Product Code: GVR-4-68040-315-6
Lithium-ion Battery Recycling Market Growth & Trends:
The global lithium-ion battery recycling market size is anticipated to reach USD 1.83 billion by 2030, growing at a CAGR of 44.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing unprecedented growth, driven by the surge in demand for electric vehicles (EVs), consumer electronics, and renewable energy storage solutions. As the world is embracing cleaner energy sources, the necessity for sustainable battery manufacturing and disposal practices has become increasingly critical.
The market offers a range of opportunities for businesses, investors, and environmental advocates. Companies specializing in battery recycling, such as Li-Cycle Corp., Retrieve, and Umicore, are developing efficient and cost-effective recycling processes to meet the rising demand.
Moreover, partnerships between battery manufacturers, EV manufacturers, and recycling companies drive collaboration across the value chain, ensuring the responsible management of lithium-ion batteries from production to end-of-life. For instance, in February 2023, Tesla, an EV manufacturer, partnered with Redwood Materials, a battery recycling company established by a former Tesla Chief Technology Officer. This collaboration is focused on advancing technologies dedicated to recycling lithium-ion batteries utilized in Tesla vehicles.
One of the key drivers of the market is the automotive sector's rapid electrification. With significant automakers committing to electrify their vehicle fleets, the demand for lithium-ion batteries is soaring. As a result, the need for efficient recycling solutions to recover valuable materials such as lithium, cobalt, and nickel is paramount.
Lithium-ion Battery Recycling Market Report Highlights:
- Based on application, the transportation segment accounted for the largest revenue share of around 68% in 2023, owing to sustainable environmental concerns, increasing demand for EVs, and several others.
- Based on region, Asia Pacific dominated the market with a revenue of over 40% in 2023 due to high demand for EVs, consumer electronics, and awareness of a sustainable environment. China is one of the significant contributors to the revenue.
- The North American market is expected to grow at a significant CAGR over the forecast period. The demand for cleaner power sources drives the market growth in the region.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Lithium-ion Battery Recycling Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Manufacturing/ Technology Trends
- 3.2.2. Sales Channel Analysis
- 3.2.3. List of Potential Applications
- 3.3. Regulatory Framework, By Regions
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.5.2. Macro-environmental Analysis
Chapter 4. Lithium-ion Battery Recycling Market: Application Estimates & Trend Analysis
- 4.1. Application Movement Analysis & Market Share, 2023 & 2030
- 4.2. Lithium-ion Battery Recycling Market Estimates & Forecast, By Application, 2018 to 2030 (USD Million) (Tons)
- 4.2.1. Transportation
- 4.2.1.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Tons)
- 4.2.2. Consumer Electronics
- 4.2.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Tons)
- 4.2.3. Industrial
- 4.2.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Tons)
Chapter 5. Lithium-ion Battery Recycling Market: Regional Estimates & Trend Analysis
- 5.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 5.2. North America
- 5.2.1. North America Lithium-ion Battery Recycling Estimates & Forecast, 2018 - 2030 (USD Million) (Tons)
- 5.2.2. U.S.
- 5.2.2.1. Key country dynamics
- 5.2.2.2. U.S. Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.2.3. Canada
- 5.2.3.1. Key country dynamics
- 5.2.3.2. Canada Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.2.4. Mexico
- 5.2.4.1. Key country dynamics
- 5.2.4.2. Mexico Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3. Europe
- 5.3.1. Europe Lithium-ion Battery Recycling Estimates & Forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.2. Germany
- 5.3.2.1. Key country dynamics
- 5.3.2.2. Germany Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.3. UK
- 5.3.3.1. Key country dynamics
- 5.3.3.2. UK Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.4. France
- 5.3.4.1. Key country dynamics
- 5.3.4.2. France Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.5. Italy
- 5.3.5.1. Key country dynamics
- 5.3.5.2. Italy Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.6. Spain
- 5.3.6.1. Key country dynamics
- 5.3.6.2. Spain Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.7. Poland
- 5.3.7.1. Key country dynamics
- 5.3.7.2. Poland Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.3.8. Netherlands
- 5.3.8.1. Key country dynamics
- 5.3.8.2. Netherlands Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4. Asia Pacific
- 5.4.1. Asia Pacific Lithium-ion Battery Recycling Estimates & Forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.2. China
- 5.4.2.1. Key country dynamics
- 5.4.2.2. China Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.3. Japan
- 5.4.3.1. Key country dynamics
- 5.4.3.2. Japan Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.4. South Korea
- 5.4.4.1. Key country dynamics
- 5.4.4.2. South Korea Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.5. Taiwan
- 5.4.5.1. Key country dynamics
- 5.4.5.2. Taiwan Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.6. India
- 5.4.6.1. Key country dynamics
- 5.4.6.2. India Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.7. Indonesia
- 5.4.7.1. Key country dynamics
- 5.4.7.2. Indonesia Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.8. Malaysia
- 5.4.8.1. Key country dynamics
- 5.4.8.2. Malaysia Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.9. Thailand
- 5.4.9.1. Key country dynamics
- 5.4.9.2. Thailand Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.10. Vietnam
- 5.4.10.1. Key country dynamics
- 5.4.10.2. Vietnam Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.4.11. Australia
- 5.4.11.1. Key country dynamics
- 5.4.11.2. Australia Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.5. Central & South America
- 5.5.1. Central & South America Lithium-ion Battery Recycling Market Estimates & Forecast, 2018 - 2030 (USD Million) (Tons)
- 5.5.2. Brazil
- 5.5.2.1. Key country dynamics
- 5.5.2.2. Brazil Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.5.3. Argentina
- 5.5.3.1. Key country dynamics
- 5.5.3.2. Argentina Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.5.4. Chile
- 5.5.4.1. Key country dynamics
- 5.5.4.2. Chile Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.6. Middle East & Africa
- 5.6.1. Middles East & Africa Lithium-ion Battery Recycling Market Estimates & Forecast, 2018 - 2030 (USD Million) (Tons)
- 5.6.2. UAE
- 5.6.2.1. Key country dynamics
- 5.6.2.2. UAE Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.6.3. Saudi Arabia
- 5.6.3.1. Key country dynamics
- 5.6.3.2. Saudi Arabia Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
- 5.6.4. South Africa
- 5.6.4.1. Key country dynamics
- 5.6.4.2. South Africa Lithium-ion Battery Recycling Market estimates & forecast, 2018 - 2030 (USD Million) (Tons)
Chapter 6. Lithium-ion Battery Recycling Market - Competitive Landscape
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Company Categorization
- 6.3. Company Market Position Analysis, 2023
- 6.4. Company Heat Map Analysis, 2023
- 6.5. Strategy Mapping
- 6.6. Company Profiles
- 6.6.1. Contemporary Amperex Technology Co., Limited
- 6.6.1.1. Participant's overview
- 6.6.1.2. Financial performance
- 6.6.1.3. Product benchmarking
- 6.6.1.4. Recent developments
- 6.6.2. LG Energy Solution
- 6.6.2.1. Participant's overview
- 6.6.2.2. Financial performance
- 6.6.2.3. Product benchmarking
- 6.6.2.4. Recent developments
- 6.6.3. Panasonic Corporation
- 6.6.3.1. Participant's overview
- 6.6.3.2. Financial performance
- 6.6.3.3. Product benchmarking
- 6.6.3.4. Recent developments
- 6.6.4. SAMSUNG SDI CO., LTD
- 6.6.4.1. Participant's overview
- 6.6.4.2. Financial performance
- 6.6.4.3. Product benchmarking
- 6.6.4.4. Recent developments
- 6.6.5. BYD
- 6.6.5.1. Participant's overview
- 6.6.5.2. Financial performance
- 6.6.5.3. Product benchmarking
- 6.6.5.4. Recent developments
- 6.6.6. SVOLT Energy
- 6.6.6.1. Participant's overview
- 6.6.6.2. Financial performance
- 6.6.6.3. Product benchmarking
- 6.6.6.4. Recent developments
- 6.6.7. Tesla
- 6.6.7.1. Participant's overview
- 6.6.7.2. Financial performance
- 6.6.7.3. Product benchmarking
- 6.6.7.4. Recent developments
- 6.6.8. Shenzhen MANLY Battery Co.
- 6.6.8.1. Participant's overview
- 6.6.8.2. Financial performance
- 6.6.8.3. Product benchmarking
- 6.6.8.4. Recent developments
- 6.6.9. TOSHIBA CORPORATION
- 6.6.9.1. Participant's overview
- 6.6.9.2. Financial performance
- 6.6.9.3. Product benchmarking
- 6.6.9.4. Recent developments
- 6.6.10. SK on Co., Ltd
- 6.6.10.1. Participant's overview
- 6.6.10.2. Financial performance
- 6.6.10.3. Product benchmarking
- 6.6.10.4. Recent developments
- 6.6.11. CALB
- 6.6.11.1. Participant's overview
- 6.6.11.2. Financial performance
- 6.6.11.3. Product benchmarking
- 6.6.11.4. Recent developments
- 6.6.12. Gotion, Inc.
- 6.6.12.1. Participant's overview
- 6.6.12.2. Financial performance
- 6.6.12.3. Product benchmarking
- 6.6.12.4. Recent developments
- 6.6.13. Sunwoda Electronic Co., Ltd.
- 6.6.13.1. Participant's overview
- 6.6.13.2. Financial performance
- 6.6.13.3. Product benchmarking
- 6.6.13.4. Recent developments
- 6.6.14. Li-Cycle Corp.
- 6.6.14.1. Participant's overview
- 6.6.14.2. Financial performance
- 6.6.14.3. Product benchmarking
- 6.6.14.4. Recent developments
- 6.6.15. Helbiz
- 6.6.15.1. Participant's overview
- 6.6.15.2. Financial performance
- 6.6.15.3. Product benchmarking
- 6.6.15.4. Recent developments