Global EV Battery Reuse Market Report and Forecast 2025-2034

Global EV Battery Reuse Market Outlook

The global EV battery reuse market size reached approximately USD 350 million in 2023. The market is projected to grow at a CAGR of 26.5% between 2024 and 2032, reaching a value of around USD 2,910 million by 2032.

Key Trends in the Market

EV (electric vehicle) battery reuse refers to the process of disassembling EV batteries, after they have reached the end of their life, and repurposing them for other applications that do not require the same high-performance standards as a vehicle.

• One of the key factors aiding the global EV battery reuse market growth is technological advancements. As research and development efforts in battery technology continue to advance, EV batteries are being made to be more durable and capable of retaining a higher percentage of their original capacity even after they can no longer meet the demands of a vehicle.

• Used batteries from electric vehicles can be connected to the electrical grid, providing grid operators with a valuable tool for balancing supply and demand. This is particularly important in regions with high dependency on renewable energy sources, where power availability can change with the weather conditions.

• Rising environmental concerns and increasing focus on waste reduction and promoting circular economy are significant factors supporting the global EV battery reuse market demand. Producing new lithium-ion batteries requires raw material extraction, which has environmental impacts. Reusing batteries reduces the demand for new production, thus minimising the environmental footprint linked to mining and manufacturing.

Market Analysis

Based on battery type, the market can be segmented into lithium-manganese oxide, lithium-iron phosphate, lithium-titanate oxide, lithium-nickel-cobalt-aluminium oxide, and lithium-nickel-manganese cobalt. The global EV battery reuse market segmentation, based on source, includes hybrid electric vehicle, battery electric vehicles, fuel cell electric vehicle, and plug-in hybrid electric vehicle.

Furthermore, based on the vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The market, based on application, is divided into energy storage, base stations, low speed vehicles, and EV charging. The major regional markets for EV battery reuse are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global EV battery reuse market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• General Motors Co.

• BMW AG

• LG Corporation

• Ecobat, LLC

• ATC Drivetrain, Inc.

• Stena Metall AB (BatteryLoop)

• Ganfeng Lithium Group Co., Ltd.

• Li-Cycle Holdings Corp.

• Redwood Materials Inc.

• Lithion Technologies

• Others

Market Share by Vehicle Type

According to the global EV battery reuse market analysis, passenger vehicles are expected to register high growth during the forecast period owing to their high adoption rate in developed countries. EVs are also increasingly being introduced in emerging economies, which is likely to enhance the circulation of EV and EV batteries. Eventually, these vehicles will reach the end of their usable life, generating a larger supply of used batteries for potential reuse.

Furthermore, governments and regulatory bodies may become more inclined to support the market for EV battery reuse as they recognise its potential environmental benefits and ability to contribute to resource conservation.

Market Share by Region

North America is expected to be the leading region, occupying a significant portion of the global EV battery reuse market share owing to its early transition towards electric vehicles and environmental conservation methods. Governments and regulatory bodies in North America have shown increasing interest in promoting sustainable practices in the automotive sector. This includes incentives and policies aimed at encouraging the reuse of EV batteries.

Competitive Landscape

General Motors Co., commonly known as GM, is one of the largest and most well-known automotive manufacturers in the world. The company was founded in the year 1908 and was established as a holding company for several automobile companies, including Buick and Oldsmobile. General Motors owns several well-known automobile brands, including Chevrolet, GMC, Buick, and Cadillac.

BMW AG is one of the largest and most renowned German automobile manufacturers in the world. With its headquarters located in Munich, Germany, the company has established a strong presence in over 150 countries around the world. BMW manufactures a wide range of vehicles, including luxury cars, SUVs, electric vehicles, and motorcycles.

LG Corporation, widely known by people as LG, is a multinational conglomerate based in South Korea. It is one of the largest and most diverse companies in the world, with operations spanning various sectors including electronics, chemicals, telecommunications, home appliances, and more. LG is renowned for its technological innovations, particularly in the fields of electronics and home appliances.

Other major players in the global EV battery reuse market are Ecobat, LLC, ATC Drivetrain, Inc., Stena Metall AB (BatteryLoop), Ganfeng Lithium Group Co., Ltd., Li-Cycle Holdings Corp., Redwood Materials Inc., and Lithion Technologies., among others.

Key Highlights of the Report