Electric Vehicle Battery Recycling Market by Application (Electric Cars, Electric Buses, Energy Storage Systems, and Others) and Region - Global Forecast to 2027
The electric vehicle market has evolved at pace as a result of continuous developments in engineering and technology. The rising concerns over carbon emissions from different means of commuting and operating costs are major drivers for the growth of the global electric vehicle market. There are 2 types of batteries widely used in electric vehicle, namely, lead-acid and lithium-ion. Lithium ion battery packs have an estimated life time of 10 years – or about 150,000 miles, however disposal or recycling of these batteries is one of the major concern.
Government in Europe and China have already taken proactive steps to plan and implement strategies to recycle EV batteries. Li-cycle, American Manganese Inc., ACCUREC Recycling GmbH, Retriev Technologies, Umicore are some of the leading player in battery recycling market.
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Growth opportunities and latent adjacency in Electric Vehicle Battery Recycling Market