EV Battery Recycling Market to Record 27.5% CAGR Growth Through 2029 | Global Analysis Report

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EV Battery Recycling Market Outlook: How is the Market Expected to Grow by 2025?
In the past few years, the market size for EV battery recycling has seen rapid expansion. It's projected to surge from $2.98 billion in 2024 to $3.82 billion in 2025, indicating a compound annual growth rate (CAGR) of 28.2%. This notable growth during the historical period is mainly due to factors such as growing environmental awareness, increased security in supply chains, the upsurge in sales of electric vehicles, advancements and research in innovation, as well as efforts toward a circular economy.

EV Battery Recycling Market Forecast: What Size Will It Reach By 2029?
In the coming years, the market size of EV battery recycling is predicted to experience substantial growth, potentially reaching $10.09 billion by 2029, with a compound annual growth rate (CAGR) of 27.5%. Various factors will contribute to this growth during the forecast period including an emphasis on research and development, increased environmental consciousness and sustainability objectives, investments in recycling infrastructure and a market demand for recycled materials. Key trends anticipated during this period consist of closed-loop recycling systems, advancements in recycling technologies, lithium-ion battery innovation, collaboration in the industry ecosystem, and a priority on material recovery and purity.

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Which Key Market Drivers Will Shape EV Battery Recycling Industry Trends in 2025-2029?
The surge in electric vehicle (EV) sales is anticipated to fuel the expansion of the EV battery recycling market in the future. EVs, which are cars that are either partially or entirely driven by electricity, have a battery that powers an electric engine. The batteries utilised in these EVs store vital minerals that can be extracted and recycled from decommissioned EV batteries, which are then repurposed for new battery production utilised in electric cars. For example, the Global Electric Vehicle (EV) Outlook 2023 report, issued by the France-based autonomous intergovernmental organization, the International Energy Agency (IEA), predicts that the total count of EVs will surge from approximately 30 million in 2022 to nearly 240 million by 2030, demonstrating an estimated yearly growth rate of around 30%. By 2025, EV sales are expected to surpass 20 million vehicles overall, and by 2030, exceed 40 million or more than 20% and 30% of all vehicle sales, respectively. Consequently, the growth in electric vehicle sales is fostering the demand for the expansion of the EV battery recycling market.

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What Are the High-Growth Segments in the EV Battery Recycling Market?
The ev battery recycling market covered in this report is segmented -

1) By Battery Type: Lead-Acid Battery, Lithium-Based Battery, Other Battery Types
2) By Process: Pyrometallurgical, Hydrometallurgical, Other Processes
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Application: Electric Cars, Electric Buses, Energy Storage Systems, Other Applications

Subsegments:
1) By Lead-Acid Battery: Flooded Lead-Acid Batteries, Valve-Regulated Lead-Acid (VRLA) Batteries
2) By Lithium-Based Battery: Lithium-Ion Batteries, Lithium Polymer Batteries, Lithium Iron Phosphate (LiFePO4) Batteries
3) By Other Battery Types: Nickel-Metal Hydride (NiMH) Batteries, Solid-State Batteries, Other Emerging Battery Technologies

Which Global Trends Are Driving EV Battery Recycling Market Expansion?
The rise of innovative methods is a significant trend gaining traction in the EV battery recycling market. Many leading entities in this sector are formulating fresh and creative procedures to retrieve useful minerals from batteries. To exemplify, in March 2022, Koura, which manufactures fluor products, and Ascend Elements, a producer of cutting-edge battery components in the US, have collaboratively devised a novel method known as Hydro-to-Anode. This method can extract 99.9% pure graphite out of used batteries. Comparable to virgin graphite, the recovered graphite can be utilized to create new batteries. Being cost-efficient, this approach facilitates economical recycling of lithium-ion (Li-ion) batteries while reducing reliance on mining fresh materials.

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Who Are the Fastest-Growing Companies in the EV Battery Recycling Industry?
Major companies operating in the EV battery recycling market include Glencore International AG, Veolia Environnement Société Anonyme, Ganfeng Lithium Co. Ltd., Umicore NV, Viridor Waste Management, Gravita India Limited, Ziptrax Cleantech, Redwood Materials Incorporated, Retriev Technologies, Cirba Solutions, Accurec Recycling GmbH, Li-Cycle Corp., Lithion Recycling Incorporated, Recytech, Lohum Cleantech, Recupyl, Attero Recycling, Australian Battery Recycling Initiatives, American Manganese Incorporated, ACE Green Recycling Incorporated, Call2Recycle, TES-Amm, Envirostream, CleanCycle

What Is the Regional Outlook for the EV Battery Recycling Market by 2029?
Asia-Pacific was the largest region in the EV battery recycling market in 2024. The regions covered in the EV battery recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
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