The Allied Market Research report, titled “Electric Vehicle Battery Recycling Market by Application (Electric Cars, Electric Buses, Energy Storage Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025”, finds the global electric vehicle battery recycling market generated $138.6 million in 2017 and is projected to garner $2.27 billion by 2025, registering a CAGR of 41.8% during the forecast period from 2018 to 2025. According to the researchers, the increase in demand for zero-emission vehicles and the easy availability of finite metal resources propel the growth of the global electric vehicle battery recycling market
- High-cost to initialize recycling plants and the rise in re-use of EV batteries hamper the market growth.
- Increases in subsidies to encourage battery recycling along with high recycling gap would provide lucrative opportunities for emerging market players soon.
- Electric Buses to remain the largest revenue generating segment through 2025.
- LAMEA is poised to become the fastest growing region at a CAGR of 46.1% during the forecast period.
- Key market players include ACCUREC Recycling GmbH, American Manganese Inc., Battery Solutions, LI-CYCLE CORP., G & P Service, Recupyl, Retriev Technologies, SITRASA, SNAM S.A.S., and Umicore.
Need more insights? Then download a sample of the “Electric Vehicle Battery Recycling Market” report.
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