Product Code: A31427
The global EV battery reuse market size was valued at $0.2 billion in 2021, and EV battery reuse industry is projected to reach $3.9 billion by 2031, growing at a CAGR of 34.3% from 2022 to 2031.
EV battery reuse has wide range of applications in the energy storage, as a power source for base station and EV charging stations. Most of the batteries used in this market are those that do not meet the standards for its application in the EVs. The increase in awareness among the people regarding the impact of battery waste on environment has led to recycling that provides second life for the battery in various other applications.
The battery and vehicle manufacturers have been pushing forward EV battery recycling and reuse in pursuit of more sustainable business models. This is being reinforced by progressive government regulations, such as the recent updates to battery reuse and recycling regulations in Europe. Ongoing trends reveal that recycling is ecpected to be favored over the next 2-3 years. However, in the long-term, second life use applications are anticipated to gain momentum due to technological advances, regulatory clarity, and proven business model.
The rise in sale of electric vehicles (EV) across the globe creates considerable opportunity for stationary storage powered by used EV batteries. In terms of battery type, the electric vehicle battery reuse market can be segmented into lithium-ion batteries, nickel-metal hydride batteries, and lead-acid batteries. Rise in demand for EV battery in the automotive industry is expected to create significant opportunities for the EV battery reuse market in the near future. The benefits of reusing end-of-first-life batteries are the cost development of new batteries to be manufactured is high compared to battery that are recycled. Therefore, the different paths of reusing those batteries need to be investigated in order to identify possible economic benefits as compared to that offered by new batteries. The comparison of both price trends is a key factor for the success of reusing batteries, since they would not only be ecologically attractive however also cost-effective.
Energy storage application accounted for over 28% of the market share in 2021. Escalating energy demand owing to the growth in population and shortage of power supply are projected to fuel the of EV battery reuse market statistics during the forecast period. The batteries failing to maintain 80% of total usable capacity are ejected from usage in EVs on account of unfulfillment of performance standards. The used Li-ion batteries can be utilized as a back-up system, where the power is stored during the normal grid supply and it discharges when there is power outage especially during extreme climatic conditions. The EV battery reuse market is anticipated to grow on account of its ability to power low energy demanding applications as a part of energy storage system.
North America accounted for a significant share of the global market revenue in 2021. The demand for battery reuse across North America is primarily driven by the U.S. and Canada. The North America region has great demand for electric vehicles. The recent surge in the sales of electric vehicles in this region has led to increase in demand for EV battery. The rise in the sales of batteries has led to the launch of various initiatives by the government to recycle and reuse the standard batteries in various sectors. However, the rapid development in the battery technology and decrease in the production cost of lithium batteries by 97% since 1997 have hampered the market growth. On the other hand, the market in Asia-Pacific is estimated to register the fastest growth rate during the forecast period.
The EV battery reuse market is segmented on the basis of source, battery chemistry, vehicle type, application, and region.
On the basis of source, it is fragmented into battery electric vehicles, hybrid electric vehicle, plug-in hybrid electric vehicle, and fuel cell electric vehicle. On the basis of battery chemistry, the market is categorized into Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Nickel-Cobalt-Aluminum Oxide, Lithium-Nickel-Manganese Cobalt, and Lithium-Titanate Oxide. On the basis of vehicle type, the market is bifurcated into passenger cars and commercial vehicles. By application, the EV battery reuse market is classified into low speed vehicles, base stations, EV charging, and energy storage.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. At present, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.
The major companies profiled in this report include BYD Co, Ltd., Global Battery Solutions, Ltd., Daimler AG, Samsung SDI Co., Ltd,LG Chem Ltd., Groupe PSA, GS Yuasa Corporation, General Motors, Toshiba Corporation, Envision AESC, Nissan Motor Co., Ltd., Toyota Motor Corporation, BMW Group, Tesla Inc,, Johnson Controls, inc., Lithium Werks, and Mitsubishi Electric. Additional growth strategies such as expansion of storage capacities, acquisition, partnership, and research & innovation in the recycling technologies have led to attain key developments in the global EV battery reuse market trends.
Impact of COVID-19 on Global EV Battery Reuse Market
Demand for various input products in the industrial sector declined significantly, as very few industrial operations were allowed to operate. The factors mentioned above restrained the market, as very few reuses of new electric vehicle batteries are expected to be deployed by these industries during the pandemic crisis.
Post pandemic crisis, major electric vehicle manufacturers have launched electric vehicles of various types, as there is a huge demand for eco-friendly automotive after the pandemic outbreak due to increase in awareness among the people toward the environment. Furthermore, the breakthrough in various technologies which are used in the EVs is another factor boosting the growth of the EV industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ev battery reuse market analysis from 2021 to 2031 to identify the prevailing ev battery reuse market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ev battery reuse market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ev battery reuse market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
By Battery Chemistry
- Lithium-Iron Phosphate
- Lithium-Manganese Oxide
- Lithium-Nickel-Cobalt-Aluminum Oxide
- Lithium-Nickel-Manganese Cobalt
- Lithium-Titanate Oxide
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Application
- Low speed vehicles
- Base Stations
- EV charging
- Energy Storage
By Region
- North America
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
- Key Market Players
- BYD Co, Ltd.
- Global Battery Solutions, Ltd.
- Daimler AG
- Samsung SDI Co., Ltd
- LG Chem Ltd.
- Groupe PSA
- GS Yuasa Corporation
- General Motors
- Toshiba Corporation
- Envision AESC
- Nissan Motor Co., Ltd.
- Toyota Motor Corporation
- BMW Group
- Tesla Inc
- Johnson Controls, inc.
- Lithium Wrecks
- Mitsubishi Electric Corporation
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
- 3.7.Value Chain Analysis
- 3.8.Key Regulation Analysis
CHAPTER 4: EV BATTERY REUSE MARKET, BY SOURCE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Battery Electric Vehicles (BEVs)
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Hybrid Electric Vehicle (HEV)
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
- 4.4 Plug-in Hybrid Electric Vehicle (PHEV)
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market analysis by country
- 4.5 Fuel Cell Electric Vehicle (FCEV)
- 4.5.1 Key market trends, growth factors and opportunities
- 4.5.2 Market size and forecast, by region
- 4.5.3 Market analysis by country
CHAPTER 5: EV BATTERY REUSE MARKET, BY BATTERY CHEMISTRY
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Lithium-Iron Phosphate
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Lithium-Manganese Oxide
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Lithium-Nickel-Cobalt-Aluminum Oxide
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
- 5.5 Lithium-Nickel-Manganese Cobalt
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market analysis by country
- 5.6 Lithium-Titanate Oxide
- 5.6.1 Key market trends, growth factors and opportunities
- 5.6.2 Market size and forecast, by region
- 5.6.3 Market analysis by country
CHAPTER 6: EV BATTERY REUSE MARKET, BY VEHICLE TYPE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Passenger Cars
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Commercial Vehicles
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
CHAPTER 7: EV BATTERY REUSE MARKET, BY APPLICATION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 Low speed vehicles
- 7.2.1 Key market trends, growth factors and opportunities
- 7.2.2 Market size and forecast, by region
- 7.2.3 Market analysis by country
- 7.3 Base Stations
- 7.3.1 Key market trends, growth factors and opportunities
- 7.3.2 Market size and forecast, by region
- 7.3.3 Market analysis by country
- 7.4 EV charging
- 7.4.1 Key market trends, growth factors and opportunities
- 7.4.2 Market size and forecast, by region
- 7.4.3 Market analysis by country
- 7.5 Energy Storage
- 7.5.1 Key market trends, growth factors and opportunities
- 7.5.2 Market size and forecast, by region
- 7.5.3 Market analysis by country
CHAPTER 8: EV BATTERY REUSE MARKET, BY REGION
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 North America
- 8.2.1 Key trends and opportunities
- 8.2.2 North America Market size and forecast, by Source
- 8.2.3 North America Market size and forecast, by Battery Chemistry
- 8.2.4 North America Market size and forecast, by Vehicle Type
- 8.2.5 North America Market size and forecast, by Application
- 8.2.6 North America Market size and forecast, by country
- 8.2.6.1 U.S.
- 8.2.6.1.1 Market size and forecast, by Source
- 8.2.6.1.2 Market size and forecast, by Battery Chemistry
- 8.2.6.1.3 Market size and forecast, by Vehicle Type
- 8.2.6.1.4 Market size and forecast, by Application
- 8.2.6.2 Canada
- 8.2.6.2.1 Market size and forecast, by Source
- 8.2.6.2.2 Market size and forecast, by Battery Chemistry
- 8.2.6.2.3 Market size and forecast, by Vehicle Type
- 8.2.6.2.4 Market size and forecast, by Application
- 8.2.6.3 Mexico
- 8.2.6.3.1 Market size and forecast, by Source
- 8.2.6.3.2 Market size and forecast, by Battery Chemistry
- 8.2.6.3.3 Market size and forecast, by Vehicle Type
- 8.2.6.3.4 Market size and forecast, by Application
- 8.3 Europe
- 8.3.1 Key trends and opportunities
- 8.3.2 Europe Market size and forecast, by Source
- 8.3.3 Europe Market size and forecast, by Battery Chemistry
- 8.3.4 Europe Market size and forecast, by Vehicle Type
- 8.3.5 Europe Market size and forecast, by Application
- 8.3.6 Europe Market size and forecast, by country
- 8.3.6.1 Germany
- 8.3.6.1.1 Market size and forecast, by Source
- 8.3.6.1.2 Market size and forecast, by Battery Chemistry
- 8.3.6.1.3 Market size and forecast, by Vehicle Type
- 8.3.6.1.4 Market size and forecast, by Application
- 8.3.6.2 France
- 8.3.6.2.1 Market size and forecast, by Source
- 8.3.6.2.2 Market size and forecast, by Battery Chemistry
- 8.3.6.2.3 Market size and forecast, by Vehicle Type
- 8.3.6.2.4 Market size and forecast, by Application
- 8.3.6.3 Italy
- 8.3.6.3.1 Market size and forecast, by Source
- 8.3.6.3.2 Market size and forecast, by Battery Chemistry
- 8.3.6.3.3 Market size and forecast, by Vehicle Type
- 8.3.6.3.4 Market size and forecast, by Application
- 8.3.6.4 Spain
- 8.3.6.4.1 Market size and forecast, by Source
- 8.3.6.4.2 Market size and forecast, by Battery Chemistry
- 8.3.6.4.3 Market size and forecast, by Vehicle Type
- 8.3.6.4.4 Market size and forecast, by Application
- 8.3.6.5 UK
- 8.3.6.5.1 Market size and forecast, by Source
- 8.3.6.5.2 Market size and forecast, by Battery Chemistry
- 8.3.6.5.3 Market size and forecast, by Vehicle Type
- 8.3.6.5.4 Market size and forecast, by Application
- 8.3.6.6 Rest of Europe
- 8.3.6.6.1 Market size and forecast, by Source
- 8.3.6.6.2 Market size and forecast, by Battery Chemistry
- 8.3.6.6.3 Market size and forecast, by Vehicle Type
- 8.3.6.6.4 Market size and forecast, by Application
- 8.4 Asia-Pacific
- 8.4.1 Key trends and opportunities
- 8.4.2 Asia-Pacific Market size and forecast, by Source
- 8.4.3 Asia-Pacific Market size and forecast, by Battery Chemistry
- 8.4.4 Asia-Pacific Market size and forecast, by Vehicle Type
- 8.4.5 Asia-Pacific Market size and forecast, by Application
- 8.4.6 Asia-Pacific Market size and forecast, by country
- 8.4.6.1 China
- 8.4.6.1.1 Market size and forecast, by Source
- 8.4.6.1.2 Market size and forecast, by Battery Chemistry
- 8.4.6.1.3 Market size and forecast, by Vehicle Type
- 8.4.6.1.4 Market size and forecast, by Application
- 8.4.6.2 Japan
- 8.4.6.2.1 Market size and forecast, by Source
- 8.4.6.2.2 Market size and forecast, by Battery Chemistry
- 8.4.6.2.3 Market size and forecast, by Vehicle Type
- 8.4.6.2.4 Market size and forecast, by Application
- 8.4.6.3 India
- 8.4.6.3.1 Market size and forecast, by Source
- 8.4.6.3.2 Market size and forecast, by Battery Chemistry
- 8.4.6.3.3 Market size and forecast, by Vehicle Type
- 8.4.6.3.4 Market size and forecast, by Application
- 8.4.6.4 South Korea
- 8.4.6.4.1 Market size and forecast, by Source
- 8.4.6.4.2 Market size and forecast, by Battery Chemistry
- 8.4.6.4.3 Market size and forecast, by Vehicle Type
- 8.4.6.4.4 Market size and forecast, by Application
- 8.4.6.5 Australia
- 8.4.6.5.1 Market size and forecast, by Source
- 8.4.6.5.2 Market size and forecast, by Battery Chemistry
- 8.4.6.5.3 Market size and forecast, by Vehicle Type
- 8.4.6.5.4 Market size and forecast, by Application
- 8.4.6.6 Rest of Asia-Pacific
- 8.4.6.6.1 Market size and forecast, by Source
- 8.4.6.6.2 Market size and forecast, by Battery Chemistry
- 8.4.6.6.3 Market size and forecast, by Vehicle Type
- 8.4.6.6.4 Market size and forecast, by Application
- 8.5 LAMEA
- 8.5.1 Key trends and opportunities
- 8.5.2 LAMEA Market size and forecast, by Source
- 8.5.3 LAMEA Market size and forecast, by Battery Chemistry
- 8.5.4 LAMEA Market size and forecast, by Vehicle Type
- 8.5.5 LAMEA Market size and forecast, by Application
- 8.5.6 LAMEA Market size and forecast, by country
- 8.5.6.1 Brazil
- 8.5.6.1.1 Market size and forecast, by Source
- 8.5.6.1.2 Market size and forecast, by Battery Chemistry
- 8.5.6.1.3 Market size and forecast, by Vehicle Type
- 8.5.6.1.4 Market size and forecast, by Application
- 8.5.6.2 Saudi Arabia
- 8.5.6.2.1 Market size and forecast, by Source
- 8.5.6.2.2 Market size and forecast, by Battery Chemistry
- 8.5.6.2.3 Market size and forecast, by Vehicle Type
- 8.5.6.2.4 Market size and forecast, by Application
- 8.5.6.3 South Africa
- 8.5.6.3.1 Market size and forecast, by Source
- 8.5.6.3.2 Market size and forecast, by Battery Chemistry
- 8.5.6.3.3 Market size and forecast, by Vehicle Type
- 8.5.6.3.4 Market size and forecast, by Application
- 8.5.6.4 Rest of LAMEA
- 8.5.6.4.1 Market size and forecast, by Source
- 8.5.6.4.2 Market size and forecast, by Battery Chemistry
- 8.5.6.4.3 Market size and forecast, by Vehicle Type
- 8.5.6.4.4 Market size and forecast, by Application
CHAPTER 9: COMPANY LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product Mapping of Top 10 Player
- 9.4. Competitive Dashboard
- 9.5. Competitive Heatmap
- 9.6. Key developments
CHAPTER 10: COMPANY PROFILES
- 10.1 BYD Co, Ltd.
- 10.1.1 Company overview
- 10.1.2 Company snapshot
- 10.1.3 Operating business segments
- 10.1.4 Product portfolio
- 10.1.5 Business performance
- 10.1.6 Key strategic moves and developments
- 10.2 Global Battery Solutions, Ltd.
- 10.2.1 Company overview
- 10.2.2 Company snapshot
- 10.2.3 Operating business segments
- 10.2.4 Product portfolio
- 10.2.5 Business performance
- 10.2.6 Key strategic moves and developments
- 10.3 Daimler AG
- 10.3.1 Company overview
- 10.3.2 Company snapshot
- 10.3.3 Operating business segments
- 10.3.4 Product portfolio
- 10.3.5 Business performance
- 10.3.6 Key strategic moves and developments
- 10.4 Samsung SDI Co., Ltd
- 10.4.1 Company overview
- 10.4.2 Company snapshot
- 10.4.3 Operating business segments
- 10.4.4 Product portfolio
- 10.4.5 Business performance
- 10.4.6 Key strategic moves and developments
- 10.5 LG Chem Ltd.
- 10.5.1 Company overview
- 10.5.2 Company snapshot
- 10.5.3 Operating business segments
- 10.5.4 Product portfolio
- 10.5.5 Business performance
- 10.5.6 Key strategic moves and developments
- 10.6 Groupe PSA
- 10.6.1 Company overview
- 10.6.2 Company snapshot
- 10.6.3 Operating business segments
- 10.6.4 Product portfolio
- 10.6.5 Business performance
- 10.6.6 Key strategic moves and developments
- 10.7 GS Yuasa Corporation
- 10.7.1 Company overview
- 10.7.2 Company snapshot
- 10.7.3 Operating business segments
- 10.7.4 Product portfolio
- 10.7.5 Business performance
- 10.7.6 Key strategic moves and developments
- 10.8 General Motors
- 10.8.1 Company overview
- 10.8.2 Company snapshot
- 10.8.3 Operating business segments
- 10.8.4 Product portfolio
- 10.8.5 Business performance
- 10.8.6 Key strategic moves and developments
- 10.9 Toshiba Corporation
- 10.9.1 Company overview
- 10.9.2 Company snapshot
- 10.9.3 Operating business segments
- 10.9.4 Product portfolio
- 10.9.5 Business performance
- 10.9.6 Key strategic moves and developments
- 10.10 Envision AESC
- 10.10.1 Company overview
- 10.10.2 Company snapshot
- 10.10.3 Operating business segments
- 10.10.4 Product portfolio
- 10.10.5 Business performance
- 10.10.6 Key strategic moves and developments
- 10.11 Nissan Motor Co., Ltd.
- 10.11.1 Company overview
- 10.11.2 Company snapshot
- 10.11.3 Operating business segments
- 10.11.4 Product portfolio
- 10.11.5 Business performance
- 10.11.6 Key strategic moves and developments
- 10.12 Toyota Motor Corporation
- 10.12.1 Company overview
- 10.12.2 Company snapshot
- 10.12.3 Operating business segments
- 10.12.4 Product portfolio
- 10.12.5 Business performance
- 10.12.6 Key strategic moves and developments
- 10.13 BMW Group
- 10.13.1 Company overview
- 10.13.2 Company snapshot
- 10.13.3 Operating business segments
- 10.13.4 Product portfolio
- 10.13.5 Business performance
- 10.13.6 Key strategic moves and developments
- 10.14 Tesla Inc
- 10.14.1 Company overview
- 10.14.2 Company snapshot
- 10.14.3 Operating business segments
- 10.14.4 Product portfolio
- 10.14.5 Business performance
- 10.14.6 Key strategic moves and developments
- 10.15 Johnson Controls, inc.
- 10.15.1 Company overview
- 10.15.2 Company snapshot
- 10.15.3 Operating business segments
- 10.15.4 Product portfolio
- 10.15.5 Business performance
- 10.15.6 Key strategic moves and developments
- 10.16 Lithium Wrecks
- 10.16.1 Company overview
- 10.16.2 Company snapshot
- 10.16.3 Operating business segments
- 10.16.4 Product portfolio
- 10.16.5 Business performance
- 10.16.6 Key strategic moves and developments
- 10.17 Mitsubishi Electric Corporation
- 10.17.1 Company overview
- 10.17.2 Company snapshot
- 10.17.3 Operating business segments
- 10.17.4 Product portfolio
- 10.17.5 Business performance
- 10.17.6 Key strategic moves and developments