EV Battery Reuse Market Size

EV Battery Reuse Market Size

The global EV battery reuse market size was reached USD 393.6 million in 2023 and is expected to grow at a CAGR of 46.6% from 2024 to 2032. This tremendous growth comes from the world’s expansion of EV adoption which leaves behind many used EV batteries for remanufacturing into other usable products such as ESS.

The International Energy Administration suggests the use of electric vehicles grew to about 4% of total car sales in 2020 and reached 18% in 2023. National policies and regulations that focus on improving the environment are also enhancing the market by encouraging battery recycling and refurbishment to achieve lower carbon emissions and practice principles of circular economy. At the same time, active innovations in the engineering of battery control systems and energy storage systems continue to increase the efficiency and practicality of EV battery reuse, which has become a big factor in market growth.