Electric Vehicle Battery Recycling: Challenges and Opportunities

According to a recent report published by Allied Market Research, titled," Electric Vehicle Battery Recycling Market by Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025," Increase in global concerns regarding the negative effect of climate change along with alarming pollution levels recorded in the major cities have created a significant demand for electric vehicles. The demand for fuel-efficient vehicles has increased recently owing to rise in price of petrol and diesel. Thus, these factors increase the need for advanced fuel-efficient technologies, leading to surge in demand for electrically powered vehicles for travel, which generate demand for the batteries. These batteries are recycled once they reach end of their life. The first batch of batteries from electric and hybrid vehicles have reached their retirement age. The total number of batteries retired from electric bus and car equals to around 55,000 units and is expected to be recycled in 2018. Thus, increase in demand for electric vehicles drives the growth of the EV battery recycling market.

 

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/5216

 

Various companies are working on effective technique to recycle the lithium-ion batter in optimized manner after analyzing the potential demand for the recycled raw materials, such as nickel, cobalt, lithium, and others. For instance, Kemetco is working with American Manganese to develop a scalable and commercialized recycling technology for Lithium-ion batteries, which is low cost as well as environment friendly. In addition, the amount of the recycled lithium is expected to satisfy 9% of the global demand for lithium in various applications. More than 66% of the spent EV batteries are expected to be recycled in China which will be used to serve the countrys fast growing battery material industry.


𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

 

SITRASA, RETRIEV TECHNOLOGIES, LI-CYCLE CORP., FLORIDIENNE (SNAM S.A.S.), G & P BATTERIES, AMERICAN MANGANESE INC., RECUPYL, UMICORE, ACCUREC RECYCLING GMBH, BATTERY SOLUTIONS

 

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/5216

 

Key Findings of the Electric Vehicle Battery Recycling Market:

  • Based on application, the electric buses segment generated the highest revenue in the global electric vehicle battery recycling market in 2017.
  • LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
  • In 2017, Asia-Pacific contributed the highest electric vehicle battery recycling market share, followed by Europe, North America, and LAMEA.

Buy Now: https://www.alliedmarketresearch.com/checkout-final/99e291727cc31a778aa596fef583c587

 

Recycling of EV batteries involves processes such as collecting, dismantling, processing, and more. Approximately, 15 jobs are created per thousand tons of lithium-ion battery waste, for collecting, dismantling, and recycling these batteries. Out of these 15 jobs, 20% of jobs are for the recycling of batteries and 80% are for collecting and dismantling lithium-ion batteries. This increases the job opportunities in the industry. This growth might be fueled by the government initiatives such as subsidies on the sales of electric vehicles, which eventually result in increase in sales of the battery of the electric vehicle. Therefore, increase in job opportunities involved in the recycling process of these batteries drives the electric vehicle battery recycling market growth.

 

Read More Reports:

 

Electric Vehicle Market - https://www.alliedmarketresearch.com/electric-vehicle-market

 

Electric Vehicle Charging Connector Market - https://www.prnewswire.com/news-releases/electric-vehicle-ev-charging-connector-market-to-reach-273-2-million-globally-by-2032-at-17-0-cagr-allied-market-research-301870146.html 

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