North America Electric Vehicle Lithium-Ion Battery Recycling Market Set to Reach Valuation of USD 262,675.40 Thousand by 2029

North America electric vehicle lithium-ion battery recycling market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing at a CAGR of 21.2% in the forecast period of 2022 to 2029 and is expected to reach USD 262,675.40 Thousand by 2029.

Lithium-ion (Li-ion) batteries are rechargeable batteries used in electric vehicles. Methods used for the recycling of lithium-ion batteries are pyrometallurgical and hydrometallurgical.

The number of electric vehicles is increasing due to improved battery technologies and low maintenance requirements for these lithium-ion batteries. Moreover, the improvements in battery recycling techniques and government economic stimulus policies in battery recycling methods are expected to boost the electric vehicle lithium-ion battery recycling market. On the other hand, the lack of awareness among the people for electric vehicle battery recycling may restrain the growth of the North America electric vehicle lithium-ion battery recycling market.

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Some of the major players covered in the report are Umicore, Retrieve technologies, American Manganese Inc., Li-Cycle corps, Neometals Ltd., Glencore, Brunp recycle technology Co.Ltd. (A subsidiary of CATL), Tata Chemicals Ltd., Lithion Recycling Inc., ECOBAT, GanfengLithium, among others

North America Electric Vehicle Lithium-Ion Battery Recycling Market Scope and Market Size

North America electric vehicle lithium-ion battery recycling market is segmented on the basis of process and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of process, the North America electric vehicle lithium-ion battery recycling market is segmented into pyrometallurgical, hydrometallurgical, and others. In 2022, the pyrometallurgical segment is expected to dominate the North America electric vehicle lithium-ion battery recycling market as the pyrometallurgical process allows a short-process chain and less environmental impact, thereby increasing its demand. In North America, the demand for pyrometallurgical segment is increasing due to the low capital cost of the process.
On the basis of application, the North America electric vehicle lithium-ion battery recycling market is segmented into passenger car and commercial vehicle. In 2022, the passenger car segment is expected to dominate the electric vehicle lithium-ion battery recycling market due to prominent electric vehicle technologies that contribute to reducing air pollution.

North America Electric Vehicle Lithium-Ion Battery Recycling Market Country Level Analysis

North America market is analyzed, and market size information is provided by process and application.

The countries covered in the North America electric vehicle lithium-ion battery recycling market report are the U.S., Canada, and Mexico. The U.S. is expected to dominate the North America electric vehicle lithium-ion battery recycling market due to the rise in the adoption of zero-emission electric vehicles. Mexico is expected to dominate the North America electric vehicle lithium-ion battery recycling market due to the growing demand for low emission commuting and governments supporting policies. Canada is expected to dominate the North America electric vehicle lithium-ion battery recycling market due to technological advancements and the mass production of electric vehicle batteries.

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This release was published on openPR.