121 0 Kommentare EV Battery Recycling Market to be Worth $10.1 Billion by 2031 - Exclusive Report by Meticulous Research

REDDING, Calif., May 16, 2024 /PRNewswire/ --According to a new market research report titled, 'EV Battery Recycling Market by Type (Li-ion, Ni-MH, SLA), Source (Commercial, Passenger, E-bikes), Process (Direct, Pyro, Hydro), Model (Contractual Services, Direct-to-Market), Material (Graphite, Lithium), and Geography—Global Forecast to 2031,' the electric vehicles (EVs) battery recycling market is expected to reach $10.1 billion by 2031, at a CAGR of 40.9% from 2024 to 2031.

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EV battery recycling is the process of recovering materials such as graphite, nickel, cobalt, copper, manganese, lithium, aluminum, and other valuable metals from used EV batteries. The need for sustainable solutions for the disposal of used batteries due to the popularity of electric vehicles continues to grow. Recycling helps reduce the environmental impact of EV battery waste and reduce waste, conserving resources. The valuable materials extracted from EV batteries can be sold and used in new battery production, reducing the need for mining and processing new materials.

The growth of this market is mainly driven by the stringent government regulatory framework, growing demand for EVs, and rising concerns regarding the depletion of raw materials required for EV battery production. Additionally, the surging government incentives for battery recycling and growing innovations in recycling technologies are expected to create market growth opportunities.

However, safety concerns due to the use of hazardous materials in batteries may restrain the growth of this market. The high setup cost of battery recycling plants and lower recovery rates through battery recycling processes are major challenges for the players operating in the electric vehicles battery recycling market.

The EV battery recycling market is segmented by battery type (lithium-ion batteries (Li-ion), sealed lead acid batteries (SLA), nickel-metal hydride batteries (Ni-MH), other batteries), battery source (commercial vehicles (heavy commercial vehicles, light commercial vehicles), passenger cars (battery electric vehicles, pure hybrid electric vehicles, plug-in hybrid electric vehicles), e-scooters & motorcycles, E-bikes), recycling process (direct physical recycling process, pyrometallurgical process, hydrometallurgical process, and other recycling processes), business model (contractual recycling services and direct-to-market), material (graphite, nickel, cobalt, copper, manganese, lithium, aluminum, iron, plastics, and other materials), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.