The study involved four major activities in estimating the current size of the EV battery recycling market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include annual reports, press releases, investor presentations of companies, white papers, certified publications, and articles from recognized authors. Secondary research has been mainly used to obtain key information about the value chain of the industry, the total pool of key players, market classification, segmentation according to industry trends to the bottommost level, regional markets, and key developments from both market and application perspectives.
Primary Research
After understanding the EV battery recycling market scenario through secondary research, extensive primary research has been conducted. Primary interviews have been conducted with market experts from both demand- and supply-side players across North America, Europe, and Asia Pacific. Approximately 20% of interviews have been conducted from the demand side, while 80% of primary interviews have been conducted from the supply side. The primary data has been collected through questionnaires, emails, and telephonic interviews.
In the canvassing of primaries, various departments within organizations, such as sales and operations, have been covered to provide a holistic viewpoint in this report. Primary sources from the supply side include various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various battery recyclers, industry associations, independent consultants/industry veterans, and key opinion leaders have also been interviewed.
After interacting with industry experts, brief sessions with highly experienced independent consultants have been conducted to reinforce the findings from the primaries. This, along with the opinions of in-house subject matter experts, has led to the findings described in this report.
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Multiple approaches were adopted for estimating and forecasting the web content management market. The first approach involves estimating the market size by companies’ revenue generated through the sale of WCM products.
Market Size Estimation Methodology- Top-down approach
Multiple approaches were adopted for estimating and forecasting the EV battery recycling market. The first approach involved estimating the market size by summation of revenue generated through the sale of recycled EV batteries materials. The top-down and bottom-up approaches were used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall EV battery recycling market. The research methodology used to estimate the market size includes the following details. The key players in the market were identified through secondary research, and their market shares in respective regions were determined through primary and secondary research. The entire procedure included studying the annual and financial reports of top market players and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
EV Battery Recycling Market : Top-Down Approach
EV Battery Recycling Market : Bottom-Up Approach
Data Triangulation
After arriving at the overall size of the global market through the abovementioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand and supply-side participants.
Market Definition
Electric vehicle battery recycling is the process of recovering and reusing materials from used electric vehicle batteries, primarily lithium-ion batteries, to minimize environmental impact and manage waste. The process involves collecting and sorting batteries, dismantling, and shredding to isolate components, and employing chemical and mechanical methods to extract valuable materials such as lithium, cobalt, and nickel. Recovered materials can be reused in the manufacturing of new batteries, contributing to resource conservation and reducing the demand for raw materials. Efficient recycling also helps manage hazardous waste disposal responsibly, fostering a more sustainable and circular approach in the electric vehicle industry.
Stakeholders
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Automobile Manufacturers
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Battery-related Service Providers
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Contract manufacturing organizations (CMOs)
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End Users
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EV Battery Casing Manufacturers
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EV Component Manufacturers
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EV Battery Manufacturing Organizations
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EV Battery Cell Manufacturing Organizations
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EV Battery Pack Manufacturing Organizations
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EV Battery Raw Material Miners and Suppliers
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EV Battery Raw Material Refinery Companies
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Electric vehicle battery recycling companies
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Manufacturers in end-use industries
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NGOs, governments, investment banks, venture capitalists, and private equity firms
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Regional manufacturers and chemical associations
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Traders, distributors, and suppliers of electric vehicle battery recycling
Report Objectives
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To define, describe, and forecast the EV battery recycling market in terms of value and volume.
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To define, describe, and forecast the market based on battery chemistry, recycling process, vehicle type, material extraction and region
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To segment and forecast the market size, by volume, based on vehicle type (Passenger cars, Pick-up trucks, Vans, Trucks, Buses and Two-wheelers)
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To segment and forecast the market size, by volume, based on battery chemistry (LFP, NMC, NCA)
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To segment and forecast the market size, by value and volume, based on material (Lithium, Manganese, Cobalt, Nickel, Copper, Graphite, Aluminium, Steel, Iron)
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To provide qualitative insights on the market based on recycling process (Hydrometallurgical process, Pyrometallurgy process and Physical/mechanical Process)
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To forecast the size of various segments of the market based on three regions—North America, Europe, and Asia Pacific—along with their key countries
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To analyze regional markets for growth trends, prospects, and their contribution to the overall market
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To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
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To strategically analyze markets with respect to individual growth trends, prospects, and contribution to the total market
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To analyze opportunities for stakeholders and the competitive landscape for market leaders
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To study the following with respect to the market
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Supply Chain Analysis
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Ecosystem Analysis
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Technology Analysis
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Pricing Analysis
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Case Study Analysis
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Patent Analysis
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Regulatory Landscape
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Key Stakeholders and Buying Criteria
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To strategically profile key players and comprehensively analyze their market share and core competencies
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To analyze the impact of the AI on the market
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To track and analyze competitive developments such as deals (agreements, mergers & acquisitions, partnerships, collaborations), and other activities carried out by key industry participants
Available Customizations
With the given market data, MarketsandMarkets offers customizations in line with the company’s specific needs.
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Additional Company Profiles (Up to Five)
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EV Battery Recycling Market, By Material Extracted, At Country Level (For Countries Covered in The Report)
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EV Battery Recycling Market, By Battery Chemistry, At Country Level (For Countries Covered in The Report)
LARGEST MARKET IN 2024- 2035
ASIA PACIFIC FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in EV Battery Recycling Market