Growth Opportunities in EV Battery Recycling an Second Life Applications

Growth Opportunities in EV Battery Recycling an Second Life Applications

Europe emerges as the major electric vehicle battery re-use and recycling market

Expected RELEASE DATE
05-Oct-2022
REGION
Global
Research Code: PC17-01-00-00-00
SKU: AU02398-GL-MR_26877

$2,450.00

Special Price $2,205.00 save 10 %

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SKU
AU02398-GL-MR_26877

$2,450.00

$2,205.00save 10 %

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Description

The current trend indicates a higher preference for recycling in the short term (2-3 years). Second life use applications will grow in the long term due to sophistication in technology, proven business models and clear regulations.Government regulations and policies to play a major role in reducing barriers and ensuring responsible, equitable, and sustainable practices in battery re-use. In Europe, Germany will grant more than €1.5 billion to boost battery development, production and recycling. Stationary applications such as for transmission congestion relief, backup power, renewable energy storage are encouraging alternatives than mobility or demanding uses to harvest the remaining potential of used EV batteries. OEMs and energy storage companies have identified the potential second life (possible first wave) applications such as vehicle propulsion, electricity trading, EV charging, increased grid stability and storage of renewable energy. The market size for re-use and recycle is likely to reach 158GWH by 2030 assuming about 10 years of first life and 5 years of second life until its end of life for recycling.European OEMs such as VW, Man Trucks and Renault have already started second life application of batteries in various areas such as re-use in xEVs, residential energy storage and commercial energy storage for charging buses.

The current trend indicates a higher preference for recycling in the short term (2-3 years). Second life use applications will grow in the long term due to sophistication in technology, proven business models and clear regulations.Government regulations and policies to play a major role in reducing barriers and ensuring responsible, equitable, and sustainable practices in battery re-use. In Europe, Germany will grant more than €1.5 billion to boost battery development, production and recycling. Stationary applications such as for transmission congestion relief, backup power, renewable energy storage are encouraging alternatives than mobility or demanding uses to harvest the remaining potential of used EV batteries. OEMs and energy storage companies have identified the potential second life (possible first wave) applications such as vehicle propulsion, electricity trading, EV charging, increased grid stability and storage of renewable energy. The market size for re-use and recycle is likely to reach 158GWH by 2030 assuming about 10 years of first life and 5 years of second life until its end of life for recycling.European OEMs such as VW, Man Trucks and Renault have already started second life application of batteries in various areas such as re-use in xEVs, residential energy storage and commercial energy storage for charging buses.
More Information
Industries Automotive
No Index No
Is Prebook Yes
Podcast No
WIP Number PC17-01-00-00-00