Chicago, Feb. 28, 2024 (GLOBE NEWSWIRE) — The Global Electric Vehicles Battery Recycling Market size is projected to grow from USD 9.0 billion in 2023 to USD 56.3 billion by 2031, at a CAGR of 25.8%, as per the recent study by MarketsandMarkets™. The market is experiencing expansion, propelled by the rising demand for electric vehicles (EVs) and plug-in vehicles. The increasing prevalence of lithium-ion batteries is anticipated to further boost the demand for battery recycling, contributing to the overall market growth.
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Browse in-depth TOC on “EV Battery Recycling market.
217 – Market Data Tables
48 – Figures
211 – Pages
List of Key Players in EV Battery Recycling market:
Contemporary Amperex Technology Co., Limited. (China)
Glencore (Switzerland)
GEM Co., Ltd. (China)
ERAMET (France)
Li-Cycle Corp (Canada)
Umicore (Belgium)
Drivers, Opportunities and Challenges in EV Battery Recycling market
Drivers: Increase in demand for recycled products and materials
Restraint: Safety issues related to storage and transportation of spent batteries
Opportunity: Rising adoption of lithium-ion batteries due to decline in prices
Challenge: High recycling cost and dearth of technologies
Key Findings of the Study:
The Lithium Nickel Manganese Cobalt is expected to account for the largest share of the EV Battery Recycling Market, by battery chemistry, during the forecast period, in terms of value
By source, passengers’ segment is expected to account for the largest market share during the forecast period in terms of value.
Asia Pacific is projected to register the largest market share during the …