The electric vehicle battery recycling market was estimated to be worth USD 9.6 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 26.2% from 2025 to 2035, reaching USD 56.6 billion. Recycling electric vehicle batteries is essential to advancing sustainability and aiding in the shift to a cleaner, electric vehicle-powered transportation system.

In addition to saving precious resources, recycling EV batteries lessens the negative environmental effects of battery disposal, such as the possibility of hazardous material contamination of the land and water. By encouraging material reuse and recycling, it lowers waste and greenhouse gas emissions related to battery production and helps to create a circular economy.

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GROWTH DRIVERS

One of the main factors driving the recycling of electric car batteries is the market's exponential growth. In order to manage end-of-life batteries and recover valuable elements for reuse in new batteries, there is an increasing demand for battery recycling infrastructure due to the global expansion in the use of electric vehicles.

Electric car battery recycling is expanding as a result of laws and policies intended to encourage environmentally friendly behavior and lessen its negative effects. To reduce environmental damage and conserve resources, several nations have put laws into place requiring the recycling and appropriate disposal of batteries used in electric vehicles.

The need for recycling electric vehicle batteries is being driven by sustainability objectives and environmental concerns. The sectors are putting more effort into lowering carbon emissions, protecting natural resources, and advancing the ideas of the circular economy. By recovering valuable materials and reducing the environmental impact of battery production and disposal, recycling electric vehicle batteries helps allay these worries.

MARKET SEGMENTATION:

·         By Battery Chemistry – nickel-cadmium battery, nickel-metal hydride battery, lithium-ion battery, lithium polymer battery, sealed lead-acid battery and other battery types

·         By Recycling Process – direct physical/mechanical process, pyrometallurgical method, hydrometallurgical method and other recycling processes

·         By Battery Source - Commercial Vehicles (heavy commercial Vehicles and light Commercial Vehicles), passenger cars (battery electric cars, pure-hybrid electric vehicles, plug-In hybrid electric vehicles), E-scooters and motorcycles and E-Bikes

·         By Recycled Material- Lithium, Cobalt, Nickel, Aluminum, Graphite ad other recycled materials

·         By End-User- Transportation, consumer electronics and industrial

·         By Region - North America, Europe, Asia Pacific, the Middle East and Africa, and South America

Global Key Players:

·         CCUREC-Recycling GmbH

·         RecycLiCo Battery Materials

·         Li-Cycle Holdings

·         Umicore NV

·         Battery Solutions

·         CATL

·         Snam S.p.A

·         Neometals Ltd.

·         Fortum Oyj

·         GEM Co.

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