Electric Vehicles Battery Recycling Market Size to Reach USD 172.86 Billion by 2035 as Closed-Loop Recycling Gains Momentum

According to DataM Intelligence, the electric vehicles battery recycling market size was valued at USD 1.61 Billion in 2025, reached USD 2.31 Billion in 2026, and is projected to reach USD 172.86 Billion by 2035, growing at a CAGR of 43.67% during the forecast period from 2026 to 2035. North America currently leads the market, supported by expanding recycling infrastructure and increasing investments in domestic battery supply chains.
The market is growing as governments, automotive manufacturers, and battery producers focus on securing critical raw materials while reducing battery waste. Rising electric vehicle adoption is creating a larger pipeline of end-of-life batteries, increasing demand for recycling technologies capable of recovering lithium, nickel, cobalt, and other valuable materials. Partnerships between automakers and recycling companies, along with investments in closed-loop supply chains, continue to shape market trends and support long-term electric vehicles battery recycling market growth.
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Electric Vehicles Battery Recycling Market Recent Developments
• May 2026: GEM Co., Ltd. strengthened its battery recycling operations as China expanded policies and traceability systems aimed at improving lithium-ion battery recycling and supporting circular economy initiatives.
• May 2026: Redwood Materials expanded its second-life battery energy storage business through Redwood Energy, increasing the use of retired EV battery packs in stationary energy storage applications while continuing to recover battery materials.
• April 2026: Fortum received approval to expand the processing capacity of its battery recycling facility in Germany, supporting higher volumes of lithium-ion battery recycling across Europe.
• March 2026: Fortum signed a grant agreement with the European Climate, Infrastructure and Environment Executive Agency to support the expansion of its next-generation hydrometallurgical battery recycling project in Finland.
• March 2026: Li-Cycle remained a major industry focus as restructuring activities highlighted the industry's emphasis on improving operational efficiency and achieving commercial-scale recycling.

Electric Vehicles Battery Recycling Market Mergers & Acquisitions
• May 2026: Automotive manufacturers continued strengthening partnerships with specialized battery recyclers to establish closed-loop supply chains and improve access to recycled battery materials.
• April 2026: Battery recycling companies expanded strategic collaborations with battery manufacturers to improve material recovery and strengthen regional recycling capacity.
• March 2026: Recycling technology providers increased cooperation with governments and industry organizations to accelerate investments in battery collection, processing, and refining infrastructure.
• February 2026: Leading battery recyclers continued expanding long-term agreements with electric vehicle manufacturers to secure future supplies of recycled lithium, nickel, and cobalt for battery production.
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Electric Vehicles Battery Recycling Market Segmentation
By Battery Type
• Lithium Nickel Manganese Cobalt (NMC)
• Lithium Iron Phosphate (LFP)
• Lithium Titanate Oxide (LTO)
• Lithium Manganese Oxide (LMO)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
Lithium Nickel Manganese Cobalt batteries account for the leading share because they contain higher concentrations of valuable materials such as lithium, nickel, and cobalt.
By Vehicle Type
• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• Others
Passenger cars represent the largest segment, supported by the growing global electric vehicle fleet and increasing future volumes of end-of-life batteries.
By Process
• Hydrometallurgical
• Pyrometallurgical
• Mechanical
• Others
Hydrometallurgical recycling leads the market due to its higher recovery rates for critical battery materials and lower environmental impact.
By Application
• Electric Vehicles
• Energy Storage Systems
• Consumer Electronics
• Others
Electric vehicles remain the largest application segment as battery recycling is increasingly integrated into automotive supply chains.
By Region
• North America
• Europe
• South America
• Asia Pacific
• Middle East
• Africa
North America holds the leading regional share, supported by strong investments in battery manufacturing, recycling infrastructure, and government initiatives that encourage localized critical mineral supply chains.

Electric Vehicles Battery Recycling Market Competitive Landscape
Companies are focusing on improving material recovery rates, expanding recycling capacity, and building closed-loop supply chains that return recovered battery materials to new battery production. Strategic collaborations between original equipment manufacturers and recycling companies continue to shape the competitive environment and support the growth of the electric vehicles battery recycling industry.
Top Electric Vehicles Battery Recycling Market Key Players
• GEM Co., Ltd.
• Redwood Materials Inc.
• Li-Cycle Corp.
• Fortum
• Umicore
GEM Co., Ltd.
GEM Co., Ltd. has established itself as one of the leading companies in battery recycling by recovering valuable materials from end-of-life lithium-ion batteries. The company continues to expand its recycling network while supporting battery manufacturers with recycled raw materials for new battery production.
Redwood Materials Inc.
Redwood Materials focuses on building a closed-loop battery supply chain by recovering lithium, nickel, cobalt, and other critical materials from used batteries. The company is also expanding second-life battery applications, helping extend battery life before materials are returned to the manufacturing cycle.
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Electric Vehicles Battery Recycling Market Regional Analysis
North America holds the leading share of the electric vehicles battery recycling market, supported by growing investments in domestic battery manufacturing, expanding recycling infrastructure, and government initiatives aimed at strengthening critical mineral supply chains. Partnerships between automotive manufacturers and recycling companies are also accelerating the development of closed-loop battery ecosystems across the region.

Conclusion
The electric vehicles battery recycling market growth is becoming an important part of the global electric vehicle value chain as battery recycling shifts from an environmental initiative to a strategic source of critical raw materials. Rising electric vehicle adoption, increasing battery retirement volumes, and expanding closed-loop recycling programs are encouraging investment across collection, processing, and material recovery operations.
The electric vehicles battery recycling market forecast remains positive as electric vehicle adoption continues to increase worldwide. Growing volumes of end-of-life batteries are creating long-term demand for advanced recycling technologies capable of recovering critical minerals needed for future battery manufacturing. At the same time, governments and automotive manufacturers are placing greater emphasis on reducing dependence on newly mined raw materials through circular economy strategies.
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