Growth Opportunities in Electric Vehicle (EV) Battery Reuse and Recycling

Growth Opportunities in Electric Vehicle (EV) Battery Reuse and Recycling

Government Regulations and Environmental Concerns Prompt Market Participants to Establish Circular Economy

RELEASE DATE
11-Oct-2022
REGION
North America
Deliverable Type
Market Research
Research Code: PC17-01-00-00-00
SKU: AU02398-GL-MR_26877
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Description

Environmental concerns resulting from the increasingly apparent climate change effects drive the worldwide adoption of sustainable transportation. With governments phasing out vehicles that run on fossil fuels through stringent emissions regulations, people are purchasing electric vehicles (EVs) in significant numbers. The global EV market recorded over 75.6% revenue growth in 2021, increasing battery demand. However, when they reach the end of their life as EV batteries, they still have 60% to 70% of their capacity. This opens up opportunities to repurpose batteries in second-life applications and recycle them to extract valuable elements such as cobalt and nickel, leading to the growing EV battery reuse and recycling market.

Although the current market trend indicates a preference for recycling in the short term (two to three years), rising technological sophistication, proven business models, and clear regulations will increase second-life applications in the long term.

In this report, Frost & Sullivan analyzes the following market aspects:
•     Regulatory framework by region, including global, Europe, China, and Japan
•     Value chain, business models, and prominent participants
•     Top automotive EV OEMs’ plans and alliances on battery reuse and recycling
•     Major battery recycling companies by region (the Americas, Europe, China, and Asia-Pacific)
•     Strategic imperatives and growth opportunities

Author: Prajyot Sathe

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the EV Battery Reuse and Recycling Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Scope

Growth Drivers

Growth Restraints

EV Battery Second-life Trends—Highlights

EV Battery Life Cycle

Secondary Life Applications

Challenges and Barriers in EV Battery Reuse and Recycling

Regulatory Outlook—Highlights

Regulatory Framework for EV Battery Reuse and Recycling—Global

Regulatory Framework for EV Battery Reuse and Recycling—Europe

Regulatory Framework for EV Battery Reuse and Recycling—China

Regulatory Framework for EV Battery Reuse and Recycling—Japan

SSR—Global Scenario

Reuse and Recycling Market Outlook—Highlights

Battery Reuse and Recycling—Installed Battery

Estimated Reuse and Recycling Capacity—Up to 2030

EV Battery Value Chain—Highlights

LIB Recycling Value Chain

The Establishment of a Circular Economy

Reuse and Recycling Market Business Models—Highlights

Automotive OEM Business Models—Highlights

Battery Manufacturer Business Models—Highlights

Recovery Process for Used LIDs

Recycling Value Chain Players

Automotive OEMs’ Strategies and Activities

Life Cycle Assessment—VW Battery

Second-life Applications and Recycling

VW Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—Daimler Battery

Daimler Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—BMW Battery

BMW Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—Hyundai Battery

Hyundai Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—Tesla Battery

Tesla Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—RNM Battery

RNM Strategy and Activities Surrounding Battery Recycling and Reuse

RNM Strategy and Activities Surrounding Battery Recycling and Reuse (continued)

Life Cycle Assessment—GM Battery

GM Strategy and Activities Surrounding Battery Recycling and Reuse

Life Cycle Assessment—Stellantis Battery

Other Automotive OEM Activities Surrounding Second-life Applications

Regional Overview—EV Battery Recycling Companies

EV Battery Recycling Companies—Americas

EV Battery Recycling Companies—Americas (continued)

EV Battery Recycling Companies—Europe

EV Battery Recycling Companies—Europe (continued)

EV Battery Recycling Companies—China

EV Battery Recycling Companies—APAC

Umicore

4R Energy

Ningbo Brunp CATL New Energy

Li-Cycle

Redwood Materials

American Manganese

Primobius

Retriev Technologies

Ganfeng Lithium

Lithion Recycling

Growth Opportunity 1—Establish Parallel Industries for Battery Recycling and Manufacturing

Growth Opportunity 1—Establish Parallel Industries for Battery Recycling and Manufacturing (continued)

Growth Opportunity 2—Vehicle Manufacturers Prefer using Batteries for Second-life Applications over Recycling

Growth Opportunity 2—Vehicle Manufacturers Prefer using Batteries for Second-life Applications over Recycling (continued)

Growth Opportunity 3—Develop a Circular Economy for a Seamless Business Case in the Value Chain

Growth Opportunity 3—Develop a Circular Economy for a Seamless Business Case in the Value Chain (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Environmental concerns resulting from the increasingly apparent climate change effects drive the worldwide adoption of sustainable transportation. With governments phasing out vehicles that run on fossil fuels through stringent emissions regulations, people are purchasing electric vehicles (EVs) in significant numbers. The global EV market recorded over 75.6% revenue growth in 2021, increasing battery demand. However, when they reach the end of their life as EV batteries, they still have 60% to 70% of their capacity. This opens up opportunities to repurpose batteries in second-life applications and recycle them to extract valuable elements such as cobalt and nickel, leading to the growing EV battery reuse and recycling market. Although the current market trend indicates a preference for recycling in the short term (two to three years), rising technological sophistication, proven business models, and clear regulations will increase second-life applications in the long term. In this report, Frost & Sullivan analyzes the following market aspects: • Regulatory framework by region, including global, Europe, China, and Japan • Value chain, business models, and prominent participants • Top automotive EV OEMs’ plans and alliances on battery reuse and recycling • Major battery recycling companies by region (the Americas, Europe, China, and Asia-Pacific) • Strategic imperatives and growth opportunities Author: Prajyot Sathe
More Information
Deliverable Type Market Research
Author Prajyot Sathe
Industries Automotive
No Index No
Is Prebook No
Podcast No
WIP Number PC17-01-00-00-00