Electric Vehicle (EV) Battery Recycling Market Size, Share & Analysis Report By Type (Lithium-ion, Lead Acid, Others), By Source (End of life, Production Scrap) and Regional Forecasts, 2023 - 2030

Report Overview

The Electric Vehicle (EV) Battery Recycling Market was valued at 1.01 Billion in 2022 and expected to grow at CAGR of 60.12% over forecast period.

The EV battery recycling sector is expected to grow even more in the future due to the rapid growth of the electric vehicle market. More investments, technological advancements, and supportive policies are expected to strengthen the EV battery recycling infrastructure, making it an important component of the sustainable mobility ecosystem.

The electric vehicle (EV) battery recycling market was experiencing significant growth and gaining traction as electric vehicle adoption continued to rise globally. Because EV batteries, which typically use lithium-ion technology, contain valuable and scarce materials, recycling is an essential component of sustainable EV manufacturing and waste management.

Type Outlook

Based on Type, the EV battery recycling Market is segmented into Lithium-ion, Lead Acid, Others. Lithium-ion segment accounted for largest share in 2022. As electric vehicle (EV) adoption continued to rise globally, the lithium battery recycling market was experiencing significant growth and gaining attention. Lithium-ion batteries are the most common type of battery used in electric vehicles, and recycling them is critical for resource management and environmental impact reduction.

The electric vehicle (EV) lead-acid battery recycling market has been steadily growing, owing to rising EV adoption and the need for sustainable battery waste management. While lithium-ion batteries are more common in modern electric vehicles, lead-acid batteries are still used in some hybrid electric vehicles and older EV models. Recycling lead-acid batteries is critical for reducing environmental impacts and ensuring hazardous waste disposal.

Source Outlook

Based on Source, Electric Vehicle (EV) Battery Recycling Market is segmented into End of life and Production Scrap. End of life segment accounted for largest share in 2022.

Continuous R&D efforts have resulted in advancements in end-of-life EV battery recycling technologies, making the process more efficient and economically viable. Automakers, battery manufacturers, recycling companies, and governments are all working together and investing in the development of advanced recycling infrastructure and technologies.

Production scrap segment in the electric vehicle (EV) battery recycling market is steadily growing and gaining importance as the electric vehicle industry expanded globally. Production scrap is waste generated during the EV battery manufacturing process, which includes defective or rejected battery cells, trimmings, and other manufacturing residues. Recycling production scrap is critical for resource conservation, waste reduction, and overall supply chain sustainability in the electric vehicle industry.

Regional Outlook

Asia Pacific is emerged as leading market for Electric Vehicle (EV) Battery Recycling Market in 2022. Asia Pacific is expected to see significant market growth for recycled lithium-ion batteries. Due to rapid developments in the production and recycling of lithium-ion batteries, as well as the growth of the industry, India and China are expected to make significant progress.

North America accounted for second largest share owing to the increasing sales of electric vehicles and consumer electronics in countries such as the U.S., Canada, and Mexico. Rising demand for electric vehicles owing to increasing consumer awareness about the benefits of reducing carbon emissions is expected to fuel the growth of the regional market.

Electric Vehicle (EV) Battery Recycling Market Report Scope

Global Electric Vehicle (EV) Battery Recycling Market, Report Segmentation

Electric Vehicle (EV) Battery Recycling Market, By Type

• Lithium-ion
• Lead Acid
• Others

Electric Vehicle (EV) Battery Recycling Market, By Source

• End-of Life
• Production Scrap

Electric Vehicle (EV) Battery Recycling Market, Regional Outlook

• North America
• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• Spain
• Russia
• France
• Italy

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia

CSA

• Brazil
• Argentina

MEA

• UAE
• Saudi Arabia
• South Africa