Press release
EV Battery Recycling Market Top Key Players - Accurec Recycling Germany, American Manganese Inc., Battery Solutions, Li Cycle Corporation, G&P batteries, Recupyl, Retriev Technologies, Australian Battery Recycling Initiative, Spiers New Technologies, Umic
Cathode materials including cobalt, nickel, lithium, and manganese are being targeted in the initial phase. Disassembled battery system components, such as aluminium and copper, are recycled according to industry standards. A number of unique EV battery recycling methods are now being researched with the goal of increasing the recovery rate of minerals like cobalt and nickel during the recycling process.
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GLOBAL EV BATTERY RECYCLING MARKET DYNAMICS
The lack of gathering infrastructure to move hoarded EV batteries to a centralized place where large volumes could result in scale economies further complicates reuse and recycling. Because the quantities are modest and they have been spread in small numbers at vehicle dealerships, repair shops, and metals shredding companies around the country, there is still no structured collection network for Battery systems in various countries.
Battery packs are beginning to appear in sufficient numbers at salvage yards to raise concerns about their recycling management. EV battery reuse appears to be a viable business model with significant profit margins, assuming concerns about accountability and standards can be addressed.
GLOBAL EV BATTERY RECYCLING MARKET SEGMENTATION
The Global EV Battery Recycling Market can be segmented into following categories for further analysis.
EV Battery Recycling Market By Battery Type
• Lead Acid Batteries
• Lithium-Ion Batteries
EV Battery Recycling Market By Process Type
• Pyrometallurgical Process
• Hydrometallurgical Process
EV Battery Recycling Market By Technology Focus Type
• Passenger Vehicles
• Commercial Vehicles
• Military Vehicles
EV Battery Recycling Market By Regional Classification
• Asia Pacific Region - APAC
• Middle East and Gulf Region
• Africa Region
• North America Region
• Europe Region
• Latin America and Caribbean Region
RECENT TECHNOLOGICAL TRENDS IN GLOBAL EV BATTERY RECYCLING MARKET
Electric vehicle batteries typically last 8 years or 100,000 miles (or possibly more), and energy guarantees that cover this serviceability are widespread. In practise, however, it has been discovered that battery packs can last far longer than expected.
While a small percentage of EV batteries will approach end-of-life sooner than 8 years owing to battery failure or vehicle crashes, this is expected to be between 1% and 3% of the total EV stock. Extraction defects, rising temperatures, inappropriate recharging, electrolytes or separation damage, and long-term, repeated cycling deterioration are all major causes of EV battery problems.
EV BATTERY RECYCLING MARKET COMPETITIVE LANDSCAPE
The battery-powered renaissance, fuelled by the need to reduce carbon emissions in private transportation in order to meet global goals for reducing greenhouse gas emissions and improving urban air quality, is set to transform the automobile industry.
Based on acceptable estimates of an approximate battery pack weight of 250 kg and dimensions of half a cubic metre, the associated package wastes would be around 250,000 tonnes and half a million cubic metres of untreated pack waste whenever these automobiles reach the end of their lifespan.
EV BATTERY RECYCLING MARKET COMPANIES PROFILED
• Accurec Recycling Germany
• American Manganese Inc.
• Battery Solutions
• Li Cycle Corporation
• G&P batteries
• Recupyl
• Retriev Technologies
• Australian Battery Recycling Initiative
• Spiers New Technologies
• Umicore NV Belgium
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