Market Research Report
Second-Life Automotive Lithium-Ion Battery Market Research Report: By Type, Vehicle Type, Application - Global Industry Analysis and Growth Forecast to 2030
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||975709|
|Published||Content info||128 Pages
Delivery time: 2-3 business days
|Second-Life Automotive Lithium-Ion Battery Market Research Report: By Type, Vehicle Type, Application - Global Industry Analysis and Growth Forecast to 2030|
|Published: October 1, 2020||Content info: 128 Pages||
Second-Life Automotive Lithium-Ion Battery Market Research Report: By Type (Lithiuma-Iron Phosphate, Lithiuma-Manganese Oxide, Lithiuma-Nickela-Manganesea-Cobalt Oxide, Lithiuma-Titanate Oxide, Lithiuma-Nickela-Cobalta-Aluminum Oxide), Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), Application (Energy Storage, Electric Vehicle Charging, Base Station, Low-Speed EV) a- Global Industry Analysis and Growth Forecast to 2030.
The global second-life automotive lithium-ion battery market attained a valuation of $430.0 million in 2019 and is predicted to exhibit a CAGR of 23.1% between 2020 and 2030. As per the forecast of P&S Intelligence, a market research company based in India, the market would generate a revenue of $7,392.0 million by 2030. The rising usage of electric vehicles (EVs) around the world and the highly costly battery recycling process are the main factors driving the advancement of the market.
Furthermore, the governments of several countries are increasingly enacting various initiatives and regulations for promoting the usage of electric vehicles. This is also boosting the sales of the second-life automotive lithium-ion batteries around the world. Based on type, the second-life automotive lithium-ion battery market is classified into lithium ferro phosphate (LFP), lithium-ion manganese oxide (LMO), lithium-titanate oxide (LTO), lithium-nickel-manganese-cobalt oxide (NMC), and lithium-nickel-cobalt-aluminum oxide (NCA) categories.
Hence, it can be safely said that the market would exhibit substantial growth all over the world in the forthcoming years, mainly because of the rising usage of electric vehicles and the highly expensive procedures associated with lithium-ion battery recycling.