Electric Vehicles Battery Recycling Market worth $56.3 billion by 2031

CHICAGO, Feb. 21, 2024 /PRNewswire/ — The report “Electric Vehicles Battery Recycling Market by Source (Passenger Vehicles, Commercial Vehicles, E-Bikes), Chemistry (Li-NMC, LFP, LMO, LTO, NCA), Process, and Region (North America, Europe, Asia Pacific) – Global Forecast to 2031″, is projected to grow from USD 9.0 billion in 2023 to USD 56.3 billion by 2031, at a CAGR of 25.8% during the forecast period. High demand from the automotive and consumer electronic sector is expected to drive the EV Battery Recycling Market.

Browse in-depth TOC on “Electric Vehicles Battery Recycling Market”

217 – Tables

48 – Figures

211 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=187105929

The Lithium Nickel Manganese Cobalt is expected to account for the largest share of the EV Battery Recycling Market, by battery chemistry, during the forecast period, in terms of value

By battery chemistry type, the lithium nickel manganese cobalt is estimated to have the largest market share by volume. Lithium Nickel Manganese Cobalt battery chemistry provides increased energy/power density and a decreased footprint compared to Lithium Iron Phosphate (LFP) batteries. With commendable energy density, lithium nickel manganese cobalt are undergoing continuous advancements, contributing to the growth of EV Battery Recycling Market.

By source, passengers segment is expected to account for the largest market share during the forecast period in terms of value.

Based on source, the passenger segment is estimated to account for the largest share of the market during the forecast period. This is driven by the rising demand for electric passenger cars, supported by factors like convenience, comfort, and personal mobility preferences. The increasing global awareness and adoption of electric vehicles, along with government initiatives such as supportive policies, incentives, and charging infrastructure development, contribute to the dominance of the passenger cars segment. These factors collectively indicate that the passenger segment is projected to maintain its leading position in the EV battery recycling market during the specified period.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=187105929

Asia Pacific is projected to register the largest market share during the forecast period.

Asia Pacific is estimated to lead the market during the forecast period, driven by robust economic growth and substantial investments in the automotive and electronics sectors. Notably, emerging economies like China and India have played a pivotal role in establishing Asia-Pacific as a significant market for EV Battery recycling. Additionally, an increase in purchasing power of the population and government support are likely to propel EV Battery Recycling Market.

Some of the leading players in this market include Contemporary Amperex Technology Co., Limited. (China), Glencore (Switzerland), GEM Co., Ltd. (China), ERAMET (France), Li-Cycle Corp (Canada), Umicore (Belgium) among others.

Browse Adjacent Market: Equipment Machine and Tooling Market Research Reports

Related Reports:

Battery Recycling Market – Global Forecast to 2030

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/electric-vehicles-battery-recycling-market.asp

Visit Our Website: https://www.marketsandmarkets.com/

Content Source: https://www.marketsandmarkets.com/PressReleases/electric-vehicles-battery-recycling.asp