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EV Battery Reuse Market Size By Application (Energy Storage, EV Charging, Base Stations, Low Speed Vehicles), By Source (BEV, HEV & PHEV), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

  • Report ID: GMI4812
  • Published Date: Sep 2020
  • Report Format: PDF

Industry Trends

EV battery reuse market was valued at over USD 250 million in 2019 and its cumulative capacity is anticipated to exceed 16 GWh by 2026. Increasing emphasis on paradigm shift from traditional vehicles to electric vehicles on account of escalating carbon footprint will propel the market demand for EV battery reuse.

The EV battery reuse market is anticipated to witness growth on account of rising energy demand across the globe. The technology finds its applications across energy storage, base stations, low speed vehicles and EV charging stations. Growing concerns toward energy security coupled with cost saving potential will positively compliment the adoption of EV battery reuse over the forecast period.

EV Battery Reuse Market Statistics

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However, the beginning of the FY 2020 witnessed the outbreak of coronavirus across the globe. The COVID-19 pandemic has caused large scale lockdown across many countries, resulting in temporary shutdown of several business activities which has affected the EV battery reuse market growth.

Furthermore, lockdowns have also impacted the global supply chains including collection and resale for batteries are key industry challenges. However, despite the economic slowdown, the business is anticipated to recover by late 2020.

The study describes a detailed analysis of EV battery reuse market trends across the globe segmented on a regional & country basis across application and source. Moreover, the market forecasts & estimates are in line with the data represented by authorities including the Energy Information Administration (EIA), International Energy Agency (IEA), government regulatory bodies, and company press releases.

Growing energy demand across the developing countries will augment the market growth of EV battery reuse technology

EV Battery Reuse Market by Application

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Energy storage application accounted for over 10% of the market share in 2019. Escalating energy demand owing to the growing population and shortage of power supply will fuel the of EV battery reuse market statistics over the forecast period. The batteries failing to maintain 80% of total usable capacity are ejected from usage in EVs on account of unfulfillment of performance standards.

The used Li-ion batteries can also be utilized as a back-up system, where the power is stored during the normal gird supply and it discharges when there is power outage especially during extreme climatic conditions. The EV battery reuse market is predicted to grow on account of its ability to power low energy demanding applications as a part of energy storage system.

Rising penetration of BEV will favor the market statistics for EV battery reuse

EV Battery Reuse Market by Source

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The most substantial growth for lithium ion battery deployment is observed from the EV automotive sector where the batteries are deployed to power the electric vehicles. Difficulty in disposal of the batteries and increasing number of reusable batteries on account of rising number of BEV vehicles are some of the paramount factors responsible for the growth of market statistics.

Moreover, the second life lithium ion batteries also find application across data centers and telecom base stations as a secondary power source, which will positively stimulate the EV battery reuse market share.

Supporting government regulations for the adoption of EVs over traditional vehicles will boost the industry growth of Europe EV battery reuse

EV Battery Reuse Market by Region

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Europe second life EV battery reuse market is set to witness growth over 50% by 2026. Several EV manufacturers have established their brand in the market and have achieved domination in the electric vehicle industry statistics. These manufacturers have utilized EV battery reuse technology for different kind of energy storage systems across industries, ranging from small residential establishments to large commercial establishments.

For instance, in 2020, Honda Europe formed a strategic partnership with Société Nouvelle d’Affinage des Métaux (SNAM), which is a waste management company. SNAM will assess the second life usability of from Honda EVs. The companies will then determine the reusability of the EV batteries for applications including energy storage for domestic use and industrial use.

Growing energy demand and security concerns have led the European Union to exert more efforts toward electric vehicle battery reuse, which will stimulate the technology deployment. In order to diminish stress on the grid, governments across Europe are seeking several applications for used EV batteries including energy storage systems for EV charging.

In 2019, Volkswagen installed 12 mobile charging station in Wolfsburg Germany, by using second life EV batteries which can hold a total of 360kWh energy. Moreover, low speed electric vehicles are increasingly gaining traction across Europe, resulting in EV battery reuse market growth across the region.

Strategic collaborations across the value chain act as key focal point for the leading market players

The prominent market players are focused on strategic collaborations across the value chain to enhance their respective market share. In addition. The prominent market players profiled in the EV battery reuse industry report includes GS Yuasa Corporation, Groupe PSA, LG Chem Ltd., Samsung SDI Co., Ltd, BYD Co, Ltd., Global Battery Solutions, Ltd., Daimler AG amongst other.

EV battery reuse market report includes in-depth coverage of the industry with estimates & forecast in terms of “MWh, and ‘USD” from 2015 to 2026, for the following segments:

By Application

  • Energy Storage
  • EV charging
  • Base stations
  • Low speed vehicles

By Source

  • BEV
  • HEV & PHEV

The above information has been provided for the following regions and countries:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • Italy
    • Spain
    • Russia
    • France
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

Global EV battery reuse industry size was more than USD 250 million in 2019.

Global EV battery reuse industry size may exceed 16 GWh by 2026, with an anticipated 32% CAGR through the forecast period, due to increasing shift from conventional vehicles to EVs.

Energy storage application held 10% of EV battery reuse industry share in 2019 and may depict appreciable growth, owing to rising energy demand pertaining to power supply shortage and increasing population.

Europe second life EV battery reuse market size may exhibit 50% CAGR through 2026, as the region houses many prominent EV manufacturers.

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 27
  • Tables & Figures: 261
  • Countries covered: 13
  • Pages: 200

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