The electric vehicle lithium-ion battery recycling market, categorized by pyrometallurgical and hydrometallurgical methods, addresses the sustainability of battery disposal. These recycling processes facilitate the recovery of valuable materials, contributing to resource conservation. Applications span passenger and commercial vehicles, aligning with the growing demand for eco-friendly transportation solutions. As the market advances, innovative recycling techniques and applications in both sectors play a pivotal role in promoting a circular economy and reducing the environmental footprint of electric vehicles.
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Data Bridge Market Research analyses that the North America Electric Vehicle Lithium-Ion Battery Recycling Market value, which was USD 56,415.50 thousand in 2021, is expected to reach the value of USD 262,675.40 thousand by 2029, at a CAGR of 21.2% during the forecast period 2022-2029. Intensifying competition among manufacturers and recyclers is a pivotal driver in the electric vehicle lithium-ion battery recycling market. This dynamic promotes continuous innovation and heightened efficiency, accelerating advancements in recycling technologies and practices within the industry.
Key Findings of the Study
Consumer awareness is expected to drive the market's growth rate
Consumer awareness is a key driver in the electric vehicle lithium-ion battery recycling market. As environmental consciousness grows, consumers increasingly recognize the impact of battery disposal. This heightened awareness fuels demand for sustainable recycling options, prompting industry stakeholders to prioritize eco-friendly practices. The push for responsible battery recycling aligns with consumers' green preferences, driving the market's expansion as it meets the rising need for environmentally conscious solutions in the disposal and recycling of lithium-ion batteries from electric vehicles.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Process (Pyrometallurgical, Hydrometallurgical, Others), Application (Passenger Car, Commercial Vehicle)
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Countries Covered
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U.S., Canada and Mexico in North America.
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Market Players Covered
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Umicore (Belgium), Retrieve Technologies (U.S.), American Manganese Inc. (Canada), Li-Cycle Corp (Canada), Neometals Ltd. (Australia), Glencore (Switzerland), Brunp Recycle Technology Co. Ltd. (China), Tata Chemicals Ltd. (India), Lithion Recycling Inc. (Canada), ECOBAT (U.K.), Ganfeng Lithium (China)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The North America electric vehicle lithium-ion battery recycling market is segmented on the basis of process and application.
- On the basis of process, the North America electric vehicle lithium-ion battery recycling market is segmented into pyrometallurgical, hydrometallurgical, and others
- On the basis of application, the North America electric vehicle lithium-ion battery recycling market is segmented into passenger car and commercial vehicle
Major Players
Data Bridge Market Research recognizes the following companies as the North America electric vehicle lithium-ion battery recycling market players in North America electric vehicle lithium-ion battery recycling market are Umicore (Belgium), Retrieve Technologies (U.S.), American Manganese Inc. (Canada), Li-Cycle Corp (Canada), Neometals Ltd. (Australia), Glencore (Switzerland).
Market Developments
- In February 2023, Contemporary Amperex Technology Co., Limited (CATL), Mercedes-Benz, and GEM Co., Ltd. entered a Memorandum of Understanding to collaborate on the recycling of cobalt, nickel, manganese, and lithium metals. This partnership reflects a commitment to sustainable practices in the electric vehicle lithium-ion battery recycling market. By jointly addressing the recycling of essential battery components, the companies aim to contribute to resource conservation and promote environmentally responsible practices within the electric vehicle industry
- In May 2022, Li-Cycle Corp., a prominent player in the electric vehicle lithium-ion battery recycling market, received a substantial investment of USD 200 million from Glencore. This infusion of capital aims to support Li-Cycle's upcoming recycling plants, reinforcing the company's position in advancing sustainable practices within the electric vehicle industry. The investment reflects a broader industry acknowledgment of the critical role played by Li-Cycle in addressing the increasing demand for efficient and environmentally responsible lithium-ion battery recycling solutions
- In March 2021, American Manganese Inc. inked a Memorandum of Understanding with Italvolt, leveraging its patented lithium-ion battery cathode recycling process - RecycLiCo. The collaboration aims to establish a commercial recycling plant adjacent to Italvolt's planned Gigafactory in Scarmagno, Italy. This strategic partnership combines American Manganese's expertise in battery recycling with Italvolt's Gigafactory, fostering a sustainable ecosystem for lithium-ion battery production and recycling in support of the growing electric vehicle industry
- In June 2021, Umicore revealed plans to invest in Solid Power, a U.S.-based battery manufacturer. This strategic move aims to bolster Umicore's product portfolio in the electric vehicle lithium-ion battery recycling market. By investing in Solid Power, Umicore seeks to enhance its position in the electric mobility sector, fostering collaboration and innovation to address the increasing demand for sustainable solutions in lithium-ion battery production and recycling for the growing electric vehicle market
Regional Analysis
Geographically, the countries covered in the North America electric vehicle lithium-ion battery recycling market report are U.S., Canada and Mexico in North America.
As per Data Bridge Market Research analysis:
U.S. dominates in the North America electric vehicle lithium-ion battery recycling market during the forecast period 2022-2029
The U.S. dominates the North America electric vehicle lithium-ion battery recycling market, driven by the increasing adoption of zero-emission electric vehicles. As the demand for electric vehicles rises, recycling becomes crucial for sustainable resource management. The U.S., with its growing commitment to clean energy and environmental consciousness, dominates the market, reflecting a strategic focus on recycling practices to manage the lifecycle of lithium-ion batteries and reduce environmental impact.
Mexico is expected to dominate the North America electric vehicle lithium-ion battery recycling market in the forecast period 2022-2029
Mexico is expected to dominate the North America electric vehicle lithium-ion battery recycling market, propelled by increasing demand for low-emission transportation and supportive government policies. The emphasis on sustainable practices aligns with the growing popularity of electric vehicles. As Mexico embraces eco-friendly commuting solutions, the nation is well-positioned to dominate the market, reflecting a harmonious blend of environmental consciousness, government backing, and the rising preference for electric vehicles in the region.
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