PORTLAND, Oregon, April 1, 2019 Allied Market Research published a 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". According to the report, 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, 2018–2025.
The growth of the global electric vehicle battery recycling market is driven by the growing demand for zero-emission vehicles and recycled products & materials. Market growth is further supplemented by the availability of finite metal resources and the surge in middle-class employment. However, the high-cost to initialize recycling plants and the rise in re-use of EV batteries hamper the market growth. Nonetheless, the increase in subsidies to encourage battery recycling along with high recycling gap would provide lucrative opportunities for emerging market players in the near future.
Flat 20% Discount on this report (valid till 20th April 2019)
Electric Buses to remain the largest revenue generating segment through 2025
By application, the electric buses segment is expected to dominate the global market during the forecast period and occupy almost half of the total share. This is attributed to the growing adoption of alternative fuel technologies in commercial vehicles such as buses, which offer zero emission, better acceleration, and quiet operation. However, the energy storage systems segment is projected to register the highest CAGR of 47.8% from 2018 to 2025, on account of remanufacturing of lithium-ion batteries to provide a second-life with 70–80% charging capabilities.
LAMEA is poised to become the fastest growing region
LAMEA is expected to grow at the fastest CAGR of 46.1% during the forecast period, owing to the high adoption rate of advanced electric vehicle systems in commercial vehicles. Moreover, the rise in vehicle emission standards in this region and growth in demand for fuel-efficient and eco-friendly technologies supplement the growth. Meanwhile, Asia-Pacific is anticipated to remain the dominant region by 2025, generating almost half of the global revenue. This is due to high adoption rates of smart mobility services, increased government regulations, surge in fuel prices, and rise in trend toward adopting non-fossil fuel-based vehicles.
The key players analyzed in the report 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. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
The global electric vehicle market is growing at a CAGR of 22.3% from 2018 to 2025. North America and Europe are the potential markets for the growth of electric vehicles. Asia-Pacific has witnessed high adoption of electric vehicles in the past years, and is expected to dominate the electric vehicle market in the upcoming years.
The global electric vehicle battery market is escalating at a CAGR of 17.2% from 2018 to 2025. At present, the Asia-Pacific region dominates the global EV battery market owing to the enhanced demand for electric vehicles and rise in the global awareness about the menace of vehicle pollution.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected]