.2.3. Europe Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Vehicle Type , 2021-2034
8.2.4. Europe Electric Vehicle Battery Recycling Market revenue (US$ Million) by country, 2021-2034
8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Asia Pacific Electric Vehicle Battery Recycling Market revenue (US$ Million) by By Type, 2021-2034
8.3.2. Asia Pacific Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Source, 2021-2034
8.3.3. Asia Pacific Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Vehicle Type , 2021-2034
8.3.4. Asia Pacific Electric Vehicle Battery Recycling Market revenue (US$ Million) by country, 2021-2034
8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific
8.4. Latin America
8.4.1. Latin America Electric Vehicle Battery Recycling Market revenue (US$ Million) by By Type, 2021-2034
8.4.2. Latin America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Source, 2021-2034
8.4.3. Latin America Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Vehicle Type , 2021-2034
8.4.4. Latin America Electric Vehicle Battery Recycling Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.4.4.1. Brazil
8.4.4.2. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Middle East & Africa Electric Vehicle Battery Recycling Market revenue (US$ Million) by By Type, (US$ Million)
8.5.2. Middle East & Africa Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Source, 2021-2034
8.5.3. Middle East & Africa Electric Vehicle Battery Recycling Market revenue (US$ Million) estimates and forecasts By Vehicle Type, 2021-2034
8.5.4. Middle East & Africa Electric Vehicle Battery Recycling Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Battery Solutions LLC
9.2.2. Gopher Resource LLC;
9.2.3. Ecobat Logistics.
9.2.4. Terrapure BR Ltd.
9.2.5. East Penn Manufacturing Company.
9.2.6. Retriev Technologies.
9.2.7. COM2 Recycling Solutions.
9.2.8. Call2Recycle.
9.2.9. Exide Technologies.
9.2.10. Gravita India Ltd.
Electric Vehicle Battery Recycling Market By Type-
Electric Vehicle Battery Recycling Market By Source-
Electric Vehicle Battery Recycling Market By Vehicle Type-
Electric Vehicle Battery Recycling Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
