North America EV Battery Reuse Market - By Application (Energy Storage, EV Charging, Base Stations, Low Speed Vehicles), By Source (BEV, HEV & PHEV) & Forecast, 2024 – 2032

North America EV Battery Reuse Market Size

North America EV Battery Reuse Market size surpassed USD 32.8 million in 2023 and is anticipated to grow at a CAGR of 53.3% between 2024 and 2032, driven by the increasing adoption of electric vehicles, leading to a surge in retired EV batteries available for repurposing.
 

As per IEA, U.S. witnessed a total sale of 1.6 million EVs in 2023, which grew from only 0.2 million units in 2016. Initiatives promoting sustainability drive companies to explore reuse options, reducing waste. Advancements in battery management technologies enhance the feasibility of repurposing batteries for secondary applications like grid energy storage. Government incentives supporting battery recycling initiatives further stimulate market growth, fostering investment and innovation in this sector.
 

COVID–19 Impact

The COVID-19 pandemic initially slowed down the North America EV battery reuse industry due to disruptions in supply chains and manufacturing operations. However, as the market adapted to remote work and safety protocols, there was a gradual recovery driven by increased focus on sustainability and the circular economy, leading to renewed interest and investment in EV battery reuse initiatives.
 

North America EV Battery Reuse Market Trends

North America EV battery reuse industry is witnessing a substantial growth owing to factors including the growing emphasis on sustainability and circular economy principles. Technological advancements in battery management systems and energy storage solutions are facilitating the integration of reused batteries into secondary applications such as grid energy storage and stationary power backup. For instance, In July 2020, LG Chemical Ltd. partnered with GS Caltex to develop EV battery services integrated with Big Data, aiming to enhance charging solutions and gain expertise on EV batteries. Moreover, collaborations between automakers, battery manufacturers, and energy companies are fostering innovation and expanding reuse opportunities, further shaping the landscape of the EV battery reuse market in the region.
 

North America EV Battery Reuse Market Analysis

Based on application, the repurposed batteries are utilized for energy storage, EV charging, base stations, and low speed vehicles. North America EV battery reuse industry from energy application is anticipated to grow over USD 600 million by 2032, driven by the increasing demand for sustainable energy solutions. Repurposed EV batteries are utilized in grid energy storage systems and stationary power backup applications, providing cost-effective and environmentally friendly alternatives to conventional energy storage solutions. This trend is fueled by advancements in battery management technologies and government initiatives supporting renewable energy integration, contributing to the market's expansion as stakeholders recognize the value of repurposing EV batteries for energy storage purposes.
 

Based on source, the North America EV battery reuse market is segmented into HEV & PHEV and BEV. The industry from HEV & PHEV is projected to grow at a CAGR of over 40% through 2032. As these vehicles reach the end of their life cycles, their batteries are being repurposed for various applications, including energy storage and grid stabilization. This trend is supported by advancements in battery technology and the growing emphasis on sustainability, fostering a circular economy approach to battery reuse and contributing to the market's expansion in the region.
 

U.S. EV battery reuse market is projected to grow over USD 1.4 billion by 2032, on account of the increasing adoption of electric vehicles, leading to a surplus of retired batteries, which are repurposed for secondary applications. Technological advancements in battery management systems enhance the feasibility of reuse, while government incentives and regulations supporting sustainability and circular economy initiatives propel market expansion. The U.S. Department of Energy has created several manuals, including the Battery Technology Life Verification Test Manual (TLVT), which assists users in comprehending battery life cycles. This understanding enables appropriate recycling or repurposing, reducing pollution from improper disposal practices.
 

North America EV Battery Reuse Market Share

Tesla stands out as one of the largest players in the North America EV battery reuse industry. Renowned for its innovation and dominance in the electric vehicle sector, Tesla's extensive experience and technological prowess position it as a key player in repurposing EV batteries for secondary applications, contributing significantly to the market's growth and development.
 

North America EV Battery Reuse Market Companies

Some of the key market players operating across the market are:

• Ascend Elements, Inc.
• B2U Storage
• Cirba Solutions
• Moment Energy
• Nissan Motor Co., Ltd.
• Renault Group
• RePurpose Energy Inc.
• RWE + Audi
• Spiers New Technologies Inc.
• Stena Metall
• Tesla
   

North America EV Battery Reuse Industry News:

• In September 2021, Cox Automotive, an Automotive solution provider announced the acquisition of Spiers New Technologies Inc (SNT). The new acquisition will aid Cox Automotive in offering innovative end of life EV battery solutions to EV automakers and will further aid SNT in gaining a bigger market share through an expanded outreach to automakers through Cox Automotive.
   
• In December 2019, Tesla, Inc., partnered with Canada's Dalhousie University, filed a patent for an advanced Lithium-ion battery technology. The patented design promises superior performance compared to existing Li-ion batteries commonly used in energy storage and electric vehicles. Developing such patents expands Tesla's product range and reinforces its position in the EV market, attracting a broader customer base.
   

North America EV battery reuse market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume and revenue in MWh and USD Million from 2019 to 2032, for the following segments:

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Market, By Application

• Energy storage
• Ev charging
• Base stations
• Low speed vehicles

Market, By Source

• BEV
• HEV & PHEV

The above information has been provided for the following countries:

• U.S
• Canada