PUBLISHER: QYResearch | PRODUCT CODE: 1872349
PUBLISHER: QYResearch | PRODUCT CODE: 1872349
The global market for EV Battery Recycling Services was estimated to be worth US$ 1269 million in 2024 and is forecast to a readjusted size of US$ 17253 million by 2031 with a CAGR of 41.1% during the forecast period 2025-2031.
EV Battery refers to the battery used to drive electric vehicles. This type of battery needs to have high energy density, high power density and good cycle life. Currently, the most common type of power battery used in electric vehicles is lithium-ion batteries because they offer excellent energy density and cycle life. The capacity of power batteries will continue to decrease as the number of uses increases. After the power declines to 80%, it will no longer be able to provide power for new energy vehicles and will have to face elimination and can only enter the recycling stage. EV Battery Recycling Service refers to the industry of recycling and processing used power batteries from abandoned electric vehicles. The industry's primary goal is to recycle valuable and hazardous materials in batteries, including lithium, nickel, cobalt, aluminium, etc., so that they can be reused instead of being sent to landfills or incineration facilities. The recycled EV Battery can be reused or dismantled into recyclable materials. The most direct route to reuse is energy storage system (ESS) applications, which enable the still usable battery cells in old battery packs to be reused in the renewable energy grid to store energy generated by wind, solar, hydroelectric, or geothermal power plants. Excess electricity generated. EV batteries can also be disassembled into smaller battery modules for less demanding uses, such as power tools, forklifts, or electric scooters. Dismantling and recycling involve refining lithium batteries through crushing, sorting, and extraction to obtain the corresponding metal oxides. The main processes are divided into front and back processes. The profits from dismantling and recycling are linked to metal prices, and the economics are higher than that of secondary utilization, attracting many companies to enter the industry. Currently, the main participants in EV Battery Recycling Services include battery manufacturers, vehicle companies and third-party recycling companies, including three power battery recycling business models.
(1) EV Battery recycling led by vehicle companies mainly establishes recycling entities through the formation of industrial alliances. Its advantages lie in its wide recycling channels and strong technical expertise. At the same time, through collaborative cooperation among all links in the industry chain, it can effectively reduce vicious competition, reduce material recycling costs, and improve recycling efficiency and operational efficiency. However, it also needs to share risks.
(2) The model for battery manufacturers to recycle retired power batteries. Participate in the recycling of retired power batteries through the construction of factories and corporate cooperation.
(3) Third-party recycling companies realize battery recycling and resource utilization through self-built recycling networks. Generally entrusted by battery manufacturers or automobile manufacturers, its advantage is that the recycling process is highly mature and professional.
The EV Battery Recycling Services market is experiencing significant growth, primarily driven by the rising adoption of electric vehicles (EVs) and the urgent need to address battery waste and material scarcity. As EV adoption accelerates globally, the volume of retired lithium-ion batteries is growing rapidly, making efficient recycling and reuse services essential. Among the two major approaches, Recycling Reuse dominates the market, accounting for roughly 77% of the total share. This approach focuses not just on extracting valuable materials like lithium, nickel, and cobalt, but also on refurbishing cells for secondary applications, supporting both environmental and economic sustainability.
Geographically, China dominates the EV Battery Recycling Services market, holding an estimated 70% share. This leadership is driven by its massive EV deployment, supportive government policies, and an advanced domestic battery supply chain. Chinese companies have developed robust closed-loop systems that integrate battery manufacturing with end-of-life recovery. Europe and North America are also investing heavily in localized recycling capacity to reduce reliance on raw material imports and minimize carbon footprints associated with battery production and disposal.
Leading players such as Umicore, GEM, and SDM play a pivotal role in shaping the industry. Together, they account for about 40% of the global market, and are actively developing technologies for improved material recovery rates and lower processing costs. Looking ahead, the market will benefit from stricter environmental regulations, increasing OEM interest in circular economy strategies, and technological advancements in battery chemistry and dismantling automation. As a result, EV battery recycling services are expected to become a critical component of the global EV ecosystem.
This report aims to provide a comprehensive presentation of the global market for EV Battery Recycling Services, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of EV Battery Recycling Services by region & country, by Type, and by Application.
The EV Battery Recycling Services market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding EV Battery Recycling Services.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of EV Battery Recycling Services company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of EV Battery Recycling Services in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of EV Battery Recycling Services in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.