Global EV Battery Reuse Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029
The cost of discarding and recycling the replaced battery is very high when it still has most capacity, so besides providing solid business opportunities, the reuse of the battery also reduces waste and increases the effective service life of 5-10 years. In addition, the battery reuse of electric vehicles has the following benefits: disassembling the electricity supply, increase of grid stability, new business opportunities, Increased resource efficiency, Independence in energy supply，extending the lifetime of EV batteries，reducing the environmental impact of manufacturing/recycling batteries，the system is able to work in an off-grid mode (autonomy). Therefore, the solution of battery reuse of electric vehicles has broad prospects.Market Overview:
The latest research study on the global EV Battery Reuse market finds that the global EV Battery Reuse market reached a value of USD 2007.28 million in 2022. It’s expected that the market will achieve USD 55369.0 million by 2028, exhibiting a CAGR of 73.82% during the forecast period.
The industrial chain is affected
The impact of pneumonia epidemic in COVID-19 on the global battery recycling industry of electric vehicles involves all major links and entities in the industrial chain. Under the epidemic situation, the management efficiency of the company declined, commuting was severely hindered, the production plan was severely hindered, the network expansion and marketing were delayed, the brand was forced to adjust, the market sales declined, and the income of the company and employees was damaged.
The production cost of enterprises increases
With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.
High repair difficulty
Inconsistency in chemical composition, specification and size of battery pack electrodes, lack of standardization of battery design and fragmentation of battery capacity may greatly increase the complexity of battery recycling, which may become an obstacle in the development of electric vehicle battery recycling market.
Lower battery costs
The declining cost of new batteries may also inhibit the growth of the industry. If the reduction of the battery recycling cost of electric vehicles cannot keep up with the reduction of the production cost of new batteries, the cost difference between the old and new batteries will be continuously narrowed, which will inhibit the development of EV battery recycling industry.
Lack of government regulations
There are many uncertainties in the immature supervision system. Although most markets have some form of laws and regulations that require the recycling or remanufacturing of consumer electronic products in general, most markets have no specific requirements for electric vehicle batteries or the division of responsibilities between producers and consumers, and only some targeted examples are set up (for example, in California and China). Lack of regulations brings uncertainty to OEMs, secondary battery companies and potential customers. Lack of supervision also leads to regional differences in whether recycling or reuse is the main way.Region Overview:
From 2023-2028, China is estimated to witness robust growth prospects.Company Overview:
BAIC Motor Corporation Limited is one of the major players operating in the EV Battery Reuse market, holding a share of 12.24% in 2020.
BAIC Motor Corporation Limited
BAIC Motor Corporation Limited is a Chinese car manufacturer based in Beijing, China.
In 2010, it launched 4R Energy Corp., a joint venture with Sumitomo Corp. This company is developing and testing to use EV batteries as part of a stationary energy storage system. The company's business includes: the development, manufacture and sale of lithium ion battery system, and the manufacture and sale of secondary lithium ion battery on board.Segmentation Overview:
As for product types, the HEV & PHEV segment held the largest market share in 2022.
BEV (Battery Electric vehicle), simply speaking, only relies on power battery and driving motor to provide power for the vehicle to run. It is mainly composed of chassis, body, power battery, driving motor, electrical equipment and other auxiliary systems. Battery reuse of BEV electric vehicles refers to the solution of battery reuse of BEV vehicles.
HEV & PHEV
HEV (Hybrid Electric Vehicle) is a hybrid drive system with the original traditional automobile engine drive system unchanged, which reduces the demand for fossil fuels and improves fuel economy, thus achieving the effects of energy saving, emission reduction and mitigation of greenhouse effect. PHEV (Plug in Hybrid Electric Vehicle) is a new type of hybrid electric vehicle. It also has an internal combustion engine and a generator. The main power source is the internal combustion engine, which runs in the auxiliary drive mode of motor. Moreover, the battery capacity of plug-in hybrid electric vehicle is larger than that of oil, and it can be charged externally, so it can run in pure electric mode. HEV&PHEV electric vehicle reuse refers to the electric vehicle reuse solution of HEV and PHEV vehicles.Application Overview:
By application, the Base stations segment occupied the biggest share from 2018 to 2022.Key Companies in the global EV Battery Reuse market covered in Chapter 3:
Samsung SDI Co., Ltd
LG Chem Ltd.
Spiers New Technologies
BAIC Motor Corporation Limited
Toyota Motor Corporation
China Lithium Battery Technology Co., Ltd.
Global Battery Solutions, Ltd.
BYD Co, Ltd.In Chapter 4 and Chapter 14.2, on the basis of types, the EV Battery Reuse market from 2018 to 2029 is primarily split into:
HEV & PHEVIn Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the EV Battery Reuse market from 2018 to 2029 covers:
Low speed vehiclesGeographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:
North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)