Europe Electric Vehicle Lithium-Ion Battery Recycling Market, By Process (Pyrometallurgical, Hydrometallurgical, Others), Application (Passenger Car, Commercial Vehicle), Country (Switzerland, Italy, Germany, France, U.K, Spain, Belgium, Netherlands, Russia, Turkey, Luxemburg, Rest of Europe), Industry Trends and Forecast To 2029
Market Analysis and Insights: Europe Electric Vehicle Lithium-Ion Battery Recycling Market
Europe electric vehicle lithium-ion battery recycling market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing at a CAGR of 21.3% in the forecast period of 2022 to 2029 and is expected to reach USD 276,835.03 thousand by 2029.
Lithium-ion (Li-ion) batteries are rechargeable batteries used in electric vehicles. Methods used for the recycling of lithium-ion batteries are pyrometallurgical and hydrometallurgical.
The number of electric vehicles is increasing due to improved battery technologies and low maintenance requirements for these lithium-ion batteries. Moreover, the improvements in battery recycling techniques and government economic stimulus policies in battery recycling methods are expected to boost the electric vehicle lithium-ion battery recycling market. On the other hand, the lack of awareness among the people for electric vehicle battery recycling may restrain the growth of the Europe electric vehicle lithium-ion battery recycling market.
Growing environmental awareness and conservation of natural resources is providing opportunities in the electric vehicle lithium-ion battery recycling market. However, accessible installation of batteries while utilizing minimum space may act as a challenge to the electric vehicle lithium-ion battery recycling market.
This Europe electric vehicle lithium-ion battery recycling market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Europe electric vehicle lithium-ion battery recycling market Scope and Market Size
Europe electric vehicle lithium-ion battery recycling market is segmented on the basis of process and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of process, the Europe electric vehicle lithium-ion battery recycling market is segmented into pyrometallurgical, hydrometallurgical, and others. In 2021, the pyrometallurgical segment is expected to dominate the Europe electric vehicle lithium-ion battery recycling market as the pyrometallurgical process allows a short-process chain and less environmental impact, which increases its demand globally. The demand for pyrometallurgical is increasing due to the acceptance of various types of battery chemistries and easier scalability.
- On the basis of application, the Europe electric vehicle lithium-ion battery recycling market is segmented into passenger car and commercial vehicle. In 2021, the passenger car segment is expected to dominate the Europe electric vehicle lithium-ion battery recycling market as passenger cars have lower fueling and maintenance costs. The EU regulation has set the mandatory targets for average fleet CO2 emissions for new cars, making the passenger car segment dominant in the region.
Europe Electric Vehicle Lithium-Ion Battery Recycling Market Country Level Analysis
Europe market is analyzed, and market size information is provided by process and application.
The countries covered in the Europe electric vehicle lithium-ion battery recycling market report are Switzerland, Italy, Germany, France, U.K, Spain, Belgium, Netherlands, Russia, Turkey, Luxemburg, Rest of Europe. Germany is expected to dominate the Europe electric vehicle lithium-ion battery recycling market due to the increase in the growing demand for zero-emission vehicles. France is expected to dominate the Europe electric vehicle lithium-ion battery recycling market due to lower operating and maintenance costs. U.K is expected to dominate Europe electric vehicle lithium-ion battery recycling market due to growing awareness of vehicle emissions along with increasing government initiatives.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Europe Electric Vehicle Lithium-Ion Battery Recycling Market
Europe electric vehicle lithium-ion battery recycling market t also provides you with detailed market analysis for every country's growth in the installed base of different kinds of products for the market, the impact of technology using lifeline curves and changes in infant formula regulatory scenarios, and their impact on the electric vehicle lithium-ion battery recycling market. The data is available for the historical period 2010 to 2020.
Competitive Landscape and Europe Electric Vehicle Lithium-Ion Battery Recycling Market Share Analysis
Europe electric vehicle lithium-ion battery recycling market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to the Europe electric vehicle lithium-ion battery recycling market
The major players covered in the report are Umicore, American Manganese Inc., Glencore, FORTUM, Duesenfeld GmbH, ACCURE-Recycling GmbH, Tata Chemicals Ltd., ECOBAT, GanfengLithium, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In August 2021, FORTUM and Valmet Automotive entered into cooperation in sustainable recycling of battery materials to ensure the safe and sustainable recycling of all non-conforming battery materials from Valmet Automotive's battery plants in Salo and Uusikaupunki. This will help boost the development of a circular economy and sustainable development-based value chain for both companies
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