Press release
Li-Ion Battery Recycling Market Latest Trends, Growth, Development and Demand Forecast to 2030
Under the battery type segment, the lithium-cobalt battery captures a significant share of the industry. It is predicted to retain its dominance in the near future, ascribed to the large energy density f the LCO batteries. It makes them suitable for portable electronic devices, such as mobile phones, laptops, and tablets. Additionally, recycled LCO batteries possess high discharge voltage leading to their multiple applications.
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Under the end-user segment, the automotive industry captures the largest share of the industry, and it is projected to reflect the fastest growth in the near future. It is led by the growing adoption of electric vehicles worldwide. Moreover, the limited lithium reserves contribute to the recycling of lithium-ion batteries for future use. The rising adoption of electric vehicles is projected to propel the demand for the recycling of lithium-ion batteries in the coming future.
The lithium-ion battery recycling solutions industry has reflected tremendous growth, led by the rising automotive industry. It is ascribed to the surging adoption of electric vehicles, specifically in emerging nations, as well as rising environmental concerns. The number of EVs will rise to 245 million units in 2030, led by the growing lithium-ion batteries to cater to the future demand for batteries, according to the Sustainable Development Scenario of IEA.
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The major players operating in the lithium-ion battery recycling industry are; Li-Cycle Corp., RECUPYL S.A.S., Retriev Technologies, Neomatals Ltd., Li-Cycle Corp., American Manganese Inc., Umicore Group, Hunan Brunp Recycling Technology Co. Ltd., and Ganfeng Lithium Co. Ltd.
Therefore, the demand for lithium-ion battery recycling is projected to rise in the coming years, led by the limited availability of lithium.
Browse more related reports:
Global Li-Ion Battery Market Report - https://www.psmarketresearch.com/market-analysis/lithium-ion-battery-market
Second-Life Automotive Lithium-Ion Battery Market - https://www.psmarketresearch.com/market-analysis/second-life-automotive-lithium-ion-battery-market
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