Electric Vehicle Recycled Battery Materials Market Size to Reach US$ 300.8 Million in 2025, Says Stratview Research - Seite 2

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The market is segmented based on the source of battery as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). BEV is likely to remain the growth engine of the market during the forecast period. The vehicle type witnessed the most impressive growth from 2013 as compared to HEV and PHEV. 

Based on the battery type, the market is segmented as lithium-ion battery and nickel-metal hydrid battery. Lithium-ion is likely to remain the most dominant as well as the faster-growing segment over the next five years in terms of both value as well as volume. Lithium-ion batteries are already ruling the EV market, resulting in a large volume of batteries reaching end-of-life.

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In terms of regions, Asia-Pacific is projected to remain the largest market during the forecast period driven by the huge pile of used batteries in China. Currently, China owns the largest EV fleet size as 99% of E-buses runs in China. Also, the country is the house of all the major EV battery recyclers such as GEM Co. Ltd and Guangdong Brunp Recycling Technology Co. Ltd.

However, Europe is likely to grow at the highest rate over the next five years, owing to the stringent regulations imposed by the European Union. The European Regulation has made it mandatory for battery manufacturers to finance the cost of collecting, treating, and recycling all the collected batteries. In Europe, Germany and the UK are the growth engines of the EV recycled battery materials market.

The EV recycled battery materials market is consolidated with the presence of a few global and a good number of local players. Furthermore, the market recorded some M&A activities because of its emerging phase. Among the few M&A activities performed in the market, the most noticeable one is the acquisition of Guangdong Brunp Recycling Technology Co. Ltd by Contemporary Amperex Technology Co. Ltd. (CATL), one of the leading battery manufacturers for electric vehicles.